Honey distributor sold to private equity buyer

GREELEY — Rice’s Honey LLC was sold to Falfurrias Capital Partners in Charlotte, North Carolina, on undisclosed terms.

L.R. Rice founded the local company in 1924, a press release said. Family members owned the firm until 2017 when Tony Landretti was named CEO and it was sold to Mission Consumer Capital in Fort Worth, Texas; Centerfield Capital Partners in Indianapolis, Indiana; and Plexus Capital, also in Charlotte.

The three investors generally buy firms with earnings before interest, taxes, depreciation and amortization of $2 million to $15 million, free cash flow of about $20 million and sales to $100 million, their websites and…