Tag Archives: Agri & Food

Sizzling Platter Partners with Bain Capital to Drive Next Chapter of Growth

BainCapital

The investment will accelerate Sizzling Platter’s growth in partnership with category-leading restaurant brands

SALT LAKE CITY – July 2, 2025 – Sizzling Platter, LLC (“Sizzling Platter” or the “Company”), a premier restaurant franchise growth platform, today announced that it has partnered with Bain Capital to accelerate its expansion. The investment is being made by Bain Capital North American Private Equity, which is acquiring the business from CapitalSpring. Sizzling Platter will continue to be led by Chief Executive Officer Nathan Garn. Financial terms of the private transaction were not disclosed.

Sizzling Platter was founded in 1963 and has since evolved into one of the largest franchise platforms in North America, operating a portfolio of nationally recognized fast-casual and quick-service restaurant brands, including Little Caesars, Wingstop, Jersey Mike’s, Dunkin’, and Jamba, and employing over 13,000 team members across more than 800 locations in the United States and Mexico.

“This is a pivotal milestone for Sizzling Platter as we look to build on more than six decades of delivering unparalleled experiences for our team members, guests, and brand partners,” said Garn.  “Bain Capital’s extensive experience investing in growing restaurant businesses makes it the right value-added partner to help expand our platform. The extraordinary scale we’ve achieved—and this transaction itself—would not have been possible without the strength, relevance, and enduring appeal of the exceptional brands we are fortunate to grow in. Together, we have an aligned vision on how we can continue to innovate and lead in a rapidly evolving industry.”

“With an exceptional portfolio of category defining brands, deep operational expertise, and a proven track record of profitable growth, we believe that Sizzling Platter is uniquely positioned to continue to scale as a global leader in franchising,” said Adam Nebesar, a Partner at Bain Capital. “We are excited to partner with Nate and the team to build on its strengths and long-term brand partnerships to enhance capabilities and accelerate growth,” added Mark Saadine, a Managing Director at Bain Capital.

“Nate and the Sizzling Platter team have been tremendous partners as we navigated the pandemic and executed on a multi-pronged growth strategy to double the company’s footprint,” said Erik Herrmann, Partner, Head of Investment Group at CapitalSpring, which has owned Sizzling Platter since 2019. “The accelerated growth we achieved working with the management team was driven by a focus on organic growth in our existing brands and investments in the Company’s infrastructure to support new unit development, acquisitions, and the addition of new brands to the platform,” added Kaivon Abrishami,  Managing Director at CapitalSpring.

BofA Securities acted as lead financial advisor, and Kirkland & Ellis LLP acted as legal counsel to Bain Capital. UBS Investment Bank acted as lead financial advisor, and Proskauer Rose acted as legal counsel to Sizzling Platter and CapitalSpring.  Deutsche Bank and North Point also served as financial advisors to Sizzling Platter and CapitalSpring.  UBS Investment Bank, Jefferies, Deutsche Bank Securities, HSBC, BNP Paribas, KKR Capital Markets, Mizuho, RBC Capital Markets, Santander, Stifel, and Wells Fargo Securities provided committed debt financing for the transaction and financial advisory services to Bain Capital.

About Sizzling Platter 
Sizzling Platter is one of the world’s largest and most dynamic restaurant franchise growth platforms. We are proud of our longstanding track record as a trusted growth partner to iconic, category-leading brands. As a people-first organization, our mission is to deliver unparalleled experiences for our team members, guests, and brands.  Relentless focus on our mission continues to fuel our growth.  For more information about the Company, visit www.sizzlingplatter.com

About Bain Capital  
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

Bain Capital North American Private Equity has deep experience investing in restaurants including prior historical investments in Bloomin’ Brands, Burger King, Domino’s Pizza, and Dunkin’ Brands, and its current investment in Fogo de Chão.

About CapitalSpring 
CapitalSpring is a leading private equity and debt investment firm with deep expertise in foodservice, multi-location business models and related industries. For over 19 years, CapitalSpring has supported entrepreneurs and management teams with financial, operational, and strategic resources to help accelerate growth and to realize the full potential of their businesses. CapitalSpring offers one-stop solutions for a broad range of investments including private equity, mezzanine capital and senior lending. The firm has offices in Nashville, Los Angeles, Atlanta, and New York.

