PCI Co. buys cereal, food ingredient unit of US Foods
November 04, 2008
by FoodBusinessNews.net Staff
LINCOLN, NEB. — Performance Chemicals & Ingredients Co. (PCI Co.), St. Louis, has acquired the cereal and food ingredient business of US Foods, Inc., a subsidiary of Lincoln-based Innovative Grain Technologies, Inc. Financial terms of the transaction were not disclosed.
"We’re very excited about the opportunity the new ownership presents to our organization," said Rick Williams, founder of US Foods and president of the company. "It will be a focus business within PCI Co. and we therefore look forward to offering our customers an even higher level of support and service."
US Foods is a supplier of complex, multi-inclusion cereals and ingredients, including organic, natural, functional and nutraceutical products. It joins a portfolio of companies within PCI Co. that also includes Diehl Food Ingredients, Diehl Organics, SensoryEffects Inclusions and SensoryEffects Flavor Systems.
PCI Co. is majority owned by Highlander Partners, L.P., an investment firm with more than $200 million allocated for direct private equity investments.