Ardian acquires majority stake in Florida Food Products
MidOcean Partners maintains a significant equity stake alongside of Ardian
Ardian, a world-leading private investment house, announced today that it has acquired a majority stake in Florida Food Products through its U.S. Buyout team from MidOcean Partners for an enterprise value in excess of $1 billion. MidOcean initially invested in the business in 2018 and will retain a significant stake in FFP alongside Ardian. Additional terms of the transaction were not disclosed. The transaction is anticipated to close in the fourth quarter of 2021.
FFP is the leading innovator, formulator and producer of vegetable and fruit-based clean label ingredients. The Company’s products replace traditional, synthetic ingredients with natural, plant-based alternatives, which improve texture and flavor, extend shelf life, and ultimately provide consumers with clean label and natural products. FFP is the largest provider of clean label cures for the protein sector and the Company’s rapidly growing portfolio of natural ingredients have applications across every segment of the food and beverage industry.
Over the last three years, MidOcean and FFP management have significantly grown the business through a series of organic growth initiatives and a strategic acquisition in the flavors sector. Simultaneously, the team completed significant investments in the Company’s infrastructure and dramatically expanded FFP’s product development capabilities. Today, the Company is poised for rapid growth in a number of adjacent segments and is prepared to launch a series of innovative natural ingredients. Ardian and MidOcean will continue to partner with FFP CEO Jim Holdrieth and the Company’s talented executive team to build upon the Company’s deep expertise within its core markets, enter into new direct adjacencies, and expand internationally.
EFA News - European Food Agency