Altair Acquisitions has acquired the assets of Wildtree, a manufacturer of organic and allergen-sensitive food products.

Wildtree’s products include spice blends, seasonings, rubs, sauces, marinades, oils, and dressings. Most Wildtree products are certified organic, Non-GMO or kosher. The company was founded in 1993 and is headquartered in Lincoln, Rhode Island.

“We couldn’t be more excited about having the Wildtree brand and its products as part of the Altair portfolio of companies,” said Michael Gilkenson, chief operating officer of Wildtree. “For over 20 years, Wildtree has given health-conscious families nutritious options to make mealtime special by staying true to our ingredient transparency philosophy. With Altair’s investment, the organization will continue its presence in the market and can look to a future of innovation and growth.”

“The timing is perfect for an investment in an organization like Wildtree,” said Erik Toth, chief executive officer of Altair. “Consumers are increasingly focused on healthful eating, and Wildtree makes it easier to provide these options to their families every day. The company is benefiting substantially from the trend towards subscription-based product delivery and online retailing of innovative food products. We plan to leverage that in significant ways.” Post-closing, Altair’s strategy is to increase Wildtree’s product offerings and expand into new markets where customers are seeking gluten-free, low-sugar, vegetarian, kosher, and organic options.

“Our plan includes partnering with legacy sales representatives and customers that effectively built the original business, and who we enthusiastically embrace as part of the future of the business, to continue the culture of excellence that has been a hallmark of Wildtree’s product offering and customer experience model for many years,” said Tracy Williams, chief investment officer of Altair. “The value creation opportunity for the company’s new investors is substantial due to the thoughtful deployment of growth capital, alongside the expansion of historical revenue streams and diversification of Wildtree’s distribution outlets.”

Altair makes control investments in companies that have revenues of more than $10 million and EBITDA from $2 million to $10 million. Typical enterprise values range from $2 million to $50 million. Sectors of interest include financial and business services; consumer, retail and dining; distribution and logistics; industrial, manufacturing and energy; technology, media and telecom; and healthcare. The firm was founded in 2019 and is headquartered north of Dallas in Frisco, Texas.

Private Equity Professional | April 28, 2020

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