US-based private equity firm Kainos Capital has sold clean label solutions provider Florida Food Products to an affiliate of MidOcean Partners.

Kainos Capital’s managing partner Andrew Rosen said: “Our interest in Florida Food was driven by our belief in the importance of functional ingredients that provide demonstrable health benefits and the overall movement by consumers toward clean label products.

“This thesis also led to other investments by our firm in companies such as Milk Specialties Global, InterHealth Nutraceuticals and Kettle Cuisine.

“We are pleased by our successful partnership with the Brown family and believe that Florida Food is positioned for a very exciting future.”

“Our interest in Florida Food was driven by our belief in the importance of functional ingredients.”

US-based Florida Food is a formulator and manufacturer of vegetable and fruit-based ingredients. The company has been offering healthy, natural and on-trend ingredients for more than six decades.

Florida Food CEO Jim Holdreith said: “Our collaboration with Kainos has been instrumental in our ability to capitalise on the growth opportunities in our key markets.

“The Kainos team helped us to recruit a world-class team, invested heavily in our operating facility and set us up for continued success.”

One of Florida Food’s founding family Jerry Brown said: “Choosing to partner with Kainos in 2016 was a great choice.

“They did everything they said they would do when we first met and we’re thrilled that they helped us craft and achieve our vision for Florida Food.”

For this transaction, Houlihan Lokey served as financial adviser to Florida Food, while Winston & Strawn served as legal adviser.