Ingredients Supplier Lyons Magnus Acquired by Private Equity Firm

Truelink Capital, a Los Angeles-based private equity firm, has completed the acquisition of Lyons Magnus, a Fresno-based specialty ingredients and beverage solutions manufacturer, in a transaction valued at approximately $1 billion. The deal marks the second major ownership transition for Lyons Magnus, which was previously held by New York-based Paine Schwartz Partners since 2017.

Founded in 1852, Lyons Magnus operates a diversified portfolio encompassing syrups, sauces, beverage bases, concentrates, nutrition products, and specialty ingredients primarily serving the foodservice and away-from-home segments. Under Paine Schwartz's nine-year stewardship, the company achieved substantial growth, nearly doubling sales to exceed $1 billion in annual revenue—a metric that underscores meaningful operational improvement and market expansion during the prior holding period.

Todd Golditch, co-founder and managing partner of Truelink Capital, characterized Lyons Magnus as occupying "a market-leading position in the attractive and growing specialty ingredients category." The acquirer's stated strategic thesis centers on accelerating growth through commercial organic initiatives and disciplined add-on acquisitions, positioning the company to benefit from secular demand trends including increased beverage innovation in foodservice channels and rising consumer preference for health-focused and nutrition-oriented products. CEO Jim Davis will continue leading the business, reflecting management retention and alignment with Truelink's operational vision.

Morrison Foerster advised Paine Schwartz Partners and Lyons Magnus on the transaction, documenting the sale's completion on July 27, 2026. The acquisition exemplifies continued private equity activity within specialty ingredients and food-adjacent supply chains, where consolidation and professional management have driven substantial value creation and market positioning improvements.