©Florida Food Products
Ardian has announced its acquisition of a majority stake in ingredients producer Florida Food Products (FFP) from MidOcean Partners for an enterprise value in excess of $1 billion.
FFP develops and produces vegetable- and fruit-based ingredients. Following the deal, stakeholders plan to build on FFP’s capabilities within its core markets, enter into new ‘direct adjacencies’ and expand the business globally.
MidOcean’s initial investment in FFP came in 2018 and the firm will retain a significant stake in the company, now alongside private investment house Ardian. MidOcean and FFP management are said to have substantially grown the business through a series of organic growth schemes and a strategic acquisition in the flavours sector.
Thibault Basquin, head of Americas investments at Ardian Buyout, said: “FFP plays a critical role in the development and formulations of clean label food products for today’s consumer. FFP’s pipeline of innovative natural ingredients will significantly expand the selection of natural products available to consumers in both the retail and foodservice channels.”
He continued: “By combining Ardian’s global reach and sector experience with MidOcean’s deep knowledge of the space and proven ability to implement transformative strategies, Florida Food Products will accelerate its long-term strategic plan while offering its customers and consumers best-in-class products”.
The transaction is set to close by the end of 2021.
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial