Investindustrial has acquired ingredient supplier Parker Food Group (PFG) from The Riverside Company.
Based in Fort Worth, Texas, PFG is a manufacturer of speciality ingredients for business-to-business and business-to-consumer customers, as well as foodservice providers. The company’s product offering includes baked inclusions, toppings, pralines and cookie components.
PFG – which employs approximately 370 people – operates three factories in the US, located in Missouri, New York state and Fort Worth.
The company collaborates with customers to develop products tailored to their requirements. The business will join Investindustrial’s broader portfolio of food ingredient companies, which also includes CSM Ingredients, Hi-Food and Italcanditi.
Andrea Bonomi, chairman of Investindustrial’s industrial advisory board, commented: “Our extensive experience in the food ingredients sector and our track record of growing our portfolio companies, makes us the perfect steward for a new, exciting and more global chapter in PFG’s development”.
“We are building an ingredient-tech platform with the vision to create unique and innovative solutions for the food industry. PFG will become part of and contribute to our family of existing ingredients investments with CSM Ingredients, Hi-Food and Italcanditi.”
Greg Hodder, CEO of PFG, said: “With strong experience in the sector, Investindustrial is our partner of choice and with its help as a responsible investor and sector specialist, we look forward to accelerating PFG’s growth and entering into new markets”.
Investindustrial has also just announced its acquisition of a significant portion of TreeHouse Foods’ meal preparation business for $950 million.
© FoodBev Media Ltd 2022
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