DEERFIELD, Ill., December 9, 2020 – FoodChain ID, a global leader in food safety, testing and sustainability, today announced that it has entered into a recapitalization transaction with Berkshire Partners, a Boston-based investment firm. Terms of the transaction were not disclosed.
FoodChain ID provides the food industry with technology-enabled safety, quality, and sustainability solutions to navigate the New Food Economy. Its offerings provide the data, technologies, and tools necessary to meet growing demand for higher levels of transparency, accountability, safety, and sustainability across the supply chain. FoodChain ID’s focus areas include food safety, organic and non-GMO verification and testing, and regulatory compliance.
“We are excited to collaborate with Berkshire Partners through the next chapter of our growth,” said Brad Riemenapp, Chief Executive Officer of FoodChain ID. “The Berkshire team understands our business well and shares our vision for the future. My team and I look forward to continuing to support our customers with an expanding suite of global food safety and quality solutions.”
“FoodChain ID plays a critical role in the food economy, helping its customers manage complex supply chains and regulatory requirements so that consumers around the world can have confidence about the quality and safety of the food they eat every day,” said Blake Gottesman, Managing Director of Berkshire Partners. “We’re thrilled to partner with Brad and his team to drive the next phase of FoodChain ID’s growth, including through strategic acquisitions.”
Berkshire Private Equity acquired its position in the company from Paine Schwartz Partners.
Houlihan Lokey and Morrison & Foerster LLP advised FoodChain ID, and Baird, Covington & Burling LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Berkshire Partners on the transaction.