Media Contacts

 Scott Lessne / Charlyn Lusk

 

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KKR Acquires ProTen from Aware Super

KKR

SYDNEY–(BUSINESS WIRE)– KKR, a leading global investment firm, and Aware Super, a leading Australian super fund, today announced the signing of definitive agreements under which funds managed by KKR will acquire ProTen Pty Limited (“ProTen”), one of the largest agricultural infrastructure businesses in Australia, from Aware Super.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701097305/en/

Established in 2001, ProTen develops, owns, and operates farm infrastructure for Australia’s poultry supply chain, and plays an important role in supporting access to affordable, sustainable nutrition for Australian households. Today, the company manages poultry infrastructure including more than 700 poultry sheds across over 60 farms, located in key agricultural regions nationwide.

Aware Super, which manages A$190 billion on behalf of its 1.2 million members, has owned ProTen since 2018 and has overseen significant growth in the business. Aware Super’s infrastructure team expanded ProTen’s operational footprint across all states, along with a four-fold expansion of its property portfolio. KKR’s investment will build on ProTen’s position for continued growth and its operational excellence in the poultry supply chain.

Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, “Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset, supported by availability-based long-term contracts, that plays an essential role in the food supply chain. KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic. We are impressed by the quality of ProTen’s assets, its long-term contractual relationships with its customers, and the favorable dynamics within the poultry industry. As demand for sustainable protein and resilient food supply increases in Australia, we believe ProTen is well placed for continued growth. We look forward to leveraging KKR’s global network, operational expertise, and deep experience in scaling businesses to support ProTen.”

Jiren Zhou, Aware Super Portfolio Manager – Infrastructure, said, “We are proud to have grown ProTen into the leading business it is today, through our active stewardship of the business. Following seven years of significant investment, we are delighted to achieve this result on behalf of our members, to grow their retirements funds and deliver long-term sustainable returns. This is an excellent example of how Aware Super’s disciplined and long-term approach has strengthened the fund’s high quality, diversified infrastructure portfolio, which currently has more than A$20 billion invested globally.”

James Wentworth, CEO of ProTen, said, “ProTen is very grateful for the long-standing relationship it has enjoyed with Aware Super. Over the last seven years they have been unwavering in their commitment to and investment in the business. This support and the hard work of our team has enabled us to service and grow with our customers. We look forward to an exciting new chapter with KKR. Our business, management and focus will remain unchanged – partnering with our customers to feed Australia.”

KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. This marks KKR’s latest infrastructure investment in the ANZ region. Past investments include Zenith Energy, a leading independent remote power producer in Australia; Queensland Airports Limited in Australia, which consists of four airports in Queensland, including Gold Coast Airport; Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; and Ritchies Transport, a leading transportation operator in New Zealand. KKR’s Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019.

The transaction is expected to close later this year, subject to customary regulatory approvals.

About ProTen

ProTen is one of Australia’s largest broiler chicken growers, setting the benchmark in broiler farm operations and development. Established in 2001, the business operates over 700 poultry sheds across more than 60 broiler farms spanning New South Wales, Victoria, South Australia, Western Australia, and Queensland. Driven by the mission “We grow the chickens”, ProTen is committed to contributing to the health and wellbeing of Australians by delivering affordable, sustainable, high‑quality protein. Find out more at: https://proten.com.au/

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Aware Super

Aware Super is one of Australia’s top-performing and largest industry super funds with a core objective of delivering the strongest risk-adjusted returns for its 1.2 million members. Our Australian and London-based investment teams currently originate and manage A$190 billion AUM on behalf of our members. As one of the top 50 institutional investors globally, we typically take an active management approach across alternative assets, including infrastructure, real estate and private equity, and additionally allocate to liquid markets. Returns for our A$20 billion infrastructure portfolio are driven by a globally-diversified program which captures global trends in demography, sustainability and technology to achieve a broad universe of assets. It has a targeted focus on opportunities in Europe, North America, Australia and Asia with a sector focus on energy transition and digital opportunities. Visit aware.com.au

