Goldman Sachs to acquire CTI Foods
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BOSTON – Thomas H. Lee Partners LP and an affiliate of Goldman, Sachs & Co. have entered an agreement to acquire CTI Foods from Littlejohn & Co. LLC. CTI is a provider of food solutions to restaurant chains in North America with products including value-added proteins, soups and dressings. The company has seven processing facilities in Idaho, California, Kentucky, Pennsylvania and Texas.
“We at CTI Foods are excited to announce this partnership with THL and Goldman Sachs,” said Robert Horowitz, CEO of CTI. “In the past years, CTI has steadily expanded through organic growth, targeted and strategic acquisitions and a commitment to R&D and innovation. The company has a compelling growth path and a well-defined offering of value-added food products. As we look to the next phase of our growth, we couldn’t be more pleased to be partnering with THL and Goldman Sachs, investors who share our commitment to our customers and bring exceptional financial and industry expertise that will help propel us to the next level.”
The transaction is expected to close during the second quarter of 2013.