Grey Mountain Partners acquires Mediterranean food manufacturer Kronos Foods

Grey Mountain Partners, a US-based private equity firm, has acquired Illinois-based Kronos Foods, a Mediterranean food manufacturer and distributor, primarily serving the foodservice market.

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

Kronos CEO Howard Eirinberg said: “We are delighted to partner with Grey Mountain in the next stage of our growth.

"Grey Mountain shares our excitement for the Mediterranean food space. We look forward to their support as we execute on an array of growth opportunities that are driven by innovative, market-leading new products such as KronoBroil™ premium gyros slices.”

Kronos Foods offers gyro meat, pita, flatbread, filo products, hummus, and sauces in the US and Canadian markets.

Grey Mountain affiliate manager Beth Lesniak said: “Kronos has differentiated itself as a leading Mediterranean food manufacturer in the US with a focus on quality and innovation. We believe that Grey Mountain’s growth capital and operational support will allow the company to better serve both new and existing customers.”

Grey Mountain invests in small and mid-segment companies across a wide range of industries. It manages approximately $700m of assets, and is currently investing from its third fund, which was raised in 2013.