Cibo Vita announced that Citation Capital, LLC, a next generation private equity firm specializing in founder and family-led businesses, will acquire a majority interest in its company. Citation will become Cibo Vita's first outside shareholder. Cibo Vita's co-founders Emre Imamoglu (CEO) and Ahmet Celik (President) will continue to hold a significant ownership interest.
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Since 2009, Cibo Vita has created natural and functional snacks for supermarkets, big box chains and warehouse clubs nationwide. The company is a leader in producing high-quality, innovative, value-added products. Cibo Vita is headquartered in Totowa, New Jersey, with three manufacturing facilities and employs over 900 individuals.
Nature's Garden is the company's flagship brand and operates within the smart snacking category with its national presence, focusing on better-for-you snacking.
Together, Cibo Vita and Citation will advance the company's growth trajectory while delivering on the mission of providing smart snacking choices for every household. Citation will work shoulder-to-shoulder with Cibo Vita for continued growth and success.
Nelson Mullins served as the Company's legal advisor. Gibson Dunn acted as legal advisor to Citation. Wells Fargo, Bank of America, and American Ag Credit will lead the committed financing to support the transaction. Closing of the transaction is expected later this year and is subject to customary regulatory and other conditions. Additional terms were not disclosed.
