Blackstone Considers Sale of Trilliant Food & Nutrition for $600 Million

Private equity firm Blackstone is reportedly exploring a sale of Trilliant Food & Nutrition, the U.S.-based company known for brands like Victor Allen’s and Aspen Ridge coffee, in a deal that could value the company at around $600 million, including debt, according to sources familiar with the matter.

Blackstone has engaged Bank of America to advise on the potential sale process, indicating progress toward a strategic transaction.

Financial Performance of Trilliant:

Trilliant is reported to generate nearly $60 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA), showcasing its financial strength and stability.

Both Blackstone and Bank of America declined to comment on the matter, while Trilliant did not respond to requests for comment, maintaining discretion during the deal evaluation process.

Market Dynamics and Performance:

Trilliant specializes in manufacturing private-label and branded beverages, including coffee grounds, coffee pods, teas, and fruit drink mixes. The company, founded in 1979 by Victor Allen Mondry, rebranded as Trilliant in 2013.

While Trilliant has faced challenges due to increased raw material costs, it has capitalized on consumer preferences for single-serve and ready-to-drink coffee products and the growing demand for affordable private-label offerings, according to Moody’s Investors Service.

Blackstone Ownership and Investment:

Blackstone obtained majority ownership of Trilliant through a preferred equity investment in 2017, injecting $291 million in payment-in-kind notes. 

This investment structure allows for annual growth in the balance of the note, contributing to Blackstone’s stake in the company.