Landmark Fresno company sold for reported $1 billion. It makes syrups, sauces

Lyons Magnus, a landmark Fresno company, has been sold to Truelink Capital, a Los Angeles-based private equity firm.

Founded in 1852, Lyons is a leading manufacturer of specialty ingredients for syrups, sauces, smoothie bases, and concentrates for clients throughout the food and beverage industry.

““Lyons is a well-established business with a market-leading position in the attractive and growing specialty ingredients category,” said Todd Golditch, co-founder and managing partner at Truelink Capital.

For 46 years, Lyons was owned by the Smittcamp family of Clovis and run by Robert Smittcamp, who died in 2021.

The company was sold in 2017 to Paine Schwartz Partners, one of the largest private equity firms specializing in sustainable food chain investing.

The sale price of Lyons was not disclosed, but sources told the Wall Street Journal the value of the deal was around $1 billion.

“We are thrilled to be partnering with Truelink Capital as we enter this exciting next chapter for Lyons Magnus,” CEO Jim Davis said. “Truelink shares our commitment to innovation, operational excellence and delivering best-in-class products to our customers. With their support and resources, we are well-positioned to capitalize on the significant momentum in our end markets and continue building on the strong foundation we have established over the past century.”