Media
For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

James Strong
+61 (0)448 881 174
james.strong@sodali.co

For Aware Super:
Brendan Altadonna
+61 409 919 891
baltadonna@gracosway.com.au

Sara Bradford
media@aware.com.au

Source: KKR

 

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GoodLife Foods to acquire TNS Food

IK Partners

GoodLife Foods is pleased to announce an agreement was signed to acquire TNS Food, an innovative player in the snack and appetizer market in Belgium and beyond. Besides a strong focus on product innovation, TNS Food has a 100% oven prepared crumb technology which brings additional capability to the GoodLife Foods Group. Financial terms of the transaction are not disclosed.

TNS Food was founded in 2000 by Daphne Aers and since its inception has launched high-quality croquettes, oven snacks/appetizers and meal components in strong partnership with its customers. The Company specializes in the production and distribution of private label products, serving a customer base active in the Retail and Foodservice channels mainly in Belgium, The Netherlands, Germany, France and UK.

TNS Food has 20 employees and operates two facilities in Eeklo and Lokeren. Daphne Aers will join the GoodLife Foods company to share her passion, ensure smooth transition and help to boost innovation for the entire GoodLife Foods Group.

This strategic move is an important complementary step for GoodLife Foods as it allows to expand the product offering and innovation capability to its customer base.

Dirk Van de Walle, CEO at GoodLife Foods, said: “With the unique 100% full oven production technology and its innovative DNA, TNS Food will add great value to the GoodLife Foods Group. We look forward to the collaboration with Daphne Aers to further strengthen our portfolio”.

Daphné Aers, CEO/owner at TNS, said: “My passion for high quality innovative products has been the driver over the last 25 years. I dreamed to make these innovative products available to many more customers and consumers. This is only possible as part of a larger group. With GoodLife Foods I felt the appreciation for what I have developed and the will to unlock the potential together.”

About GoodLife Foods

GoodLife Foods is one of Europe’s largest producers of both branded and private label frozen savoury food products. GoodLife Foods has its headquarters in Breda, the Netherlands with production sites across Europe. In 2024, GoodLife Foods acquired the Audens Food Group, a leading manufacturer in the Iberian frozen food market, and Pure Ingredients, a Halal expert. For more information, visit https://glfoods.com/en/.

About TNS Food

TNS Food is an innovative player in the snack and appetizer market with unique 100% oven crumb technology in Belgium. They serve retail and out-of-home customers with unique products mainly in Belgium, the Netherlands, Germany, France and UK. https://www.tnsfood.com/en

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Reddy Family and Bain Capital Announce Formation of Trillium Foods, Premium Liquid Food and Beverage Manufacturing Platform

BainCapital

Family-owned, private company launches with investment from Bain Capital

Trillium Foods (the “Company”), a premier liquid food and beverage company focused on manufacturing and innovation, today announced its official launch. The family-owned, privately held company is a scale North American platform with diverse product capabilities across dressings, sauces, mayonnaises, syrups, and beverage mixes for application in foodservice, retail, and food processing channels. Trillium Foods is majority owned by the Reddy Family and backed by an investment from Bain Capital’s Private Credit Group (“Bain Capital”). The Reddy family and Bain Capital will partner with Trillium’s management team, led by CEO Ash Reddy, to expand the Company’s capabilities and market position.

Founded in 2017 as Flavor Reddy Foods (“FRF”) by foodservice industry veteran Ram Reddy, the business has grown rapidly, driven by key partnerships with long-term strategic customers, deep expertise in culinary innovation, and a proven track record of high-touch service and execution. The Company has made three transformative acquisitions to drive growth and support its customer base, including:

  • In 2023, acquired Cincinnati, Ohio-based Dominion Liquid Technologies, which specializes in the production of liquid food and beverage products including syrups, beverage mixes, and sauces.
  • In 2024, acquired Lancaster, Pennsylvania-based, specialty-condiment manufacturer Lancaster Fine Foods as a carve-out from its previous owner.
  • In 2025, acquired Brundidge, Alabama-based Southern Classic Food Group, a premier manufacturer of branded mayonnaise, dressings, sauces, and syrups.

