M&A Deal Summary

KPS Capital Partners Acquires Primient

On July 12, 2021, private equity firm KPS Capital Partners acquired food company Primient from Tate & Lyle for 1.7B USD

Acquisition Highlights
  • This is KPS Capital Partners’ 1st transaction in the Food sector.
  • This is KPS Capital Partners’ 6th largest (disclosed) transaction.
  • This is KPS Capital Partners’ 36th transaction in the United States.
  • This is KPS Capital Partners’ 4th transaction in Illinois.

M&A Deal Summary
Date 2021-07-12
Target Primient
Sector Food
Buyer(s) KPS Capital Partners
Sellers(s) Tate & Lyle
Deal Type Divestiture
Deal Value 1.7B USD

Target

Primient

Decatur, Illinois, United States
Primient is a provider of nutritive sweeteners, industrial starches, acidulants and other corn-derived products. The Company serves customers across a diversified set of end-markets including carbonated beverages, confectionery products, packaging applications and animal feed, among others, and is proud to serve some of the world’s most recognizable food and beverage brands. Primient has employees across three corn wet mills, three acidulant plants and a network of thirteen grain elevators in the United States and Brazil.

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Buyer(S) 1

Buyer

KPS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 13.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $100 million to $1 billion in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York City.

DEAL STATS #
Overall 46 of 55
Sector (Food) 1 of 1
Type (Divestiture) 19 of 24
State (Illinois) 4 of 4
Country (United States) 36 of 42
Year (2021) 5 of 6
Size (of disclosed) 6 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 DexKo Global

Novi, Michigan, United States

DexKo Global is a provider of highly engineered running gear technology, chassis assemblies, and related components with over 130 years of trailer and caravan componentry experience. DexKo Global was founded in 2015 and is based in Novi, Michigan.

Sell $3.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Profile Custom Extrusions

Rome, Georgia, United States

Profile Custom Extrusions is a manufacturer of custom, extruded aluminum profiles and related value-added services including painting, anodizing, thermal break, and precision cutting. Profile provides a variety of custom extruded aluminum profiles to diverse end-markets including residential and commercial construction, HVAC, hurricane protection, transportation, electrical and marine. Profile Custom Extrusions was founded in 1960 and is based in Rome, Georgia.

Buy -

Seller(S) 1

SELLER

Tate & Lyle

London, United Kingdom
Category Company
Founded 1903
Sector Food
Employees4,441
Revenue 1.6B GBP (2024)
DESCRIPTION

Tate & Lyle is a provider of distinctive, high quality ingredients and solutions to the food, beverage and other industries. Tate & Lyle was founded in 1903 and is based in London, the United Kingdom.

DEAL STATS #
Overall 3 of 3
Sector (Food) 3 of 3
Type (Divestiture) 3 of 3
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 Winway Biotechnology Nantong

Nantong, China

Winway Biotechnology Nantong Co. Ltd (“Winway”), a leading producer of polydextrose speciality fibre in the People’s Republic of China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 CP Kelco

Atlanta, Georgia, United States

CP Kelco is a nature-based ingredient solutions company with experience working with food, beverage, consumer and industrial product manufacturers worldwide. The Company's product lines include citrus fiber, gellan gum, pectin, carrageenan, xanthan gum, diutan gum, fermentation-derived cellulose, refined locust bean gum and microparticulated whey protein concentrate. CP Kelco is based in Atlanta, Georgia.

Buy -
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