International Fiber Corporation Announces Acquisition of Fibred With Backing By Arsenal Capital Partners
NEW YORK, Oct. 16, 2013 /PRNewswire/ -- International Fiber Corporation ("IFC"), a leading supplier of insoluble fiber products for food, pharmaceuticals and industrial applications globally, has announced the acquisition of Fibred, a leading provider of premium soy fiber products for numerous food end-markets. This acquisition marks IFC's first transaction since its acquisition by Arsenal Capital which occurred on August 27, 2013.
Founded in 1898 and headquartered in Cumberland, Maryland, Fibred manufactures dietary soy fiber sold globally for use in baked goods, meats, cereal, dairy products, health foods, and many other applications. The acquisition builds on IFC's industry leading position in insoluble fiber products, and adds significant breadth to IFC's product offering and manufacturing capabilities through Fibred's unique "wet" process. Fibred's flagship product is sold under the trade name FI-1 Soy Fibre®.
"We're excited to add to IFC's market leading offering, and know our customers will benefit from our ability to serve a larger variety of their fiber needs. Fibred's product and processes enhance the usability of fiber in food with best-in-class consistency in baking and formulation, neutral taste, and lack of 'grittiness' in addition to the functional and health benefits of insoluble fiber," said Ken Blackburn, IFC's CEO.
"The acquisition of Fibred is part of our plan to significantly expand IFC's presence both in North America and internationally. We plan to continue to support the growth of IFC with acquisitions as well as new product offerings to make it a more valuable supplier to the industries that we serve," added Sal Gagliardo, an Operating Partner at Arsenal.
To learn more about IFC and its products go to: http://www.ifcfiber.com.
To learn more about Fibred and its products go to: http://www.fibred.com.
About International Fiber Corporation
Founded in 1917, and headquartered in North Tonawanda, NY, IFC is the industry leader in insoluble fiber products, providing exceptional service and customized product solutions. IFC's fiber is used in food applications for a variety of functions including improving taste and texture, enhancing yield and processability, and numerous health benefits. In industrial applications, IFC's fiber is used to thicken paints, strengthen rubber used in industrial hoses and belts, for filtration as well as to control viscosity in thermoplastics. IFC's products include brands such as Solka-Floc, Alpha-Cel, KEYCEL, JustFiber, FloAm, Qual Flo, and NutraFiber. IFC has operating facilities in North Tonawanda, NY, Urbana and Oberlin, OH, Nitro, WV and Temse, Belgium.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm's operational improvement capabilities. Arsenal currently has $1.7 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE Arsenal Capital Partners