Main dairy ingredient provider to be acquired

LOS ANGELES — Los Angeles-based personal fairness agency Butterfly has reached an settlement to amass Milk Specialties International, a vertically built-in producer of dairy merchandise. Meals-focused Butterfly has acquired Milk Specialties from American Securities LLC, a non-public fairness agency that has owned the dairy enterprise since August 2016.

The human diet enterprise of Milk Specialties International, a human and animal diet firm, is a producer of whey and milk protein elements used primarily within the sports activities diet and purposeful meals finish markets. Milk Specialties is the world’s largest producer of whey protein isolate, in keeping with Butterfly. , isolates, micellar casein, lactose, and permeate.

The Animal Vitamin enterprise gives merchandise for the dairy business.

Milk Specialties was based in 1949 and relies in Eden Prairie, Minnesota. The corporate operates 12 manufacturing services unfold throughout Wisconsin, Minnesota, Nebraska, Illinois, Idaho and California.

Its merchandise are utilized in a wide range of finish merchandise, together with bars. Confectionery; Frozen desserts; Drinks; Extruded and textured merchandise;

The corporate has been led by David Lenzmeier as Chief Government Officer for the previous 14 years. Butterfly mentioned he’ll proceed to serve in that position underneath new possession.

“We’re assured that Milk Specialties’ business management and best-in-class group, mixed with our area experience, will drive our enterprise to even higher success within the years to come back. CEO Adam Wagrey and Dustin Beck “I can not wait to see what we are able to obtain collectively.”

Based in 2016, Butterfly’s portfolio corporations embody Chosen Meals, MaryRuth Organics, Pete and Gerry’s Organics, Orgain, Bolthouse Farms, Pacifico Aquaculture and Fashionable Restaurant Ideas. So far, Butterfly has invested over $10 billion of his fairness.

Phrases of the transaction, which is anticipated to shut within the first quarter of 2023, weren’t disclosed.

Goldman Sachs & Co. LLC, Credit score Suisse Securities (USA) LLC, and Rabo Securities USA, Inc. acted as monetary advisors to Milk Specialties.