Lipari Foods completes acquisition of Troyer Cheese
Troyer is a specialty food distributor and processor.
H.I.G. Capital LLC, a San Francisco-headquartered private equity investment firm, said its portfolio company, Lipari Foods, completed the acquisition of Troyer Cheese Inc., Troyer Bros. Trucking Ltd. and Amish Wedding Foods Inc. (collectively, “Troyer”). Lipari is a Melrose Park, Ill.-based distributor, manufacturer and importer of perimeter-of-the-store, specialty and branded food products. Troyer, founded in 1959, is a specialty food distributor, manufacturer and processor located in Millersburg, Ohio.
Troyer is primarily engaged in the distribution, processing and manufacturing of premium deli, cheese, jar goods, confections and other specialty food products, H.I.G. said, serving 2,400 grocery retail customers across 48 states. Troyer offers multiple proprietary brands, including Troyer meats, cheeses, and deli products, Amish Wedding Foods jar goods, Backroad Country candy and snacks, and Edna Lucille soaps and lotions.
“We are excited about the addition of Troyer’s unique product offerings into our existing portfolio,” said Thom Lipari, president and CEO of Lipari Foods. “Troyer is an excellent strategic fit that builds on Lipari’s heritage in deli, dairy, confectionary and other specialty food categories. Additionally, we are eager to continue building our specialty food manufacturing capabilities and look forward to extending our geographic reach further across the Midwest.”
Troyer is the second add-on acquisition Lipari has completed since H.I.G. acquired the company in January 2019, H.I.G. said. The acquisition is part of a broader M&A-oriented growth strategy.
“We are pleased to support Lipari in its acquisition of Troyer,” said Justin Reyna, managing director at H.I.G. “This transaction fits squarely within the company’s strategy of acquiring unique and complementary food manufacturing and distribution businesses in existing and adjacent markets. We are excited to partner with the Troyer team as we continue to grow the Lipari business.”