Private-equity firm company Anacacia Capital has acquired a majority stake in Australia-based dairy supplier Procal.
In a statement announcing the deal, Anacacia described Procal as “one of Australia’s leading independent dairy processors”.
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Melbourne-based Procal, which started trading in 2003, markets a range of dairy products under its namesake brand.
The company, founded by father and son Nick and Adam Thyssen, has a product range that also includes fruit juices under The Great Australian Squeeze and Milla’s brands. It sells to retail, foodservice and manufacturing customers.
The financial terms of the transaction were not disclosed.
In the statement, Anacacia Capital said the deal was a “classic Anacacia style investment, helping retired founders to sell a majority stake and partner the next generation to take the business up a level”.
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By GlobalDataInvesment director Ranitha Mapatuna added: “We have long admired the Procal team for their entrepreneurial drive, differentiated offering and success in building a strong brand. We are delighted to partner with them and support their plans to grow Procal’s presence in Australia.”
Procal CEO Laney Quinn said “partnering with Anacacia marks an exciting new chapter for us”.
Quinn added: “Their deep experience with family business and a relationship built over ten years made them a natural fit.
“Together, we’re looking forward to strengthening our operations, expanding our capacity, expanding our family legacy and continuing to deliver on our promises to customers, suppliers and staff.”
