GREENWICH, CT, April 6, 2010 -
Littlejohn & Co., LLC, a private investment firm that applies
an operational approach to building middle-market companies, today
announced it has completed the recapitalization of CTI Foods
Holding Co., LLC, a leading supplier of value-added, processed
precooked, frozen and fresh food products to many of the country's
leading quick service and casual dining restaurant chains.
Headquartered in Wilder, ID, CTI Foods' major products include pre-cooked taco meat, steak and chicken fajita meat, soups and sauces, hamburger patties and dehydrated pinto beans. CTI Foods has well-established relationships with major quick service and casual dining chains in the U.S. and has a strong track record of innovation having developed a number of new products for its customers. In addition, CTI Foods has four state-of-the-art food processing facilities located in Idaho, California and Texas.
"The quality of our food products and keen understanding of product development, along with a successful culture within our team of employees, makes CTI a key partner in delivering high customer satisfaction to leading national food chains," said CTI Foods CEO Kirk Smith. "This is an ideal alliance between our experienced management composed of foodservice industry veterans and a highly successful investment team who have prior success investing in our industry. Littlejohn will bring additional resources to the table enabling us to continue in helping drive the business of our very valued customers."
Littlejohn Managing Director Steven Raich, said, "CTI has a track record of strong performance. We are extremely pleased to be participating in the recapitalization of the company and supporting its first class management team and employees. We will work with this creative team to enhance their customer relationships by broadening CTI's product capabilities and geographic reach."