Grain Craft, the largest independent flour miller in the US, announced a definitive agreement to be acquired by Redwood Capital Investments.
Based in Baltimore, MD, Redwood Capital Investments is a permanent holding company with a demonstrated track record of investing in long-standing family-owned businesses across various industries.
“We are extremely excited to partner with Redwood and look forward to continuing to grow our business together,” said Peter T. Frederick, President and CEO of Grain Craft. “Redwood is the ideal long-term home for the largest independent flour miller in the country. They have a clear understanding of the business, its principles, and management’s long-term strategy to create value for all stakeholders.”
As a leading flour miller, Grain Craft provides premium bulk and bagged flours through 13 milling locations across the United States. The company also has a corporate office in Chattanooga, TN, a satellite office in Overland Park, KS, and the Grain Craft Innovation & Quality (GCIQ) Lab in Manhattan, KS. Following completion of the acquisition, Grain Craft will continue to operate as an independent business.
The transaction, which is expected to close in the third quarter of 2022, is subject to customary closing conditions and regulatory approval.
Transaction terms were not disclosed.