Littlejohn & Co. is in talks to buy CTI Foods Inc. from CIC Partners, according to a recent list of transactions granted early termination of the HSR waiting period. No pricing terms were disclosed.
Both Littlejohn and CIC Partners declined comment, although a source tells me that “this is far from done.”
CIC Partners formed CTI Foods in 2003, via the acqusition and merger of SSI Food Services and S&S Foods LLC from J.R. Simplot Company. The Wilder, Idaho-based company already had a processing facility in California, and later would add a couple in Texas, in order to provide frozen, fresh and precooked food products to restaurant chains like Wendy’s and Taco Bell.