Date
Jul 2022
Region
Iowa
We are pleased to share the sale of our client Natural Products, Inc. to Grain Processing Corporation. The transaction closed July 1, 2022.
Natural Products, Inc. (NPI), based in Grinnell, Iowa, is a leading manufacturer of full-fat soy ingredients made from non-GMO or Certified Organic soybeans. In addition to soybeans, NPI also processes other pulses such as chickpeas. These ingredients often provide both nutritional and functional improvements to many categories.
Seventy-five years of experience in value-added processing led to the formation of NPI in 1995 to process high-quality food-grade soybeans. Soybeans have long been recognized as a source of high-grade vegetable protein and food manufacturers are increasingly using them in their products to increase quality and reduce costs. Today, full-fat soy ingredients are in growing demand worldwide as manufacturers look for simple, innovative ingredients that enhance their products without adding cost or complexity.
Grain Processing Corporation (GPC), located in Muscatine, Iowa, is a member of the KENT Corporation family of companies. GPC primary products include high purity alcohol, corn starches and maltodextrins. GPC sells to customers that use GPC ingredients for beverage alcohol, food products, nutraceuticals, pharmaceuticals, personal care and industrial starch applications. GPC has a deep history of innovation and a strong dedication to quality.
KENT® Corporation (KENT), Muscatine, Iowa, is a diversified, privately held corporation with operating subsidiaries involved in corn wet milling, the production of animal nutrition and the manufacture of high-quality food, beverage, pharmaceutical and pet products. KENT is led by third-generation family member, Gage A. Kent. The KENT family of companies serves customers across the world and employs more than 2,000 people in 40 locations across 20 states and seven countries.
"I am tremendously proud to welcome the NPI team to GPC," stated Jimmy Kent, Sr. Vice President of Sales for GPC. "We are investing further into sustainable quality food production through this family-to-family, Iowa-to-Iowa acquisition, helping us increase our diverse portfolio of products that help feed the growing world."
"Consumers today want transparency, pristine quality and assurance their food is healthy and made to the highest quality standards," said Patrick Homoelle, President of GPC. "With NPI's plant-based, non-GMO, organic and gluten-free ingredient solutions, this acquisition is a great fit with our field-to-family portfolio of businesses."
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior M&A Advisors, Todd McGreevy & Chris Barnard, with the support of Vice President M&A, Madison Buckley, successfully closed the transaction. Senior Managing Director DeWayne Nelon established the initial relationship with NPI.
“We’re very excited for both NPI and GPC. This was a fantastic collaboration between both deal teams and is testament to the trust and mutual respect for each party’s skill sets and industry expertise that was established early on,” said McGreevy.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Food, Beverage & Consumer Products/Services M&A deals page.
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