March 21, 2019
CHICAGO, IL – March 21, 2019 | Tilia Holdings (“Tilia”), a Chicago-based private investment firm focused on business services for the food supply chain, completed its investment in Proven Partners Group, LLC (“PPG” or the “Company”) on February 22, 2019. Headquartered in Elgin, Illinois, PPG is a leading contract manufacturer and packager of dried and powdered foods. The Company services global food and beverage customers across a variety of categories, including meal replacement and protein powders, coffee, snacks, creamer, cereal, baking items and other dried and powdered products. PPG’s blending and packaging capabilities and flexible service offerings enable its customers to better manage their complex product portfolios and expand their distribution channel product offerings.
Dave Nelson, a co-founder of PPG, will be leading the company as its Interim Chief Executive Officer. “Proven Partners was founded on a set of core principles focused on food safety, quality and the criticality of supply chain attainment, and over the last fourteen years, we have built strategic relationships with some of the world’s largest and most sophisticated brands in food, nutrition, and health science,” Dave said. He added, “We sought a partner with deep experience in our industry who shared the same core principles. We are excited to begin our next journey with Tilia, who will enhance our continued commitment to our customers.” Tilia has recruited Suley Muratoglu, former Chief Commercial Officer of Owens-Illinois and previously Vice President of Marketing and Product Management of Tetra Pak, to join as President. Ron Markle, former Chief Financial Officer of Mérieux NutriSciences North America, has also joined the company as CFO.
Johannes Burlin, Co-CEO of Tilia who will serve as Chairman of the Board, said, “We are delighted to work with the team at PPG who shares our values and vision for the growth opportunities in the segment.” Eric Larson and JD Elder of Tilia have also joined the Board of PPG.
Eric added, “PPG has some of the strongest customer relationships we have ever seen. Their relationships are a testament to the entire organization’s intense focus on service quality, high food safety standards, and helping their customers deliver innovative products.”
Mayer Brown LLP served as legal advisor to Tilia, and LBC Credit Partners provided debt financing in support of the transaction.
PPG is an outsourced provider of manufacturing and packaging services to major food and beverage companies operating across the food, nutrition, and health science categories. Founded in 2005, PPG is based in Elgin, Illinois. PPG primarily produces dry and free flowing products across multiple blending, filling, and packaging technologies, offering flexible solutions to help customers manage and expand their product portfolios. PPG maintains the highest level of food safety certification for manufacturing and quality as provided by the Safe Quality Foods Institute. For more information, please visit www.provenpartnersgroup.com.
Tilia is a Chicago-based private investment firm focused exclusively on the food supply chain. Through an interdisciplinary approach to investing, Tilia partners with business services companies that support leading and emerging CPG brands. Tilia’s investment team has complementary skills across operations and finance and provides expertise in scaling and growing middle-market companies. Tilia’s sector-focused investment strategy has been cultivated across three-decades. Its governance process emphasizes stewardship in four types of capital: brand, human, social, and financial. For more information, please visit www.tiliallc.com.
July 26, 2021