US fruit-snacks supplier Brothers International Food Corp. is eyeing acquisitions after a change in majority control at the business.
The New York state-based company, which markets branded and own-label freeze-dried snacks and acts as an ingredients business, has announced US private-equity firm Benford Capital Partners Management is its new majority shareholder.
Travis Betters, who set up Brothers International Food Corp. with his brother Matt in 2001, remains CEO and a “major shareholder” in the company, Whipstitch Capital, the M&A advisors that worked on the deal, said. Financial terms were not disclosed.
“Travis partnered with Benford to accelerate growth,” Whipstitch Capital said. “It’s business as usual with all management still in place. Brothers is considered a platform company actively looking to acquire additional companies.”
Brothers International Food Corp. owns US freeze-dried snack brand Brothers-All-Natural, as well as US wine importer Lost Vineyards. The company supplies fruit and fruit-juice concentrates to food manufacturers.
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Commenting on the deal, Benford Capital Partners managing director Ben Riefe said: “Brothers is a differentiated, niche-market leading food company with an exceptional reputation as an innovative, value-added partner to a diverse and blue-chip customer base.”