Bahrain’s Investcorp acquires Fortune International for USD 105 million

Bensenville, Illinois, U.S.A.-based Fortune International LLC has been acquired by Investcorp, according to an S&P Global Market Intelligence report.

Fortune International LLC is a premium seafood and gourmet food distributor with regional operations in the U.S. Midwest. It operates Fortune Fish and Gourmet and Fortune Imports.

According to the report, Investcorp acquired Fortune International for USD 105 million (EUR 95.1 million).

With headquarters in Manama, Bahrain, Investcorp has USD 28.2 billion (EUR 25.5 billion) in assets under management, and is a leading investor in the food sector, with supplemental investments in real estate and credit management, according to its LinkedIn page. It’s North American division operates as a mid-market private-equity firm focusing on “investment opportunities in U.S. headquartered mid-sized companies with strong managers, solid cash flow, prominent positioning within their industry, a robust track record, and potential for growth,” its website said.

Churchill Asset Management and SMBC were the joint lead arrangers for the senior secured credit facility for the transaction, according to a press release posted on PE Hub.

“Fortune has established itself as a clear leader in its regional market with the quality of its products and the high touch service which it provides to customers,” Churchill Senior Managing Director and Head of Origination and Capital Markets Randy Schwimmer said. “The company has developed a robust global supply chain to meet steady demand for fresh seafood in the Midwest, and we look forward to supporting Fortune’s continued success by working with Investcorp on this transaction.”

Fortune International President and CEO Sean O’Scannlain was not immediately available for comment to SeafoodSource on Tuesday, 4 February.