Private Equity Firm Other

Tilia Holdings

Chicago, Illinois, United States

Founded in 2017, Tilia is a Chicago-based private investment firm making middle market control investments in the evolving “farm-to-fork” segment of the global food supply chain. We partner with service companies that support leading, emerging and private label brands as they adapt to marketplace trends and regulatory requirements.

Focus Areas
Food supply chain investing, Farm-to-fork segment investments, Middle market control investments (food supply chain)
Website
tiliallc.com

Tracked deals

12

12 tracked deals across 2019-2025.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Buyout

7 buyout · 3 addon · 1 growth capital

Tilia Holdings Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for Tilia Holdings. 3 2019 1 2020 5 2021 1 2022 1 2023 1 2025

Supporting Data

Recent Transactions

  • Buyer
    Tilia Holdings, LLC, Monroe Capital LLC
    Target
    Caputo Cheese
    Seller
    Promus Equity Partners
    Industry
    Food & Beverage
    Type
    Buyout

    Chicago-based private investment firm Tilia Holdings has acquired Caputo Cheese, a Melrose Park, Illinois value-added processor of high-quality Italian cheeses, from Promus Equity Partners (transaction closed June 30, 2025). Monroe Capital provided the senior credit facility and an equity co-investment to support the acquisition; Natale Caputo will continue to lead the company as Tilia looks to scale Caputo's manufacturing and national distribution capabilities.

  • Buyer
    Tilia Holdings
    Target
    Ever Fresh Fruit Company
    Seller
    McKnight Family
    Industry
    Food & Beverage

    Chicago-based private investment firm Tilia Holdings completed a majority recapitalization of Ever Fresh Fruit Company, a Pacific Northwest-based processor and developer of formulated fruit and flavor ingredient solutions. The McKnight family remains significant shareholders and Ever Fresh CEO Gene Mayer will continue to lead the business as Tilia supports growth, geographic expansion, and broadened ingredient applications.

  • Buyer
    Universal Pure Holdings, LLC, Tilia Holdings
    Target
    Hydrofresh HPP
    Seller
    Keller Logistics Group, Inc.
    Industry
    Food & Beverage
    Type
    Addon

    Universal Pure Holdings, a Tilia Holdings portfolio company, acquired Hydrofresh HPP from Keller Logistics Group to expand its national high pressure processing (HPP) and cold chain platform. The deal increases Universal Pure's Midwest footprint, adds HPP capacity and cold storage capability in Delphos, Ohio, and strengthens service access for food & beverage customers across seven strategic regions.

  • Buyer
    Tilia Holdings, Wheat Montana
    Target
    Stone Ground Bakery
    Industry
    Food & Beverage
    Type
    Addon

    Tilia Holdings, a Chicago-based private investment firm focused on the food supply chain, announced a growth investment in Stone Ground Bakery and that Stone Ground will merge with Wheat Montana, a Tilia portfolio bakery. Stone Ground will continue to operate under its existing brand with co-owners Tammy Hines and Derrick Schmerse remaining in place, and the combined businesses will leverage Wheat Montana's distribution network to expand Stone Ground's reach across the Western United States.

  • Buyer
    Warburg Pincus, Tilia Holdings
    Target
    FlexXray Holdings, LLC
    Seller
    Levine Leichtman Capital Partners
    Industry
    Food & Beverage
    Type
    Buyout

    Warburg Pincus and Tilia Holdings have acquired FlexXray, a leading provider of x-ray inspection and recovery services for the food industry, from Levine Leichtman Capital Partners. The investment is intended to support FlexXray's growth and expansion of its food-safety inspection capabilities and geographic reach; financial terms were not disclosed.

  • Buyer
    Warburg Pincus, Tilia Holdings
    Target
    Food Safety Net Services, Certified Group
    Industry
    Food & Beverage

    Warburg Pincus and Tilia Holdings announced an investment in Food Safety Net Services (FSNS) and a merger between FSNS and Certified Group to create a leading national testing and regulatory consulting platform for the food, supplements and related regulated industries. The combined business will expand geographic footprint and capabilities across chemistry and microbiology testing, bringing the organization to a large North American laboratory network and an expanded employee base.

  • Buyer
    Tilia Holdings
    Target
    NutriScience Innovations
    Seller
    Akoya Capital, Lakeview Equity Partners, Greyrock Capital Group
    Industry
    Food & Beverage
    Type
    Buyout

    Chicago-based private equity firm Tilia Holdings completed the acquisition of NutriScience Innovations, a Milford, Connecticut developer and supplier of branded nutritional and specialty ingredients. The sellers on the transaction included Akoya Capital, Lakeview Equity Partners and Greyrock Capital Group; NutriScience's CEO Alan Yengoyan will remain in his role to support the company's next phase of growth.

  • Buyer
    Tilia Holdings
    Target
    Wheat Parent, Inc. (Wheat Montana)
    Seller
    River Associates
    Industry
    Food & Beverage
    Type
    Buyout

    Chicago-based private investment firm Tilia Holdings completed its acquisition of Wheat Parent, Inc. (doing business as Wheat Montana) from River Associates on April 30, 2021. Wheat Montana, headquartered in Three Forks, Montana, will continue to be led by CEO Laura Carden and the existing management team as Tilia provides capital and board support to expand the company's premium bakery and milled products business.

  • Buyer
    Tilia Holdings
    Target
    Ellison Bakery
    Seller
    Ellis family, Blackford Capital, Promus Equity Partners, Concentric Equity Partners, Baird Principal Group
    Industry
    Food & Beverage
    Type
    Buyout

    Chicago-based private investment firm Tilia Holdings completed the acquisition of Fort Wayne, Indiana-headquartered Ellison Bakery from the Ellis family and a group of private equity investors including Blackford Capital and Promus Equity Partners. Ellison is a manufacturer of cookies, crunches, inclusions and bars serving retail, foodservice and private label customers; management will remain in place and debt financing was provided by Comerica and others.

  • Buyer
    Tilia Holdings
    Target
    Trilogy Warehouse Partners
    Type
    Buyout

    Tilia Holdings has acquired Trilogy Warehouse Partners, a St. Louis-based provider of cold storage and multi-temperature warehousing services, effective December 6, 2019. The acquisition expands Tilia’s cold-chain and warehousing footprint in the Midwest and complements its existing portfolio companies (Refrig-It and Universal Pure) to provide broader geographic coverage and service capabilities.

  • Buyer
    Universal Pure Holdings LLC, Tilia Holdings
    Target
    Stay Fresh Foods LLC
    Industry
    Food & Beverage
    Type
    Addon

    Universal Pure Holdings LLC (a Tilia Holdings company) acquired Stay Fresh Foods LLC effective July 1, 2019. The deal expands Universal Pure’s high-pressure processing (HPP) capacity and Northeast footprint—adding Stay Fresh’s two SQF Level 3-certified facilities in Meriden, Connecticut and Pennsauken, New Jersey—and brings beverage co-packing and additional value‑added services into the platform.

  • Buyer
    Tilia Holdings
    Target
    Proven Partners Group
    Industry
    Food & Beverage
    Type
    Buyout

    Chicago-based private investment firm Tilia Holdings completed its investment in Proven Partners Group (PPG), an Elgin, Illinois-based contract manufacturer and packager of dried and powdered foods, on February 22, 2019. Tilia has installed leadership and board members (Dave Nelson as interim CEO; Suley Muratoglu as President; Ron Markle as CFO) and secured debt financing from LBC Credit Partners to support PPG's growth.

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