BOULDER, Colo. – Grey Mountain Partners (“Grey Mountain”) has acquired Kronos Foods, Inc. (“Kronos” or the “Company”). Kronos is a leading Mediterranean food manufacturer and distributor, primarily serving the foodservice market.
Howard Eirinberg, CEO of Kronos, said, “We are delighted to partner with Grey Mountain in the next stage of our growth. Grey Mountain shares our excitement for the Mediterranean food space. We look forward to their support as we execute on an array of growth opportunities that are driven by innovative, market-leading new products such as KronoBroil™ premium gyros slices.”
Beth Lesniak, Affiliate Manager at Grey Mountain, said, “Kronos has differentiated itself as a leading Mediterranean food manufacturer in the U.S. with a focus on quality and innovation. We believe that Grey Mountain’s growth capital and operational support will allow the Company to better serve both new and existing customers.”
About Kronos Foods, Inc.
Kronos, based in Glendale Heights, IL, is a market leader in the Mediterranean foodservice market selling gyro meat, pita, flatbread, filo products, hummus and sauces in the U.S. and Canada. Since 1975, the Company has led the industry in innovation starting with the successful development and marketing of the first pre-formed gyro cones. With a philosophy anchored in unparalleled quality and consistency, Kronos successfully expanded beyond gyro cones into a diversified Mediterranean food manufacturer.
For more information about Kronos or KronoBroil™, please visit www.kronosfoodsinc.com.
About Grey Mountain Partners
Grey Mountain Partners is a Boulder, Colorado-based private equity firm that focuses on partnering with management to create lasting value through operational improvements and strategic growth initiatives. Grey Mountain invests at the small end of the middle-market in companies across a wide range of industries, manages approximately $700 million of assets, and is currently investing from its third fund, which was raised in 2013.
For more information about Grey Mountain Partners, please visit www.greymountain.com.
Source: Grey Mountain Partners
