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Fresno-Based Lyons Magnus Acquired by Los Angeles Private Equity Firm in $1 Billion Deal
Fresno-based food service company Lyons Magnus was acquired by private equity firm Truelink Capital on Monday in a deal reported to be valued at roughly $1 billion, according to The Wall Street Journal.
Truelink Capital is a Los Angeles-based private equity firm with over $4 billion in assets.
Lyons Magnus, founded in 1852, is a formulator and manufacturer of specialty ingredients, beverage and nutrition solutions. CEO Jim Davis is mentioned in statements from the acquiring firm about the company’s future direction.
“Lyons is a well-established business with a market-leading position in the attractive and growing specialty ingredients category,” said Truelink Co-Founder and Managing Partner Todd Golditch. “The company is well positioned to benefit from the increasing importance of beverage innovation in the away-from-home category and growing demand for healthcare and nutrition solutions, and our strategic intent will be to drive Lyons’ growth via both commercial organic initiatives and the execution of strategic M&A add-ons.”
The Breakdown
- Truelink Capital, a Los Angeles private equity firm with over $4 billion in assets, acquired Lyons Magnus in a deal valued at approximately $1 billion
- The transaction closed on Monday
- Lyons Magnus is a Fresno-based manufacturer of specialty ingredients, beverage and nutrition solutions, founded in 1852
- The new owners plan to pursue growth through commercial initiatives and additional acquisitions
What This Means for You
The acquisition changes ownership of the Fresno-based company but does not announce changes to local operations or jobs.
