Investment Firm Ardian Acquires Majority Stake in Florida Food

Investment firm Ardian SAS has acquired a majority stake in Florida Food Products in a deal valuing the ingredient maker at more than $1 billion including debt.

MidOcean Partners, the existing backer of the food producer, will retain what the companies in a joint statement called a “significant” stake without providing further details of the terms.

Florida Food Products, founded in 1954, works with food producers on so-called clean-label products made with natural ingredients, according to its website. It specializes in processes such as food protection in cured meat and extraction of tea, coffee and vegetable juice.

“What we ...