Proven Partners Group, a US-based contract manufacturer of dried and powdered foods, has been acquired by US private-investment firm Tilia Holdings.
Located in Chicago, Tilia was supported in the investment by LBC Credit Partners of Philadelphia, a business that provides financing to so-called middle-market companies. LBC has provided “senior secured credit facilities” to Tilia, which focuses investments solely on the food-supply chain and partners with business services companies that support leading and emerging CPG brands, according to a statement.
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Illinois-based Proven Partners also offers packaging services and its customers include global food and beverage firms operating in segments such as snacks, cereals, meal replacement and protein powders, and coffee, amongst others. Previous customers of the company, which was started in 2005, have included Swiss food giant Nestlé.
Tilia was officially launched in 2017 by Johannes Burlin and Eric Larson. Neither of the founders provided comment in the statement announcing the deal, nor did management from LBC.
