Food & Beverage Acquisitions in New Jersey

Tropical Cheese Industries, a PE-backed Hispanic dairy and refrigerated foods platform, has acquired Cibao Meat Products and will integrate it as the Cibao Meat Products Division. The deal (terms undisclosed) strengthens Tropical Cheese’s meats offering, adds cold‑chain logistics capabilities, gives the Vieluf family a rolled equity stake, and expands the combined company’s reach across the U.S. East Coast.

German botanical ingredient supplier Martin Bauer Group has acquired American Botanicals, a US supplier of wildcrafted botanicals and herbs. The deal strengthens Martin Bauer's US sourcing, vertical integration and supply-chain resilience to better serve the global food and dietary supplement markets.

B&G Foods has sold its Don Pepino and Sclafani brands, along with the Williamstown, New Jersey manufacturing facility, to Violet Foods LLC, a newly formed portfolio company of Amphora Equity Partners. Terms were not disclosed; B&G said it will use net proceeds to reduce long-term debt while Amphora aims to support future growth of the acquired brands.

Young American Food Brands (doing business as Miami Beef) has acquired Best Provision Co., Inc., a Newark, New Jersey-based producer of premium smoked and cooked meats. The acquisition expands Young American's cooked/smoked meat capabilities, adds production capacity in the Northeast, and supports development of better-for-you and smoked snack product lines.

Colavita USA has acquired Vitelli Foods, the owner of the historic Luigi Vitelli brand, to expand its product portfolio in pasta and tomato categories. The purchase strengthens Colavita's position in the U.S. Italian specialty foods market and will leverage Colavita's distribution network to increase Luigi Vitelli's reach.

Universal Pure Holdings LLC, a portfolio company of Aurora Capital Partners, has acquired the High-Pressure Processing (HPP) assets of Dora's Naturals. The deal — terms not disclosed — expands Universal Pure's HPP capacity in the Northeastern United States as Dora's exits the HPP business to focus on its core distribution operations.

France-based Solina has acquired U.S.-based Advanced Food Systems, Inc. (AFS), a Somerset, New Jersey supplier of custom dry seasoning solutions; AFS's leadership team and its ~40 employees will join Solina USA. The deal expands Solina's U.S. footprint into the Northeast and complements Solina's flavor capabilities with AFS's functional ingredient expertise for meat, poultry, frozen foods, sauces and marinades.

TreeHouse Foods completed the acquisition of Harris Tea for approximately $205 million, funded primarily with cash. The deal brings tea sourcing, blending and packing capabilities into TreeHouse's private-label beverage platform and is expected to be accretive to revenue and profitability in 2025.

AUA Private Equity Partners and Avance Investment Management jointly made a significant minority investment in Tropical Cheese Industries, a family-run Hispanic cheese and food brand founded in 1982. The founding Mendez family and Tropical Cheese management will retain a significant minority interest; the investors plan to support national expansion, deepen distribution (direct-store-delivery), and pursue complementary M&A opportunities. Terms were not disclosed.

NutriScience Innovations, a portfolio company of Tilia Holdings, has acquired XSTO Solutions, a Morristown, New Jersey-based supplier of nutraceutical and functional ingredients. The deal adds six branded products to NutriScience's portfolio and strengthens its formulation and ingredient supply capabilities for the dietary supplement, functional food & beverage, and animal health markets.

Impetus Wellness Group, a wellness-focused platform backed by AEA Investors' Small Business Private Equity (AEA SBPE), has acquired Reliance Vitamin from Swander Pace Capital and its partners. Reliance will become the first member of the Impetus VMS CMO platform and will continue to operate under CEO Linda Naselli as Impetus pursues additional partner acquisitions in the vitamins, minerals, and supplements (VMS) contract manufacturing space.

Turnspire Capital Partners has acquired Pharmachem Innovations, the former nutraceuticals business of Ashland Inc., creating an independent nutraceuticals platform. Pharmachem — a provider of proprietary nutrition ingredients, custom formulation and contract manufacturing with ~500 employees across facilities in New Jersey, Utah and Tamaulipas, Mexico — will be led by Executive Chairman Maurice Murphy and Interim CEO Jeff Rogers as Turnspire pursues operational growth opportunities.