Bringing together these four businesses and manufacturing facilities have brought a diversified combination of talent, high quality existing customer relationships, increased manufacturing capabilities, and capacity across both savory and sweet liquid categories. Trillium Foods has a team of approximately 500 employees and a manufacturing footprint exceeding 500,000 square feet. The Company’s facility network can produce over 1 billion pounds of finished goods annually, with capacity to service existing and new customers.

“We are thrilled to announce the launch of Trillium Foods with the main purpose of helping our customers win through our innovation and execution capabilities,” said Ram Reddy, Chairman of the Company’s Board of Directors. “I am grateful for the support of our customers, employees, investors, and partners. Trillium will be a significant force in the industry, and we look forward to accomplishing great things as a unified company.”

“Our team is committed and completely aligned with our mission of delivering greater value for our customers, and we are excited about the opportunities this combination presents,” added Ash Reddy. “Bain Capital shares our long-term vision and collaborative approach to the partnership. I’m confident that by joining forces, we will execute on the aggressive growth agenda in front of us.”

“Ram and Ash have built an incredible business which has earned them the long-term trust of their customers to continually innovate and deliver on market-leading food and beverage products. Bain Capital has a long history of supporting founder-owned businesses and we are thrilled to partner with the Trillium team on their next stage of growth,” said June Huang, a Managing Director at Bain Capital. “Through our extensive experience investing in the food and beverage space, Trillium clearly stood out as a high-quality business with scale and product differentiation. We are pleased to provide a one-stop financing solution tailored to Trillium’s growth needs and look forward to a collaborative partnership with the Reddy family,” added Megan McKenzie a Vice President at Bain Capital.

Bain Capital has a long history of partnering with companies in the consumer, retail, and restaurant industries to accelerate growth. The firm’s restaurant and food-related investments have included Bloomin’ Brands, Brakes Group Food Distribution, Bread Holdings, Cuisine Solutions, Dessert Holdings, Dunkin’ Brands Group, Domino’s Pizza, Fogo de Chão, and Valeo Foods.

About Trillium Foods

Trillium Foods is a family-rooted, innovation-driven manufacturer of premium liquid food and beverage products. The company is a partner of choice to iconic Quick Service Restaurants (QSRs), Consumer Packaged Goods (CPG) brands, distributors, and food manufacturers across both savory and sweet liquid products. Guided by strong values and an entrepreneurial spirit, we specialize in creating high-quality products that meet the evolving needs of our customers. Trusted by industry leaders, we are known for our precision, consistency, and unwavering commitment to safety and quality. As we continue to grow, Trillium Foods remains dedicated to building lasting partnerships and helping our customers bring their delicious ideas to life.

About Bain Capital Credit

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $53 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 100 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

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 Scott Lessne

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Novacap Announces Successful Exit from Smyth Companies, LLC

Novacap

Novacap, a leading North American private equity firm, is pleased to announce the successful exit of its investment in Smyth Companies, LLC (“Smyth”), a premier provider of innovative and sustainable labeling solutions for consumer products. Smyth has been acquired by Crestview, a private equity firm focused on the middle market, further positioning the company for continued success and growth. This marks a significant milestone for Novacap and reinforces its commitment to fostering growth and operational excellence within its portfolio companies.

Since Novacap’s initial investment, Smyth has expanded its market position as a trusted partner to leading global consumer packaged goods (CPG) brands. Under Novacap’s ownership, the company has implemented key strategic initiatives, invested in state-of-the-art equipment, and successfully implemented its “One Smyth” operational philosophy. These efforts have positioned Smyth as a national leader in prime label solutions, with a well-invested manufacturing footprint and a diversified customer base.

“Our partnership with Smyth exemplifies Novacap’s ability to drive long-term value creation through operational improvements and strategic initiatives,” said Domenic Mancini, Senior Partner at Novacap. “We are incredibly proud of the progress achieved by the Smyth team and confident that the company is well-positioned for continued success in the evolving labeling and packaging industry.”

