Private equity firm True Link closes deal to acquire coffee syrup maker for $1 billion
Private equity firm TrueLink Capital is close to completing a deal to acquire Lyons Magnus, valuing the fruit ingredients and beverage manufacturer at about $1 billion, including debt, according to people familiar with the matter. People familiar with the matter said that if there are no unexpected surprises, the relevant announcement will be issued as soon as Monday. Headquartered in California, Lyons Magnus was founded in 1852 and specializes in flavor ingredients and beverages. Its products include coffee syrups, smoothie bases, ice cream sauces, nutritional drinks and fruit purees. Its catering channel customers include chain restaurants and major coffee shops. TrueLink, a buyout private equity firm headquartered in Los Angeles, will acquire Leonce Magnus from PaineSchwartz Partners.