Woodland Foods, a Waukegan, Illinois-based provider of plant-based specialty ingredients and a portfolio company of Graham Partners, has acquired Idan Foods, a Hawthorne, New Jersey-based manufacturer of breadings, batters, coating systems, baking mixes, and seasonings. The acquisition is a strategic add-on to Woodland’s platform intended to expand its finished-product offerings, R&D and manufacturing capabilities, and customer reach across foodservice and industrial channels; The DAK Group served as advisor to Idan Foods' owners.

J&J Snack Foods Corp. has acquired Thinsters, a Montclair, New Jersey-based cookie brand known for thin, crunchy cookies made with simple ingredients. The acquisition expands J&J Snack Foods' portfolio of cookies and baked goods and aims to leverage J&J's sales, marketing and distribution capabilities to grow the Thinsters brand.

Vandemoortele, a family-owned European food group, has acquired a majority stake in Banneton Bakery, a New Jersey-based manufacturer of freezer-to-oven croissants, danishes, and other pastries. The transaction represents a full exit for Encore Consumer Capital; founders Victor and Alex Litinetsky remain investors and will continue to run day-to-day operations.

Brookside Flavors & Ingredients LLC (BFI) has acquired the assets of Sterling Food Flavorings, LLC of Dayton, New Jersey. The sellers, Vitas Roman and Rick Englesbe, will remain with the business as part of BFI; the acquisition expands BFI's product portfolio and capabilities to better serve existing and Sterling customers.

Saco Foods Holdings, a branded food company and platform backed by private equity, has acquired Solo Foods LLC from Chicago-based Sokol & Company. The tuck-in add-on expands Saco's center-store baking portfolio (cake and pastry fillings, marzipan and almond paste) and will leverage Saco's shared services, retail placement and e-commerce channels to grow the Solo brand.

Atalanta Corporation, the largest privately held food importer in North America, has acquired J.A. Kirsch Corporation, a Teaneck, New Jersey-based importer and wholesale distributor of canned seafood and shelf-stable specialty foods. The transaction will expand Atalanta’s portfolio of imported specialty food brands and strengthen its presence in the independent and retail depot segments along the U.S. East Coast; terms were not disclosed.

H.I.G. Capital (through an affiliate) has acquired Patriot Pickle, a manufacturer and distributor of refrigerated pickles and other fermented foods headquartered in Wayne, New Jersey, from Swander Pace Capital. H.I.G. will partner with Patriot's existing management to support the company's next phase of organic and acquisition-driven growth; terms were not disclosed.

South Mill Champs, a vertically integrated North American grower and supplier of fresh mushrooms and functional mushroom foods, has acquired World Fresh Produce, a global fresh produce sourcing organization. The acquisition expands South Mill Champs’ produce sourcing capabilities and leverages its cold-chain distribution network to extend World Fresh Produce’s reach across North America.

Citation Capital, a Dallas-based private equity firm, will acquire a majority interest in Cibo Vita, a Totowa, New Jersey-based better-for-you snack manufacturer. The founders, Emre Imamoglu and Ahmet Celik, will remain significant shareholders as Citation partners with management to accelerate growth and innovation; financial financing is being led by Wells Fargo, Bank of America and American Ag Credit.

Funds advised by SK Capital Partners have acquired J&K Ingredients from CORE Industrial Partners. The acquisition, completed November 20, 2023, positions SK Capital to build a clean-label food & beverage ingredients platform around J&K's specialty preservative and bakery ingredient capabilities; debt financing was provided by KeyBanc Capital Markets, Kayne Anderson Private Credit, and Benefit Street Partners.

CFS Brands has acquired The Foodware Group (TFG), a combination of G.E.T. and Winco, from Olympus Partners; the transaction closed October 2, 2023. The deal brings together CFS Brands' portfolio with TFG's front- and back-of-house smallwares and distribution capabilities to create a broader supplier for foodservice, healthcare and hygiene customers and to expand product, sourcing and distribution scale.

New Jersey-based Ferraro Foods has acquired GDS Foods Inc., a Sussex, New Jersey importer and distributor of Italian food products that serves pizzerias across New York, New Jersey and Pennsylvania. The acquisition expands Ferraro's distribution footprint in key Northeast pizza markets, bringing GDS’s ~ $50 million in annual sales and a loyal customer base into Ferraro’s network.

