KKR Bets on Food Flavorings
PE firm has made an investment in the German food flavoring company which introduced Capri Sun
January 27, 2010
KKR & Co., the New York private-equity firm, has acquired a minority stake in German food flavoring company Rudolf Wild GmbH & Co.
While the deal's transaction value was not disclosed, the deal will mark the first change in family ownership of a business started almost 80 years ago.
Hans-Peter Wild, chairman of Rudolf Wild, which announced the deal on Wednesday, said the transaction enables the company to tap new sources of financing.
A company headquartered in Heidelberg and established by Hans-Peter's father Rudolf in 1931, Rudolf Wild sells flavorings to beverage, dairy, confection and ice cream companies. While its name may not be a household brand in the U.S., Rudolf Wild introduced the popular Capri Sun children's fruit drink to the world in 1969.
For KKR, the investment marks the private-equity firm's latest investment venture, following yesterday's announcement that it formed a joint venture with former Kaplan Inc. chief executive Jonathan Grayer. The partnership will invest in consumer services, education, media and marketing companies.
KKR also announced today it agreed to acquire U.K. pet supply retailer Pets at Home.
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