Benford Capital Partners (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce it has recapitalized Gum Products International, Inc. (“GPI” or the “Company”) in partnership with CEO and Founder Kenneth Tan, who will continue to lead the Company post-closing.  GPI represents the first platform investment in BCP’s $200 million Fund II, which closed in May 2022 at its hard cap. Travis Betters, the CEO of Brothers International, another BCP portfolio company and leading B2B fruit ingredients business, has also joined GPI’s Board of Directors.

Founded in 1992 and based in Newmarket, ON, a suburb of Toronto, GPI is a leading B2B food ingredients company, focusing on proprietary hydrocolloid blends, vinegar-based antimicrobials, and other functional food ingredients and processing agents for a global customer base in North and South America, Europe, and Asia.

“After 30 years of consistent organic growth, we are excited to have a strong partner in BCP to help us build upon our excellent foundation,” said CEO Kenneth Tan. “Our team looks forward to capitalizing on the growth opportunities ahead of us by continuing to provide custom-formulated ingredients to global CPG customers while offering the same level of service and innovation to small, medium, and large sized customers across the food and beverage value chain.”

Commenting on the new investment, BCP Managing Director Ben Riefe said, “Ken Tan and GPI’s Technical Director Henry Liu have built a world class product development and customer service organization. BCP’s experience with similar B2B food ingredients investments enabled us to develop our value creation plan in partnership with GPI’s experienced management team. We are excited about GPI’s prospects under Ken’s and Henry’s leadership.”

Benford Capital and GPI plan to invest in sales and operational leadership, new product development, and research and development to drive organic growth. In addition, the Company will actively pursue add-on acquisitions with a focus on hydrocolloid products, antimicrobials and other dry, powdered functional ingredients and processing agents.

BCP Principal Brian Behm added, “We are excited to partner with Ken, Henry, and the entire GPI team in Newmarket. We look forward to building on their success by leveraging BCP’s Operating Partners and Executive Advisors to help the Company achieve its future growth objectives.”