FRESNO/LOS ANGELES (KMJ) A major Fresno-based food and beverage company is changing hands.
Lyons Magnus, the Fresno company known for developing specialty beverage ingredients and nutrition products, has been acquired by Los Angeles-based private equity firm Truelink Capital. Financial terms of the deal were not disclosed, however the Wall Street Journal reports the acquisition could be valued as high as $1 billion.
Founded in 1852, Lyons Magnus supplies syrups, sauces, beverage concentrates, and healthcare nutrition products to restaurants, coffee chains, foodservice operators, and healthcare providers nationwide. The company operates four manufacturing facilities and two distribution hubs.
Truelink says it plans to invest in Lyons’ continued growth through expansion and acquisitions. CEO Jim Davis says the partnership will help the company build on its long history of innovation and customer service while pursuing new opportunities in the growing beverage and nutrition markets.
“Lyons is a well-established business with a market-leading position in the attractive and growing specialty ingredients category,” said Todd Golditch, Co-Founder and Managing Partner at Truelink Capital. “The company is well positioned to benefit from the increasing importance of beverage innovation in the away-from-home category and growing demand for healthcare and nutrition solutions, and our strategic intent will be to drive Lyons’ growth via both commercial organic initiatives and the execution of strategic M&A add-ons. We are excited to partner with CEO Jim Davis and the rest of the Lyons team to build on the Company’s strong foundation and next phase of growth.”
Listen to the report by KMJ’s Liz Kern.
