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Southlake-based Ancor Capital sells Liguria Foods to CTI Foods

Private equity firm Ancor Capital Partners has sold Liguria Foods Inc., a portfolio company, to CTI Foods, a portfolio company of Thomas H. Lee Partners and Goldman Sachs & Co., for an undisclosed amount.

Southlake-based Ancor, along with co-investor Brown Brothers Harriman Capital Partners (BBH), acquired Liguria Foods in 2008 as a part of a spin-out of a division of a larger publicly held company.

Founded in 1974 and headquartered in Humboldt, Iowa, Liguria manufactures high-quality branded and private-label pepperoni to independent and multi-unit pizzerias and sandwich shops. The company also makes protein pizza toppings and other dry sausage products.

“When we originally were presented the investment opportunity, we were able to identify an executive team to transition Liguria into an independent entity, and partnered with Brown Brothers Harriman to buy the division,” said Ancor Managing Director Ray Kingsbury. “Since the acquisition, we’ve made strategic investments in the team and the plant in order to grow the company. Liguria also experienced organic growth by adding new customers and further penetrating existing customers.”

BlackArch was retained by Ancor Capital Partners and BBH as their exclusive financial adviser.

Ancor Capital Partners focuses on lower middle-market companies with EBITDA of $5-$15 million. Ancor has made 45 acquisitions to date in health care, consumer and other industries.

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