New Heritage Capital, a Boston-based private equity firm focused on mid-market, founder-owned businesses, has exited its investment in Revela Foods, a developer and manufacturer of dairy-flavoured ingredients and solutions, to ADM, a global human and pet nutrition company.
Revela Foods is headquartered in New Berlin, Wisconsin, US and was created through the 2016 merger of Welcome Dairy and Gamay Food Ingredients. The company has approximately 400 employees and operates three production facilities in the US Midwest.
In a statement, Terry Schneider, CEO of Revela Foods, said: “Over the last few years we have expanded our management team, added new product capabilities, launched a comprehensive go-to-market strategy – including a new brand – and completed a significant acquisition, all resulting in significant growth.”
Houlihan Lokey and Lincoln International acted as financial advisors and Choate Hall & Stewart and Reinhart Boerner Van Deuren acted as legal advisors to Revela Foods and New Heritage respectively.
