Altair acquires alternative meal solution company Wildtree

Alternative asset investment firm Altair Acquisitions has bought all of the material assets of US-headquartered organic sauces manufacturer Wildtree.

Financial details of the deal have not been revealed by either company.

Altair Acquisitions CEO Erik Toth said: “The timing is perfect for an investment in an organisation like Wildtree.

“Consumers are increasingly focused on healthful eating, and Wildtree makes it easier to provide these options to their families every day.

“The company is benefiting substantially from the trend towards subscription-based product delivery and online retailing of innovative food products. We plan to leverage that in significant ways.”

Established in 1999, Wildtree has been engaged in the manufacture of a wide range of products, including spices, oils, mixes, sauces, and meal replacement products. The company operates its manufacturing facility in Lincoln, Rhode Island.

The investment from Altair will enable Wildtree to further expand its presence in new markets with gluten-free, low-sugar, vegetarian, kosher and organic options, and enhance its offerings portfolio.

Wildtree’s product line currently includes spice blends, seasonings, rubs, sauces, marinades, oils and dressings, which are claimed to be certified as organic, non-GMO or kosher.

Wildtree chief operating officer Michael Gilkenson said: “We couldn’t be more excited about having the Wildtree brand and its products as part of the Altair portfolio of companies.

“For over 20 years, Wildtree has given health-conscious families nutritious options to make mealtime special by staying true to our ingredient transparency philosophy. With Altair’s investment, the organisation will continue its presence in the market and can look to a future of innovation and growth.”

For this deal, Larx Advisors served as the financial adviser while Knighton Stone served as legal counsel and Richey May as a tax adviser.