TORONTO — Bartek Ingredients, Inc., has been acquired by Toronto-based private equity firm TorQuest Partners. Bartek manufactures ingredients such as malic acid and fumaric acid for food, beverage and animal nutrition applications. Financial terms of the transaction were not disclosed.
“Demand for malic acid is on the rise globally,” said Matthew Chapman, partner at TorQuest. “Bartek is the market leader in malic acid, with distribution to more than 35 countries around the world. TorQuest is committed to supporting Bartek as it expands its capacity and capabilities to better serve its customers, under the leadership of incoming c.e.o. John Burrows.”
Bartek’s malic acid ingredients can be used to impart a sour flavor reflective of apples and citrus fruits and offer functional benefits, including intensifying flavors, improving aftertaste, and deepening and broadening the flavor profiles. The ingredient supplier also produces fumaric acid products that extend shelf life, improve machinability and deliver a cost-in-use benefit in baked foods such as bread and tortillas.
Established in 1969, Bartek is headquartered in Stoney Creek, Canada, and employs 115 people across its two production facilities in Southern Ontario. With support from TorQuest, Bartek seeks to strengthen its currents growth trajectory.
“TorQuest values Bartek’s proven capabilities and is committed to providing capital equity to support the next stage of Bartek’s growth,” Mr. Chapman said.