ACON Investments has announced that it has completed the acquisition of US brand Borden Dairy Company.
Headquartered in Dallas, Borden operates 13 facilities across the US with an annual milk processing capacity of more than 500 million gallons.
In 2013, Borden was spun-off from a multinational conglomerate into a private company called Laguna Dairy. Following the deal, Laguna Dairy will remain a substantial equity holder in Borden.
ACON Investments is a Washington DC-based firm that manages private equity funds in the US and Latin America.
Managing Partner of ACON Aron Schwartz said: “Borden is an iconic brand with more than 150 years of heritage. We are excited to be partnering with Laguna Dairy and Borden’s management to accelerate the company’s growth and maintain its position as a market leader.”
Laguna Dairy general manager Steve Gorman said: “This transaction confirms the value we have built during our ownership of Borden. We have been searching for the right investor and believe in ACON we have found a capital partner that will maximise the potential of Borden.”
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