Del Sol Food Company, maker of BRIANNAS Fine Salad Dressings, has acquired John Wm. Macy's Bakery, a New Jersey-based manufacturer of baked cheese sticks, cheese crisps, and crostinis. John Wm. Macy's will continue operations in Elmwood Park, New Jersey, and the acquisition is intended to create product and operational synergies between the two companies.

Handgards, a portfolio company of Wind Point Partners, has acquired EMI Yoshi, a Somerville, New Jersey-based supplier of foodservice tableware and catering products. The deal expands Handgards' product offering in the disposables tabletop category and broadens its distribution footprint into the Southeast U.S.

MGP Ingredients, through its Luxco subsidiary, agreed to acquire 100% of Penelope Bourbon LLC for $105.0 million in cash at closing plus potential earn-outs of up to $110.8 million through 2025. The deal includes all intellectual property, bottled inventory and aging whiskey inventory, and is expected to close in June 2023; MGP will finance the purchase with its revolving credit facility and cash on hand to expand its premium American whiskey portfolio and broaden distribution.

Cape May Brewing Co. has acquired all assets of Flying Fish Brewing Co., including its Somerdale tasting room, in a deal intended to expand Cape May's production, warehouse capacity and regional distribution. Beers from both breweries will continue to be sold independently while Cape May leverages the acquisition to grow its craft beer, hard seltzer and malt beverage offerings across New Jersey, Pennsylvania and Delaware.

Ziyad Brothers, an affiliate of Peak Rock Capital, has acquired Vintage Food Corporation, a Kearny, New Jersey-based distributor of Turkish, Middle Eastern, and Eastern European food and beverage products. The acquisition expands Ziyad's product portfolio and geographic reach; Vintage President Levent Demirgil will join Ziyad to continue leading the Vintage business unit.

iSpice Foods, a privately held spice importer and processor based in Jackson, Alabama, has acquired Spice Chain Corporation, a New Jersey-based importer, processor and supplier of spices and seasonings. The seller was Frontenac, which had previously owned Spice Chain; financial terms were not disclosed and Boxwood Partners acted as sell-side advisor.

Fortune International, LLC has acquired D'Artagnan, Inc., a leading purveyor of free-range, organic and specialty meats, for an undisclosed sum. The deal expands Fortune's product breadth and geographic footprint, and gives Fortune access to D'Artagnan's retail relationships and direct-to-consumer e-commerce business; founder Ariane Daguin will remain with the company.

The Hain Celestial Group has acquired That's How We Roll (Proven Brands, Inc. and KTB Foods, Inc.), the owner of the ParmCrisps and Thinsters brands, from Clearlake Capital for approximately $259 million in cash. The target generated about $108 million of net sales for the 12 months ended September 30, 2021 and grew to over 250 employees under Clearlake's ownership; the deal deepens Hain's position in the better-for-you snacking category.

Aurora Capital Partners has acquired Spray-Tek, LLC, a North American leader in specialized spray drying and ingredient processing solutions serving food & beverage, personal and home care, and pharmaceutical/nutraceutical markets. Aurora will partner with Spray-Tek's management to resource growth initiatives, expand drying capacity and capabilities, and accelerate both organic and inorganic growth.

Baltimore-based Tilley Company, a portfolio company of SK Capital Partners, has completed a merger with Phoenix Aromas & Essential Oils, creating the combined Tilley‑Phoenix Group. The transaction — an add-on to Tilley's platform — was announced December 2021 and was reported as an exit for Caymus Equity Partners, expanding Tilley's product portfolio, technical/regulatory capabilities and global distribution in flavor & fragrance and other regulated markets.

RoundTable Healthcare Partners has established Everwell Health, a new functional-ingredients platform, and Everwell made its first acquisition by buying Nutrition21 from JDS Therapeutics. Nutrition21, a Saddle Brook, New Jersey–based developer and marketer of clinically substantiated ingredients for dietary supplements, functional foods and beverages, will operate under the Everwell platform to accelerate R&D, product development and commercial expansion.

Iconic Brands, Inc. (OTCQB: ICNB) has acquired TopPop LLC, a U.S.-based contract manufacturer of ready-to-freeze alcoholic ice pops and flexible pouch-packaged products. The acquisition expands Iconic's manufacturing capacity, licensing and packaging capabilities and gives the company a platform to launch adult alcohol ice pop products and serve large beverage customers.

