Benford Capital Partners (“Benford Capital” or “BCP”), a Chicago-based lower middle market private equity firm, today announced the sale of its portfolio company Brothers International Food Holdings (“Brothers” or the “Company”) to SK Capital Partners (“SK Capital”). Terms of the transaction were not disclosed. The transaction exemplifies BCP’s consistent, long-term strategy of building founder and family held companies into scaled, professional platforms.

Founded in 2001 and based in Rochester, New York, Brothers specializes in supplying exotic and tropical fruit ingredients and freeze-dried fruit snacks to leading food and beverage companies. The company serves as a key link in the global fruit ingredient supply chain, sourcing fruit concentrates, purees, and related ingredients from more than thirty countries of origin. Additionally, Brothers operates a complementary consumer products division that is a leading provider of branded, private label, and co-branded freeze-dried fruit snacks across grocery, mass, drug, and e-commerce channels.

In 2020, BCP partnered with Brothers’ founder Travis Betters. Over the course of its five–year investment, the Company’s revenue and earnings grew by more than seven-fold, driven equally by organic growth and strategic add-on acquisitions. Under BCP’s ownership, Brothers completed three complementary acquisitions of related ingredient businesses and expanded its employee base from approximately 32 to 120, transforming Brothers into a leading fruit ingredients platform in North America.

“Brothers is a great example of BCP’s approach to value creation and building founder-led businesses in partnership with management,” said Ben Riefe, Managing Director of Benford Capital. “It was clear from the early days of our partnership that Brothers had a winning strategy — an exceptional team with deep industry relationships, a differentiated value proposition, and a loyal and growing customer base. Our growth plan focused on building the leadership team, winning business with both new and existing customers, and executing strategic M&A.”

Brendan Green, Managing Director of Benford Capital, added, “The acquisition and integration work at Brothers was a meaningful driver of the Company’s growth over our hold period. Each of the three add-on acquisitions expanded Brothers’ sourcing capabilities and deepened its customer relationships in a targeted way. We are grateful to Travis and his entire team for their partnership and could not be prouder of what they built.”

Travis Betters, Founder and CEO of Brothers, said, “Partnering with Benford Capital was one of the best decisions I’ve made as a business owner.  Ben, Brendan, and the BCP team were genuine partners throughout.  They helped us recruit leadership we could not have attracted on our own, supported our acquisition strategy, and invested in the systems and infrastructure that allowed us to grow at the pace we did. I’m proud of what this team has built, and I’m excited for Brothers’ next chapter with SK Capital.”

Harris Williams served as exclusive financial advisor to Brothers in connection with the transaction, and DLA Piper served as legal counsel.

About Brothers International Food Holdings

Founded in 2001 and headquartered in Rochester, New York, Brothers International Food Holdings is a global fruit ingredient supplier and freeze-dried snack platform serving leading food and beverage companies worldwide. The company sources fruit concentrates, purees, and related ingredients from more than thirty countries and operates a complementary consumer products division offering branded and private label freeze-dried fruit snacks across grocery, mass, drug, and e-commerce channels. For more information, visit www.brothersinternational.com.

About Benford Capital Partners

Founded in 2004, Benford Capital Partners is a Chicago-based, operationally oriented private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, BCP has acquired over 70 companies and currently owns 15 platform companies. BCP’s industry areas of focus include Food, Ingredients & Consumer Products, Industrial Technology & Manufacturing, Specialty Services & Distribution, and Agricultural Products & Services. For more information, please visit www.benfordcapital.com.

For additional information about this transaction, please contact Ben Riefe (ben@benfordcapital.com) or Brendan Green (brendan@benfordcapital.com).