(Bloomberg) -- European private equity firm Investindustrial has agreed to buy Parker Food Group, a manufacturer of specialty ingredients for the food industry, from The Riverside Co.
The Fort Worth, Texas-based Parker Food will become part of the buyout firm’s broader group of ingredients companies, including CSM Ingredients and Italcanditi, according to a Thursday statement, which didn’t provide any financial terms.
Parker Food makes products including candy toppings and inclusions, baked items and crumbs as well as cookie components. The company employs about 370 people and runs three factories in the US. Riverside first invested in the company in 2017, the firm’s website shows.
Founded in 1990, Investindustrial has raised 11 billion euros ($11.4 billion) in capital and focused on taking control positions mostly in Southern European medium-sized companies, according to its website. It has offices in Switzerland, Spain, the US, the UK, Luxembourg and China.
Lazard Ltd. and Kirkland & Ellis advised Investindustrial on the deal, the release showed.
©2022 Bloomberg L.P.