Benford Capital Partners Management, L.P. (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce it has completed the recapitalization of Brothers International Food Corporation (“Brothers” or the “Company”) in partnership with Founder, Travis Betters, who will continue to lead Brothers as CEO.
Founded in 2001 and based in Rochester, NY, Brothers is a highly successful food company with two distinct and complementary divisions: (i) the ingredients division, a value-added importer and distributor of unique and exotic fruit ingredients sold to large food and beverage companies and (ii) the Brothers All-Natural division, the market leader in branded, private-label, and co-branded freeze-dried fruit snacks sold through supermarket, mass, drug and e-commerce retailers.
“I am thrilled to partner with Benford Capital to build upon Brothers’ legacy in our next stage of growth and success,” said Brothers CEO, Travis Betters. “Our team looks forward to capitalizing on the opportunity for growth and consolidation in the fruit ingredients and healthy snacks space as we collaboratively develop and execute on our long-term growth plan.”
BCP and Brothers plan to continue investing in sales, marketing, new product development and R&D to support organic growth, both in the ingredients and Brothers All-Natural divisions. In addition, BCP and management will actively pursue add-on acquisitions of related healthy snack and food ingredients companies.
Commenting on the deal, BCP Managing Director Ben Riefe stated, “Brothers is a differentiated, niche-market leading food company with an exceptional reputation as an innovative, value added partner to a diverse and blue-chip customer base. The entire Benford team is looking forward to working with the Brothers management team in the years ahead.”
The Brothers partnership marks the second platform investment for Benford Capital’s Fund I.
ABOUT BENFORD CAPITAL PARTNERS
Based in Chicago, Benford Capital is an operationally oriented private equity firm focused on buying and building lower middle market companies in partnership with management. BCP is currently investing out of its $130 million Fund I. Since being founded in 2004, the firm has acquired 21 companies and now has 10 investment and operating professionals to support its continued growth. BCP has deep experience helping businesses grow and thrive over the long-term, with a focus on industries where the firm has a successful investment track record and operating experience.