Private-equity firm TRILANTIC Partners has bought a “substantial minority stake” in food ingredients business Fortitech.
Trilantic, which in July sold a consumer foods business, MWBrands, said Fortitech was “the leader in its industry, with a strong competitive position”.
“Our partnership with Fortitech complements our existing portfolio of businesses that serve consumer end markets and further highlights our focus on providing institutional capital to founder-run businesses. We look forward to partnering with this outstanding team, which is led by a true entrepreneur,” said Trilantic partner Charlie Moore.
Fortitech, which has its head office in New York state, makes functional ingredients for cereals, dairy products, baby food and snacks.
President and co-founder Walter Borisenok said the investment from Trilantic would help the business expand.
“Trilantic’s investment provides us with the capital to help us realise our full-growth potential and will support our continued expansion in global markets,” Borisenok said. “Our partnership with Trilantic will allow us to enhance our leadership position in the fast-growing market for fortified and functional food, beverage and pharmaceutical products.”