CHICAGO, IL – March 21, 2019 – Tilia Holdings (“Tilia”), a private investment firm strategically focused on business services within the food supply chain, has officially announced the acquisition of Proven Partners Group, LLC (“Proven Partners Group” or “PPG”), a leading contract manufacturer and packager specializing in dry and powdered foods. The acquisition, finalized on February 22, 2019, marks a significant expansion for Tilia and strengthens Proven Partners Group’s position in the competitive food manufacturing landscape. Based in Elgin, Illinois, Proven Partners Group has built a strong reputation for serving global food and beverage brands across diverse product categories. Their expertise spans meal replacement and protein powders, coffee, snacks, creamers, cereals, baking ingredients, and a wide array of other dried and powdered food products.
Proven Partners Group distinguishes itself through its comprehensive blending and packaging capabilities, coupled with flexible service offerings. This allows their clients to efficiently manage complex product portfolios and broaden their distribution channel offerings, responding effectively to market demands and consumer preferences. Dave Nelson, a co-founder of Proven Partners Group, will take the helm as Interim Chief Executive Officer, ensuring continuity and leveraging his deep understanding of the company’s operations and client relationships. “Proven Partners was built upon a foundation of core principles emphasizing food safety, quality, and supply chain reliability. Over the past fourteen years, this commitment has enabled us to forge strong, strategic relationships with some of the most respected global brands in the food, nutrition, and health science sectors,” Nelson stated. “In seeking a partner, it was crucial for us to find a firm with deep industry experience and shared values. We are enthusiastic about embarking on this new chapter with Tilia, a partnership that will undoubtedly enhance our dedication to serving our valued customers.”
Reinforcing Tilia’s commitment to Proven Partners Group’s growth and operational excellence, Suley Muratoglu, formerly Chief Commercial Officer of Owens-Illinois and VP of Marketing and Product Management at Tetra Pak, has been appointed as President. Further strengthening the leadership team, Ron Markle, who previously served as Chief Financial Officer of Mérieux NutriSciences North America, has joined Proven Partners Group as CFO.
Johannes Burlin, Co-CEO of Tilia, who will assume the role of Chairman of the Board at Proven Partners Group, expressed his enthusiasm: “We are thrilled to collaborate with the team at Proven Partners Group, whose values and vision align seamlessly with our own regarding the significant growth opportunities within this market segment.” Eric Larson and JD Elder from Tilia have also joined the Board of Proven Partners Group, adding further strategic and operational expertise.
Eric Larson highlighted the strength of Proven Partners Group’s existing relationships: “PPG boasts some of the most robust customer relationships we have encountered. These relationships are a direct reflection of the organization’s unwavering commitment to service excellence, stringent food safety standards, and their proactive approach to helping customers innovate and deliver exceptional products.”
Mayer Brown LLP acted as the legal advisor to Tilia in this acquisition, and LBC Credit Partners provided the necessary debt financing to support the transaction.
About Proven Partners Group
Proven Partners Group is a premier outsourced provider of manufacturing and packaging solutions, catering to major players in the food and beverage industry, particularly within the food, nutrition, and health science categories. Established in 2005 and headquartered in Elgin, Illinois, Proven Partners Group specializes in handling dry and free-flowing products, utilizing a range of blending, filling, and packaging technologies. Their flexible solutions are designed to empower clients to effectively manage and expand their product lines. Proven Partners Group upholds the highest standards in food safety, holding certifications from the Safe Quality Foods Institute, underscoring their commitment to quality and safety. For more comprehensive information, please visit www.provenpartnersgroup.com.
About Tilia Holdings
Tilia Holdings, based in Chicago, is a private investment firm exclusively dedicated to the food supply chain sector. Employing an interdisciplinary investment approach, Tilia partners with business services companies that support both established and emerging CPG brands. Tilia’s investment team brings together complementary expertise in operations and finance, offering valuable support in scaling and developing middle-market companies. Tilia’s focused investment strategy has been honed over three decades, emphasizing stewardship across brand, human, social, and financial capital. To learn more about Tilia Holdings, please visit www.tiliallc.com.
