International Fiber Corporation has acquired Fibred, a provider of premium soy fibre products for numerous food end-markets, its first acquisition since being acquired by private equity firm Arsenal Capital in August.
Founded in 1898 and headquartered in Cumberland, Maryland, Fibred manufactures dietary soy fibre sold globally for use in baked goods, meats, cereal, dairy products, health foods, and many other applications. The acquisition builds on IFC's industry leading position in insoluble fibre products, and adds significant breadth to IFC's product offering and manufacturing capabilities through Fibred's unique "wet" process. Fibred's flagship product is sold under the trade name FI-1 Soy Fibre.
"We're excited to add to IFC's market leading offering, and know our customers will benefit from our ability to serve a larger variety of their fibre needs. Fibred's product and processes enhance the usability of fibre in food with best-in-class consistency in baking and formulation, neutral taste, and lack of 'grittiness' in addition to the functional and health benefits of insoluble fibre," says Ken Blackburn, IFC's CEO.
"The acquisition of Fibred is part of our plan to significantly expand IFC's presence both in North America and internationally. We plan to continue to support the growth of IFC with acquisitions as well as new product offerings to make it a more valuable supplier to the industries that we serve," added Sal Gagliardo, an Operating Partner at Arsenal.