“Novacap’s strategic guidance and investment have been instrumental in accelerating our growth and enhancing our ability to serve our customers with cutting-edge labeling solutions,” said Scott Fisher, President of Smyth Companies. “We are grateful for their support and look forward to continuing our journey as an industry leader.”

The successful exit of Smyth underscores Novacap’s expertise in identifying and nurturing companies within the industrial and packaging sectors, leveraging sector knowledge to drive sustainable and scalable growth.

Baird served as financial advisor while Blake, Cassels & Graydon LLP and Fox Rothschild LLP provided legal counsel to Novacap. Evercore served as financial advisor while Gibson, Dunn & Crutcher LLP provided legal counsel to Crestview Partners.

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacap.ca.

About Smyth Companies, LLC
Established in 1877, Smyth Companies, LLC (Smyth) is a leading provider of high-impact label decoration for consumer goods products. From neighborhood businesses to Fortune 500 companies, Smyth’s trusted Labels Without Limits®, Dow Beauty, and PurePack® brands provide quality, innovative packaging solutions to brand owners in the beauty, health, personal care, household, food, automotive, private label, and beverage markets. Using a broad range of print technologies from traditional roll- and sheet-fed to digital and expanded gamut printing, Smyth’s products include pressure sensitive, cut and stack, and in-mold labels; shrink sleeves; flexible packaging, including pouches and rollstock; and promotional; as well as fulfillment services, and equipment application and support. Headquartered in St. Paul, Minnesota, Smyth has eight production facilities in North America, employing more than 550 associates. For more information on Smyth please visit www.smythco.com.

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Bain Capital Agrees to Acquire Supermarket & Specialty Stores Businesses from Seven & i Holdings

TOKYO, March 6, 2025 – Bain Capital, a leading global private investment firm, today announced that it has signed a definitive agreement to acquire York Holdings’ headquarters and subsidiary management functions, along with its supermarket and specialty store businesses (“SST Business Group”). Bain Capital has also agreed with Seven & i Holdings regarding the absorption-type split and the implementation of a partial reinvestment from Seven & i Holdings.

Established in October 2024 as a wholly owned subsidiary of Seven & i Holdings, York Holdings oversees 29 subsidiaries and affiliated companies, including major supermarket chains Ito-Yokado and York-Benimaru, as well as specialty retailers including Loft, Akachan Honpo, and Seven & i Food Systems (which operates the family restaurant chain Denny’s).

Founded in 1920 in Japan, Ito-Yokado has grown over 100 years under the philosophy of “striving to be a trustworthy company for customers, business partners, employees, and all kinds of stakeholders.” The company has built a reputation for high-quality food offerings, while demonstrating values of supporting the local community and the lives of customers.

York-Benimaru has a strong presence in the Tohoku and northern Kanto regions, operating community-focused supermarkets that provide fresh and ready-to-eat foods, daily necessities, home supplies, and clothing.

In addition to its supermarket operation, York Holdings manages specialty retailers such as Loft and Akachan Honpo, as well as restaurant chain Denny’s. As an integrated retailer that enriches customers’ daily lives through clothing, food, and housing, York Holdings is a leading force in the retail and consumer goods industry.

“SST Business Group is one of Japan’s leading companies in the industry, centered around businesses such as Ito-Yokado, which has a history of over 100 years; York-Benimaru, loved by locals as the community’s kitchen; as well as Loft, Akachan Honpo, and Denny’s, that together as a comprehensive retail enterprise, support our daily lives,” said Naofumi Nishi, a Partner at Bain Capital Private Equity. “We are delighted to have the opportunity to partner with such a remarkable Group and further support its growth. Bain Capital will work closely with the Group, leveraging our expertise in supporting retail and consumer goods companies both globally and locally in Japan, to bolster the company’s continued growth. In addition, we will work closely with our in-house real estate specialist team to provide comprehensive support to maximize the value of the group-operated facilities by taking on initiatives such as attracting the best tenants to these facilities.”

