Private investorLittlejohn & Co., LLC, Greenwich, Conn., said it completed the recapitalization ofCTI Foods Holding Co., LLC, a Wilder, Idaho-based meat processor. Terms were not disclosed.
Officials say Wilder supplies value-added, processed precooked, frozen and fresh food products to many leading quick-service and casual dining restaurant chains. Products include pre-cooked taco meat, steak and chicken fajita meat, soups and sauces, hamburger patties and dehydrated pinto beans. CTI Foods has four plants in Wilder, Idaho; Azusa, Calif.; Arlington and Saginaw, 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."
Said Littlejohn Managing Director Steven Raich, "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."