Houlihan Lokey Advises Revela Foods

Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Revela Foods (Revela), a portfolio company of New Heritage Capital (New Heritage), has been acquired by ADM.

This deal represents another successful transaction for Houlihan Lokey in the specialty ingredients space.

Revela develops and manufactures innovative dairy flavor ingredients and solutions. Revela has delivered rapid growth, driven by its innovative enzyme technology, which powers a broad range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings, and desserts. The company has approximately 400 employees and operates three state-of-the-art production facilities in the U.S. Midwest.

New Heritage is a Boston-based private equity firm with a more than 20-year history of partnering with growing, middle-market, founder-owned businesses. With its innovative investment structures like the Private IPO®, New Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience in managing growth, New Heritage gives its partners the strategic, operational, and financial guidance to help its companies reach their objectives.

ADM unlocks the power of nature to enrich the quality of life. ADM is a premier global human and animal nutrition company, delivering solutions today with an eye to the future. ADM blazes new trails in health and well-being as its scientists develop groundbreaking products to support healthier living. ADM is a cutting-edge innovator leading the way to a new future of plant-based consumer and industrial solutions to replace petroleum-based products. ADM is an unmatched agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. ADM is also a leader in sustainability, scaling across entire value chains to help decarbonize the industry and safeguard the planet. From the seed of the idea to the outcome of the solution, ADM gives customers an edge in solving the nutritional and sustainability challenges of today and tomorrow.

Houlihan Lokey served as financial advisor to Revela and assisted in structuring and negotiating the transaction on its behalf.