Bain Capital has extensive experience supporting businesses in the retail and consumer goods sectors, including drugstore chains such as Kirindo and Dollarama (a dollar store operator in Canada), as well as brand and specialty retailers such as MASH Holdings, Snow Peak, and Canada Goose. Drawing on investment insights that Bain Capital has cultivated in this sector, Bain Capital will support SST Business Group in further strengthening its operational base and accelerating its medium-to long-term business growth, in partnership with the management and employees.

On this transaction, Bain Capital’s financial advisors include BNP Paribas (as the lead), along with Citigroup Global Markets Japan Inc., and Mizuho Securities Co., Ltd. Legal advisors include Anderson Mori & Tomotsune and Ropes & Gray LLP.

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About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

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Gimv fuels The Spice Factory’s next chapter, scaling its private label and foodservice brands across Europe

GIMV

Gimv is pleased to announce the acquisition of The Spice Factory (TSF), the market leader in private label dried culinary herbs & spices in the Benelux, serving both retailers and foodservice players with high-quality, customized solutions. With a strong foundation in private label for retail and a branded foodservice offering through its ISFI brand, TSF is poised to accelerate its international expansion.

Founded and based in Braine l’Alleud, Belgium, The Spice Factory (TSF) (thespicefactory.com), has built a strong reputation as a trusted partner to leading retailers, offering a distinctive branded approach to private label. The company sets itself apart by combining deep category expertise, a relentless focus on quality, and tailored, value-added solutions to help its customers stand out in an increasingly competitive market.

With Gimv’s support, TSF will strengthen its market position and broaden its international reach, leveraging its unmatched production flexibility and its ability to offer innovative and customer-driven solutions for retail and foodservice players.

Gimv acquires a majority stake from Gilde Equity Management and Davy De Muyer. Jorgen De Pelsmaeker, CEO, and the management team will reinvest alongside Gimv as the company embarks on its next phase of growth.

“We are excited to partner with Jorgen and the TSF team in their expansion strategy”, say David De Peuter & Laurens Boriale, respectively Partner and Principal in the Gimv Consumer team. “This acquisition is a first step in putting to work the capital Gimv recently raised, supporting Gimv Consumer’s strategy to invest in leading consumer businesses with strong growth potential to scale internationally and further enhance their market differentiation.”

“Over the years, we have built TSF into the partner of choice for retailers and foodservice players, offering customized solutions that go beyond the traditional private label approach”, adds Jorgen De Pelsmaeker, CEO of TSF. “With Gimv’s backing, we are confident in our ability to accelerate our international growth, both organically and through selective buy-and-build, while continuing to innovate and create value for our customers.”

The transaction is expected to close before the end of March 2025. No further financial details will be disclosed.

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Plantagen restructuring approved

Ratos

Plantagen in Norway and Sweden have been undergoing restructuring since August 22. At the end of December, Plantagen submitted proposals for debt settlements with the creditors. These proposals have been accepted by the majority of the creditors and today approved by the respective courts in Norway and Sweden.

Since August 22, 2024, Plantasjen Norge AS and Plantagen Sverige AB have been undergoing restructuring to ensure continued operations. The court approvals of the debt settlements in both countries means that the purpose of the restructuring can be achieved.

When the court decisions have gained legal force, the companies can exit restructuring. This is expected to take place February 18.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR Invests in smaXtec to Accelerate Global Growth

KKR

Investment to Support Dairy Industry with Innovative Technology and Global Expansion

London, UK & Graz, Austria – 16 January 2025 – smaXtec, a leading provider of agri-tech for the global dairy industry, today announced a growth investment led by global investment firm, KKR, alongside technology investor Highland Europe (“Highland”). Existing shareholder Sophora Unternehmerkapital (“Sophora”) retained a minority stake in the business. Financial terms of the transaction were not disclosed.

 

smaXtec is a leading monitoring platform that transforms dairy farming by enhancing efficiency and promoting animal health through its proprietary technology. The platform enables early disease detection, monitors fertility with heat detection, and reduces birth-related complications, all contributing to improved cow welfare and farm productivity.

