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.
Littlejohn & Co., LLC, a private investment firm that applies an operational approach to building middle-market companies, today announced it has completed the recapitalization of CTI Foods Holding Co., LLC, a leading supplier of value-added, processed precooked, frozen and fresh food products to many of the country’s leading quick service and casual dining restaurant chains.
Headquartered in Wilder, ID, CTI Foods’ major products include pre-cooked taco meat, steak and chicken fajita meat, soups and sauces, hamburger patties and dehydrated pinto beans. CTI Foods has well-established relationships with major quick service and casual dining chains in the U.S. and has a strong track record of innovation having developed a number of new products for its customers. In addition, CTI Foods has four state-of-the-art food processing facilities located in Idaho, California and Texas.
“The quality of our food products and keen understanding of product development, along with a successful culture within our team of employees, makes CTI a key partner in delivering high customer satisfaction to leading national food chains,” said CTI Foods CEO Kirk Smith. “This is an ideal alliance between our experienced management composed of foodservice industry veterans and a highly successful investment team who have prior success investing in our industry. Littlejohn will bring additional resources to the table enabling us to continue in helping drive the business of our very valued customers.”
Littlejohn Managing Director Steven Raich, said, “CTI has a track record of strong performance. We are extremely pleased to be participating in the recapitalization of the company and supporting its first class management team and employees. We will work with this creative team to enhance their customer relationships by broadening CTI’s product capabilities and geographic reach.”
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in the middle-market sector that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund III, L.P. which has $850 million in capital commitments. For more information, visit www.littlejohnllc.com, or Littlejohn can be reached at 203-552-3500.