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Highlander Buys Food and Beverage Ingredients Maker Fuerst Day, Plans Add-Ons

Similar deals include the purchases of Pinova, Stauber and Whole Harvest

Middle market private equity firm Highlander Partners LP has acquired ingredients distributor Fuerst Day Lawson Holdings Ltd. Financial terms were not disclosed. The target’s CEO, Mac Mardi, has also partnered on the deal.

Fuerst Day is based in London and was founded in 1884 as a commodities trader. In addition to trading, the company provides ingredients such as amino acids, beverage syrups and sweeteners to the food and beverage, fragrance and chemical sectors. Fuerst Day has operations in the U.S., England, India and China.

“We intend to supplement organic growth with strategic acquisitions that build on and expand FDL’s existing business and product offerings,” says Highlander president Mike Nicolais.

Highlander, located in Dallas, invests up to $75 million in equity in companies that generat up to $500 million in sales. Some of the firm’s other investments include: beverage distributor Bevolution Group, auto parts manufacturer Lund International and packaging company Popular Ink.

In other ingredient deals, Bunge Ltd. (NYSE: BG) acquired cooking oil maker Whole Harvest Foods LLC; Hawkins Inc. (Nasdaq: HWKN) recently completed its purchase of ingredients producer Stauber Performance Ingredients; and Symrise AG (ETR: SY1) is adding natural ingredients producer Pinova Holdings Inc. For more on M&A in the ingredients sector, see our video interview with Kainos Capital partner Sarah Bradley.

Highlander has received financing from HSBC and RBS.

 

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