At the heart of smaXtec’s innovation is the in-vivo bolus, a proprietary sensor placed inside a cow’s stomach. This sensor provides real-time, accurate data, seamlessly integrated with a cloud-based, AI-powered analytics platform. Farmers can access actionable insights and alerts via remote monitoring, empowering them to make timely and informed decisions. Founded in 2009 in Graz, Austria, smaXtec has established a global presence, serving dairy farmers across Europe, North America, and Australia & New Zealand.

KKR’s investment is to fuel smaXtec’s product innovation and accelerate its international growth as the global dairy industry increasingly adopts digital tools to improve animal health. smaXtec expects to benefit from KKR’s operational expertise, leveraging the firm’s platform to scale as a leader in agricultural technology. Additionally, smaXtec will access KKR’s extensive network of industry professionals, particularly in agriculture and technology, to strengthen its position as a pioneer in dairy farming solutions.

Stefan Scherer, CEO of smaXtec said: “smaXtec has emerged as the leading dairy cow health management system, revolutionizing the industry. Our system empowers thousands of farmers worldwide to achieve a true triple win: enhanced animal welfare, reduced greenhouse gas emissions, and increased earnings. I am thrilled that KKR is able to ensure and accelerate our global growth, which has consistently doubled over the past five years. smaXtec consists of a competent and committed team that will achieve a lot in the future. I would like to thank them for our cooperation and look forward to the future.”

Marta Szczerba, Director in European Tech Growth at KKR, said: “smaXtec’s technology has emerged as a disruptive force in the dairy industry, enabling farmers to significantly increase the efficiency of their operations. With a deeply engaged user base, high pace of product innovation and dedication to supporting its customers, smaXtec is well-positioned to continue to drive digitalization of the dairy sector globally. We are excited to support the next chapter of the company’s growth story.”

David Blyghton, General Partner at Highland Europe, added: “By providing real-time, actionable insights into herd health, smaXtec is empowering farmers across the globe to improve animal welfare, enhance productivity and drive operational sustainability. smaXtec’s vision and product leadership in AI-powered dairy health monitoring is driving rapid revenue growth and global customer adoption – we’re delighted to be part of the journey.”

Benjamin Hubner, Managing Partner of Sophora, said: “We are excited to continue our partnership with smaXtec and join forces with KKR and Highland in the next phase of smaXtec’s development. Over the past two years, smaXtec has consistently demonstrated its ability to drive innovation and create significant value for the dairy industry. By reinvesting, we reaffirm our confidence in smaXtec’s disruptive technology and its potential to further transform the market globally.”

Today’s announcement of KKR and Highland’s investment in smaXtec is also a success story for the Styrian regional start-up ecosystem. From university spin-off to global success – smaXtec and Styria prove what a positive economic ecosystem can achieve.

KKR is making the investment in smaXtec primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise.

William Blair & Company is acting as exclusive financial advisor to smaXtec. The transaction is still subject to the approval of the relevant antitrust authorities.

About smaXtec

smaXtec provides dairy farmers with the most advanced health monitoring system, designed to prevent diseases in cows, boost milk yields, improve animal welfare, and reduce methane emissions in milk production. By integrating cutting-edge AI technology, such as the TruAdvice™ system, smaXtec detects potential diseases long before they become clinical. This enables farmers to prevent most diseases altogether by applying milder and alternative treatments. The combination of accurate data and intelligent insights helps farmers around the world to optimize their operations, improve the efficiency of daily tasks and reduce antibiotic use. SMAXTEC is committed to enhancing the stability, sustainability and profitability of dairy farming globally. For more information, visit smaXtec.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Highland Europe

Highland Europe invests in exceptional growth-stage technology and consumer companies. Formally launched in 2012, Highland Europe has raised over €2.75 billion and has invested in companies such as Adjust, AMCS, Camunda, ContentSquare, Deepki, Descartes Underwriting, GetYourGuide, Featurespace, Finbourne, Huel, ME+EM, Nexthink, Nothing, Oritain, PVcase, SoSafe, Supermetrics and Zwift. Highland’s collective history of investments across the US, Europe and China includes 45+ IPOs, 150+ M&A exits and 40 billion-dollar-plus companies.

