- Greg Hodder leads PFG as CEO
- Investindustrial was advised by Lazard and Kirkland & Ellis LLP on the transaction
- PFG services the ice cream, bakery, dairy fresh, food service beverage & dessert, snacking confection nutraceutical and general package goods industries
Investindustrial has acquired Fort Worth, Texas-based Parker Food Group, a provider of specialty, value-added ingredients in the North American market, with a focus on inclusions and toppings. No financial terms were disclosed. The seller was The Riverside Company.
PFG’s product offering includes baked inclusions, toppings, crumbs/streusels, pralines and cookie components that are sold to industrial branded B2C customers, foodservice clients and industrial B2B customers.
Greg Hodder leads PFG as CEO.
PFG will form part of Investindustrial’s broader group of food ingredients companies including CSM Ingredients, Hi-Food and Italcanditi, which jointly have a turnover of close to € 1 billion.
On the deal, Greg Hodder, CEO of PFG, said in a statement: “With strong experience in the sector, Investindustrial is our partner of choice and with its help as a responsible investor and sector specialist, we look forward to accelerating PFG’s growth and entering into new markets.”
Investindustrial was advised by Lazard and Kirkland & Ellis LLP on the transaction.
Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €11 billion of raised fund capital.
Parker Food Group services the ice cream, bakery, dairy fresh, food service beverage & dessert, snacking confection nutraceutical and general package goods industries.