Private equity firm Grey Mountain Partners has acquired Mediterranean food maker and distributor Kronos Foods.
Financial details about the acquisition have not been disclosed.
Based in Glendale Heights, Illinois, Kronos sells gryo meat, hummus, baklava desserts, pita bread, flatbread, filo products, pre-formed gyro cones, sausages and yogurt.
Kronos mainly targets food service providers including fast-food outlets, schools, restaurants, hotels, corporate and military organisations and caterers across US and Canada.
Grey Mountain Affiliate Manager Beth Lesniak said: “Kronos has differentiated itself as a leading Mediterranean food manufacturer in the U.S. with a focus on quality and innovation.
“We believe that Grey Mountain’s growth capital and operational support will allow the Company to better serve both new and existing customers.”
Kronos claims to have been the first to introduce pre-formed gyro cones. The company, over the years has established itself as a diversified Mediterranean food maker.
Kronos CEO Howard Eirinberg said: “We are delighted to partner with Grey Mountain in the next stage of our growth. Grey Mountain shares our excitement for the Mediterranean food space.
“We look forward to their support as we execute on an array of growth opportunities that are driven by innovative, market-leading new products such as KronoBroil premium gyros slices.”
Grey Mountain Partners focuses on investing in small and middle-market companies in a wide range of industries.
At present, the company has $700m of investments and the present acquisition has been made from its third fund which was raised in 2013.
