Blue Point Capital Partners has sold JTM Foods to Kainos Capital
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Blue Point Capital Partners, a Cleveland, Ohio-based private equity firm that specializes in majority investments, management buyouts and recapitalizations of lower mid-market companies, has sold JTM Foods, LLC (“JTM” or the “Company”) to Kainos Capital, a Dallas, Texas-based mid-market private equity firm with an exclusive focus on the food and consumer sector. Terms of the transaction were not disclosed.
Headquartered in Erie, Pennsylvania, JTM is a leading manufacturer of branded and private label snack foods. Selling directly to retailers and distributors under the JJ’s Bakery brand and through co-packing arrangements with other food producers, the Company’s product offerings include snack pies and marshmallow crispy treats. Across the United States, JTM’s products are available through all retail food channels, including grocery stores, convenience stores, supermarkets, drug stores, dollar stores, mass merchants and value grocers. JTM brings innovation to market through unique flavors and consumer packs, which has driven significant growth for the Company and the category.
Angelo Fraggos, JTM’s Chairman and CEO, commented, “Lincoln’s unique insights into our business model, as well as a deep understanding of the sweet baked goods category drawn from the firm’s extensive experience advising branded and private label food companies, allowed them to share our story and value proposition in a highly compelling manner. Blue Point has been a great partner and we look forward to working with the Kainos team through the next stage of the Company’s development.”
Lincoln acted as exclusive financial advisor to JTM in this transaction, working closely with its shareholders and management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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