Janesville, Wis.-based IPMF LLC (or NaturPak), a co-manufacturer and co-packer of bone broths, soups, sauces, and wet pet food, as well as high-growth ingredients, has been sold from private-equity firm Trivest Partners LP to PPC, another investment firm. Terms of the deal were not disclosed.
Trivest originally partnered in October 2020 with NaturPak through a minority investment at the time. NaturPak was founded in 2007, and according to Trivest, went through a major transformation from a small, specialty co-man into a scaled, multi-segment platform during the Trivest partnership. Today, NaturPak serves consumer and pet brand companies across a wide range of end markets.
Aaron Jackson, CEO of NaturPak — who will continue in the role under PPC’s management — agreed that Trivest’s support and vision were “instrumental” in scaling up NaturPak over the years. PPC expects to support NaturPak’s future growth, investing in product development and R&D, expanding bone broth, pet products and ingredients capabilities, and introducing new packaging format options, the company said.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.