- FFP has more than doubled over the last year, with revenue approaching $300 million
- Since Ardian took over the majority stake from MidOcean in 2021, FFP has also acquired Comax and T-Bev
- The addition of Javo aims to further diversify FFP’s offerings
Florida Food Products, backed by Ardian and MidOcean Partners, has agreed to acquire Javo Beverage Company.
FFP is a provider of natural ingredients. It was founded in 1954 and is headquartered in Eustis, Florida. It produces so called “clean-label” ingredients based on fruits, vegetables and botanicals. FFP has scaled dramatically and has more than doubled over the last year, with revenue approaching $300 million, according to the deal announcement.
Founded in 2021 and based in Vista, California, Jabo specializes in “cold-brew,” using a proprietary process to produce clean-labeled coffee, tea and botanical extracts for the food and beverage industry.
“Javo is an impressive organization, which will play a critical role in our continued expansion in the beverage category,” said Christopher Sand, managing director of Ardian’s buyout team. “Javo’s innovative products complement FFP’s portfolio of natural ingredients and will position the company for accelerated growth. We intend to continue our strategy of building the world’s largest independent provider of clean-label ingredients.”
Ardian, based in Paris, bought the majority stake in FFP from MidOcean, with the New York firm retaining a minority stake, back in 2021. The Javo deal represents the third acquisition for FFP since Ardian invested, with the others being Comax Flavors and T-Bev.
The Javo acquisition is expected to close in the third quarter of 2022.