Altair dines out on Wildtree deal

Altair Acquisitions has purchased US-based Wildtree, a manufacturer of organic and allergen-sensitive meal replacement products, for an undisclosed sum.

The transaction will allow the buyer to grow its offerings and expand into new markets which provide gluten-free, low sugar, vegetarian and specialty options for customers.

Formed in 1999, Wildtree makes a range of meal replacement products and recipes that cater to a variety of dietary restrictions and preferences.

Its offerings include spice blends, seasonings, rubs and sauces, as well as meatballs, salads and stews, the majority of which are certified as organic, non-genetically modified and kosher.

The company also provides a series of meal programmes, such as Wildtree Kits and Wildtree Wellness, containing recipes and step-by-step cooking guides for customers to use at home.

Wildtree’s menu planning application also allows users to create a weekly meal schedule based on their preferences and food allergies.

Following the acquisition, the target will continue to manufacture its products from its headquarters in Rhode Island.

Erik Toth, chief executive of Altair, said: “The timing is perfect for an investment in an organisation like Wildtree. Consumers are increasingly focused on healthful eating, and Wildtree makes it easier to provide these options to their families every day.

“The company is benefiting substantially from the trend towards subscription-based product delivery and online retailing of innovative food products. We plan to leverage that in significant ways.”

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Altair’s chief investment officer, Tracy Williams, said the deal will generate value for shareholders through the deployment of growth capital, expansion of historical revenue streams and the diversification of Wildtree’s distribution outlets.

Zephyr, the M&A database published by Bureau van Dijk, shows there were 1,987 deals targeting food manufacturers announced globally in 2019.

The largest of these took the form of an acquisition and involved Henan Shuanghui Investment and Development agreeing to buy China-based Henan Luohe Shuanghui Industrial Group for CNY 40.17 billion (USD 5.79 billion).

© Zephus Ltd

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