About Sophora Unternehmerkapital

Sophora Unternehmerkapital, based in Munich, is an independent and owner-managed investment company with a focus on medium-sized companies in Germany, Austria and Switzerland. Sophora consists of an interdisciplinary team of entrepreneurs with many years of experience in the investment business and as founders and Managing Directors of companies. As a value-creating partner of entrepreneurs and management teams of medium-sized companies, Sophora provides strategic and operational know-how as well as a comprehensive network of experts and flexible capital in order to jointly discover and develop potentials. For additional information about Sophora, please visit Sophora’s website at www.sophora.de/en.

smaXtec

smaXtec animal care GmbH

Stefanie Murauer

+43 664 88440916

press@smaxtec.com

KKR

FGS Global

Alastair Elwen / Jack Shelley

+44 20 7251 3801

KKR-LON@fgsglobal.com

Sophora Unternehmerkapital

Sophora Unternehmerkapital GmbH
Melaine Louis
info@sophora.de

 

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SWIF Maven Equity Finance invests £750,000 in Tom Parker Creamery

Maven

The British Business Bank’s South West Investment Fund has marked its 100th deal in the region, delivering over £40 million of investment since its launch last year with a £750,000 investment from SWIF Maven Equity Finance into Tom Parker Creamery.

Published: Dec 12, 2024
Focus: SWIF Maven Equity Finance

Founded in 2018, Tom Parker Creamery is a producer of free-range milks and creams from British grass-fed herds. Based at Wincanton in South Somerset, the business produces natural, fully traceable, and sustainable dairy products. The range features free-range milk enriched with vitamins, naturally flavoured milks and cream, all sustainably produced and presented in nostalgic glass bottles.

The company serves several major retailers including Waitrose, Sainsbury’s, Tesco, and Ocado. It has also won various awards including a Great Taste Award (2024), The Farm Shop & Deli Best Product (2024), International Cheese & Dairy Awards; Best Health Drink (2021) and the Great British Food Awards (2022 and 2021).

Investment from SWIF Maven Equity Finance has supported the relocation to a larger facility, allowing for a significant increase in production capacity as the company continues to grow its customer base. The funding will also provide additional working capital, enable the business to increase its headcount and support further product development.

Tom Parker Creamery free ranged whole milk product

“We’re extremely excited to be working with Maven and the South West Investment Fund to help take our business to the second phase of our growth plan. With the current rise in awareness of ultra-processed foods, our range of award-winning products made with free-range British whole milk and natural ingredients mean we’re well positioned to satisfy consumer demands in this area. With this support, the investment enables us to deliver our ambitious plans and meet the rising demands from major retailers and consumers.”

Rob Yates, CEO of Tom Parker Creamery

“Tom Parker Creamery has carved out a unique space in the dairy market, driven by its commitment to high-quality, sustainably sourced products. Rob has built a strong brand, and we’re excited to back him and his team as they scale up and bring their exceptional products to more customers. The South West Investment Fund is there to support businesses just like this to grow whilst making a positive impact on the wider local economy.”

Rafi Khan, Investment Manager at Maven

“We’re thrilled to see the South West Investment Fund make its 100th deal, delivering over £40m of investment since its launch last year. The volume of investments underscores the strength and ambition of growing businesses across the South West, and the critical role of the fund in providing the capital needed for these businesses to innovate, expand, and create lasting impact in their communities. The latest investment in Tom Parker Creamery highlights our commitment to supporting sustainable, growth-oriented businesses in a broad range of sectors across the region.”

Jody Tableporter, Director UK & Regional Funds at the British Business Bank

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the region. The Fund is increasing the supply and diversity of early stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

SWIF – Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the South West of England. To date, the Fund has backed sustainable packaging innovator, Kelpi, global wireless solutions provider Blu Wireless, healthcare buy and build operator, Covestus, Microsoft adoption specialist, Changing Social and leading robotic additive manufacturer, Q5D.

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