{"id":657004,"date":"2013-05-09T08:40:55","date_gmt":"2013-05-09T12:40:55","guid":{"rendered":"http:\/\/www.pehub.com\/?p=201072"},"modified":"2013-05-09T08:40:55","modified_gmt":"2013-05-09T12:40:55","slug":"littlejohn-inks-sale-of-cti-foods","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/657004","title":{"rendered":"Littlejohn Inks sale of CTI Foods"},"content":{"rendered":"

Littlejohn & Co.<\/strong> has agreed to sell CTI Foods<\/strong>. Neither financial terms nor the buyer were announced. CTI provides custom food solutions to major chain restaurants in North America. Morgan Stanley<\/strong> advised CTI.<\/p>\n

PRESS RELEASE
\nLittlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has signed a definitive agreement to sell CTI Foods, a leading provider of custom food solutions to major chain restaurants in North America.\u00a0 The transaction is expected to close in the second quarter of 2013.<\/p>\n

Littlejohn acquired CTI Foods in 2010 and shortly thereafter appointed Robert (\u201cBobby\u201d) Horowitz as the new CEO of the business.\u00a0 Littlejohn, together with the Company\u2019s management team, expanded the company into a leading national provider of custom, value-added food products.\u00a0 During Littlejohn\u2019s ownership, CTI built a new state-of-the-art soup plant and R&D facility, completed two acquisitions and developed several major new accounts that diversified its customer base.<\/p>\n

\u201cThis successful transaction is the culmination of our collaboration with a management team that flawlessly executed on a number of strategic growth initiatives.\u00a0 The result is a much stronger company in terms of its customer base, product offerings, profitability, and safety,\u201d said Steven G. Raich, a Managing Director at Littlejohn.\u00a0 Michael Kaplan, also a Littlejohn Managing Director, added, \u201cThe business is well positioned for continued growth and we are confident that the new ownership will continue to support the Company\u2019s development.\u201d<\/p>\n

Mr. Horowitz, said, \u201cLittlejohn was instrumental in helping us capitalize on a number of opportunities to organically grow the business, as well as complete strategic acquisitions to build for the future.\u00a0 We look forward to working with our new partners to build on these and other initiatives to continue the company\u2019s growth.\u201d
\nMorgan Stanley acted as financial advisor to CTI Foods in connection with the transaction.<\/p>\n

About Littlejohn & Co., LLC
\nLittlejohn & Co. is a Greenwich, Connecticut-based private equity and distressed securities firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach.\u00a0 The firm is currently investing from Littlejohn Fund IV, L.P., which has over $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.<\/p>\n

The post Littlejohn Inks sale of CTI Foods<\/a> appeared first on peHUB<\/a>.<\/p>\n

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Littlejohn & Co. has agreed to sell CTI Foods. Neither financial terms nor the buyer were announced. CTI provides custom food solutions to major chain restaurants in North America. Morgan Stanley advised CTI. PRESS RELEASE Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has signed a definitive […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-657004","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=657004"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657004\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=657004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=657004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=657004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}