SK Capital Partners LP on Wednesday, April 22, announced its acquisition of food importer, distributor and supplier Brothers International Food Holdings LLC from Benford Capital Partners LLC.

SK Capital didn’t disclose the financial terms of the transaction but said that it has taken a controlling stake alongside founder and CEO Travis Betters, who will retain his role and his significant stake in the company. The firm said that it plans to support the company’s continued expansion organically and through strategic add-on acquisitions.

The acquisition comes after The Deal reported in September that Benford Capital had tapped Harris Williams LLC to explore a sale of the business, which sources said at the time generated around $25 million in Ebitda.

Rochester, N.Y.-based Brothers International is an importer and distributor of bulk fruit ingredients for the food and beverage industry. The company supplies fruit concentrates, purees and powders to large multinational food and beverage manufacturers.

Brothers International has offices in the U.S., China and Ecuador, maintaining direct ties to growers and processors, and specializes in importing hard-to-find tropical and exotic fruit ingredients.

Benford Capital acquired Brothers in 2020 in partnership with Betters to expand the platform through add-on acquisitions.

In 2021, it added on Dennick FruitSource, a supplier of tropical fruit juices, concentrates and purees, and in 2023 it tacked on Hosh International LLC, a supplier of fruit and vegetable juice concentrates and purees.

New York-based SK Capital focuses on specialty materials, ingredients and life sciences companies, with a track record of carving out and scaling high-performance platforms. It invests from its flagship strategy in upper middle market and large companies and from its Catalyst funds in smaller and midsize companies.

It closed its sixth flagship fund with $2.95 billion in commitments in 2024.

Benford Capital is a Chicago-based private equity firm that focuses on lower middle market companies with revenue between $10 million and $200 million and Ebitda ranging from $3 million to $20 million.

Its portfolio company Turri’s Italian Foods LLC acquired LaSalle Capital Group LP holding Joseph’s Gourmet Pasta Co. in July. Last February, its Legacy Bakehouse LLC acquired Mannon Specialty Inc., a baker of premium cookie products, for an undisclosed amount.

Principal Rob Abrams and managing director Jack Norris were on the deal at SK Capital, which tapped Alantra Capital for financial advice and a King & Spalding LLP led by Rahul Patel and John M. Hyman for counsel. Bain Capital LLC provided committed debt financing.

Brothers International looked to Harris Williams for financial advice and DLA Piper for counsel. DLA Piper also advised Benford on the Joseph’s add-on.