H.I.G. Capital, LLC, a global private equity investment firm with over $30 billion of equity capital under management, announced that its portfolio company, Lipari Foods, a distributor, manufacturer, and importer of perimeter-of-the-store, specialty, and branded food products, has acquired Troyer Cheese, Inc., Troyer Bros. Trucking, Ltd., and Amish Wedding Foods, Inc.
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, proudly 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.
Thom Lipari, President and CEO of Lipari commented, “We are excited about the addition of Troyer’s unique product offerings into our existing portfolio. 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.”
“We are pleased to support Lipari in its acquisition of Troyer,” added 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.”
Troyer is the second add-on acquisition that Lipari has completed since H.I.G. acquired the company in January 2019 and part of a broader M&A-oriented growth strategy.