By Gerelyn Terzo, Global AgInvesting Media
Chicago, Illinois-based private equity firm AGR Partners, which has invested $800 million across funds since 2012, has added another company to its portfolio. AGR Partners announced it has made a strategic investment into Vita-Pakt Citrus Products Company, a Bakersfield, California-based processor and supplier that specializes in high-quality industrial citrus ingredients and juices. Founded in 1957, Vita-Pakt is embedded in California’s citrus value chain for companies around the world. AGR Partners made the investment from its Fund III, whose other holdings include Staughton Group, Shell Rock, Prime Time Produce, Rembrandt Foods and the Protein Processing Company.
Vita-Pakt expects AGR Partners’ capital injection to bolster its strategic growth plans while strengthening its operational capabilities and ensuring its reputation as a trusted supplier of citrus products. California serves as the leading U.S. citrus producer for products such as oranges, lemons, mandarins and grapefruit. The Golden State’s citrus production hovers at 4.1 million tons for a production value of $2.5 billion as of the 2023-2024 season.
Vita-Pakt has added Terry Chambers, the former president of FruitSmart Inc., and Tom Abrahamson to its board of directors, who bring a combined 40-plus years of experience in fruit processing and ingredients. Additionally, Vita-Pakt has tapped Cargill alum William Barksdale as president, bringing three decades of leadership experience in which he successfully led regional and global agri-businesses.
AGR Partners Managing Partner Ejnar Knudsen stated, “We are excited to partner with Vita-Pakt and invest alongside members of the founding family. The company’s rich history, leadership in California citrus processing, and strong position in value-added ingredient manufacturing make it an ideal strategic fit for AGR. We look forward to supporting the Vita-Pakt team as they continue to innovate and expand their offerings for customers.”
Vita-Pakt President William Barksdale said, “This investment from AGR Partners is a significant milestone for Vita-Pakt. As a company with more than six decades of citrus experience, we are proud to build on that legacy through our partnership with AGR.”
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