NEW YORK — Private equity firm MidOcean Partners has acquired Florida Food Products (F.F.P.) from Kainos Capital. Financial terms of the transaction were not disclosed.
Founded in 1954 and headquartered in Eustis, Fla., F.F.P. manufactures healthy, natural, clean label vegetable- and fruit-based ingredients. The company also provides clean label cures, which are used for a variety of end-market uses, including packaged meat, food service, private label and branded consumer packaged goods meats and pet foods.
The company will continue to be led by Jim Holdrieth, chief executive officer.
“We are very excited to partner with F.F.P., which is the market leader in the clean label cure market,” said Jonathan Marlow, managing director of MidOcean. “Jim (Holdrieth) and his team have built an impressive business that has experienced strong growth. We have identified a number of opportunities to increase F.F.P.’s presence across channels and markets fueled by organic investments, strategic initiatives and highly accretive acquisitions.”
Mr. Holdrieth said he looks forward to utilizing MidOcean’s track record in building flavor, food and ingredients businesses.
“They are fully aligned with our mission, and we are eager to leverage their extensive expertise and resources as we continue the company’s expansion in the natural and clean label Ingredients market,” Mr. Holdrieth said.