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Citation Capital acquires majority stake in Cibo Vita

Private equity firm Citation Capital has acquired a majority interest in food manufacturer Cibo Vita. Founded in 2009, Cibo Vita is a producer of natural and functional snacks, and is known for its flagship brand, Nature’s Garden. The company is headquartered in Totowa, New Jersey, and operates three manufacturing facilities, boasting a workforce of more than 900 employees. Cibo Vita and Citation will work together to drive the company's growth while delivering on the mission of offering smart snack options for households. According to Cibo Vita, Citation will become the first external shareholder of the company, while co-founders Emre Imamoglu (CEO) and Ahmet Celik (president) will continue to hold a significant ownership stake. Imamoglu said: "Our vision in founding Cibo Vita was to bring healthier snacking options to all families, inspired by our Mediterranean roots. Throughout our history, we have experienced phenomenal growth, attributed to our innovation capabilities, commitment to quality and a drive to meet the needs of consumers increasingly seeking healthier functional snacking. We sought out a strategic partner that could help ensure that we stay on the forefront of innovation and who is aligned with our personal core values." Tiffany K Hagge, Citation's founder and managing partner, added: "Emre and Ahmet started from an idea, believing that they could bring better snacking habits to North American consumers, and put everything they had into building Cibo Vita into a highly innovative, profitable business that provides value-added services and products to some of the most coveted customers in North America. "Cibo Vita exemplifies Citation's investment philosophy in backing fundamentally strong, defensible businesses with exceptional cultures and shared values, helping them to become 'best in class' in their segment through strategic partnership, operational excellence and a relentless focus on execution." Terms of the transaction were not disclosed.

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