CTI supplies customized protein products, soups, and beans for casual dining and quick serve restaurants. At the time of Littlejohn’s acquisition the business was profitable and highly regarded, but was a regional supplier with a concentrated customer base, had management succession issues, a limited product line, and an unclear strategy for differentiation and growth.
During our ownership period, Littlejohn recruited a new CEO of the business, then together with CTI’s management team, expanded the company into a leading national provider of custom, value-added food products by building a new state-of-the-art soup plant and R&D facility, completing two acquisitions, and developed several major new accounts that diversified its customer base. CTI was successfully re-positioned as the industry-leading supplier of custom food solutions to quick serve restaurants. Revenues and EBITDA doubled in three years and the company was acquired by a large PE consortium in 2013.
STATUS: Realized Investment
SECTOR(s): Consumer; Food & Beverage