Boston-based private equity firm New Heritage Capital made a platform investment in Icelandirect, a Clifton, New Jersey-based importer, manufacturer and packager of marine oils and nutraceutical products. The transaction was completed through Heritage's Private IPO structure, allowing Icelandirect's co-founders to reinvest and retain operating control while providing liquidity and capital to expand the company's ingredient offering and in-house capabilities.

JBT Corporation agreed to acquire Prevenio (fka CMS Technology) in an all-cash transaction for $170 million. The acquisition brings Prevenio’s food-safety technology and recurring revenue streams into JBT’s FoodTech portfolio and represents an exit for investor WP Global Partners.

FitLife Brands, Inc. (OTC Pink: FTLF) acquired substantially all of the assets of Nutrology in an all-cash deal that closed April 7, 2021. The acquisition adds Nutrology’s plant‑based and natural sports nutrition product line to FitLife’s portfolio and is expected to be immediately accretive while expanding FitLife’s presence in the growing natural/vegan supplement category.

Funds managed by Kelso & Company acquired Ferraro Foods, a Piscataway, New Jersey-based specialty foodservice distributor focused on Italian restaurants and pizzerias, from Kainos Capital in April 2021. Ferraro operates seven distribution centers, sources roughly 7,000 SKUs, and serves thousands of independent restaurant customers across the U.S. East Coast; Kelso intends to support continued platform growth and consolidation in the specialty distribution space.

Vestar Capital Partners has made a majority growth investment in Dr. Praeger's Sensible Foods, a family-founded maker of plant-based frozen and refrigerated foods. The Praeger and Somberg families will remain significant investors and the deal will support product innovation, distribution expansion and continued brand growth; terms were not disclosed.

Chicago-based private equity firm CORE Industrial Partners has acquired J&K Ingredients Corp., a Paterson, New Jersey manufacturer of natural, organic and clean-label bakery ingredients. CORE said it will support J&K's organic growth and pursue strategic add-on acquisitions to expand the company's product offering, customer base and end-market reach.

Olde Thompson, a portfolio company of Kainos Capital, has acquired Gel Spice, a family-owned importer and manufacturer of spices, seasonings and bakery ingredients based in Bayonne, New Jersey. The add-on expands Olde Thompson’s capabilities and creates a bi-coastal manufacturing footprint, broadening its channel reach into retail, foodservice, bakery, industrial and export markets.

Givaudan has completed the acquisition of Ungerer & Company, a US-based flavour, fragrance and specialty ingredients business headquartered in New Jersey. The purchase (terms undisclosed) adds Ungerer's approximately USD 250 million in proforma sales and ~650 employees, strengthening Givaudan’s vertical integration in specialty ingredients and its local/regional presence in North America.

PowerPlant Ventures led a growth investment in OWYN (Only What You Need), joining existing investors Clearlake Capital and Halen Brands to accelerate the plant-based protein beverage brand's expansion. The capital will be used to scale go-to-market efforts and broaden distribution into conventional grocery, drugstore and e-commerce channels.

Keystone Natural Holdings LLC, a portfolio company of Keystone Capital Inc., completed acquisitions of J.P. Veggies Inc. (Veggieland) and Superior Tofu Ltd., adding the two plant‑based protein manufacturers to its KNH platform alongside Nature Soy. The deals expand KNH’s product portfolio, channel reach into retail, foodservice and private label, and strengthen product innovation capabilities across the platform.

Consolidated Investment Group (CIG) purchased the assets of Sicilian Chefs, Inc. and rebranded the business as Caesar's Pasta, LLC to continue producing frozen Italian pastas, including gluten-free and organic lines. CIG said the acquisition expands its food-and-beverage platform and positions the new portfolio company to pursue growth in national grocery and natural/organic retail channels.

McCormick & Company acquired 100% of Brand Aromatics, a Lakewood, New Jersey-based supplier of natural savory flavors, marinades and broth/stock concentrates, for approximately $63 million in cash. The acquisition expands McCormick's industrial flavor capabilities and broadens its value-added product offerings to packaged food companies and restaurants.

Bubbies of San Francisco has acquired Othentic Foods, a New Jersey-based importer of USDA-certified organic and all-natural pickles, sauerkraut and other preserved vegetables from Poland. The acquisition expands Bubbies' specialty fermented and pickled product portfolio and is intended to capture cost and market synergies across natural and specialty grocery channels.