)
Procal Dairies, a company established after Melbourne's Thyssen family sold The Original Juice Co to Golden Circle in 2002, has received a "significant" investment for an undisclosed sum from Sydney-based fund manager Anacacia Capital.
Founded by father-and-son entrepreneurs Nick and Adam Thyssen in 2003, Procal has grown to become a trusted producer of high-quality milk, cream and yoghurt products, with its state-of-the-art processing facility in Melbourne supplying cafés, restaurants, supermarkets and export partners across the region.
Anacacia will invest alongside the Thyssen family and existing management, who remain significant shareholders, with Laney Quinn continuing to lead the business as CEO. Quinn is the sister of co-founder Adam Thyssen, who passed away in 2020.
"We are incredibly proud of what our family and team has built over the past two decades," says Quinn.
"Procal has always been a family business, committed to quality and to serving our customers with passion. Partnering with Anacacia marks an exciting new chapter for us. Their deep experience with family business and a relationship built over 10 years made them a natural fit.
"Together, we’re looking forward to strengthening our operations, expanding our capacity, expanding our family legacy and continuing to deliver on our promises to customers, suppliers and staff."
Anacacia will bring George Weston Foods' longstanding chief executive officer Stuart Grainger onto the board of Procal.
"We have long admired the Procal team for their entrepreneurial drive, differentiated offering and success in building a strong brand," says Anacacia investment director Ranitha Mapatuna.
"We are delighted to partner with them and support their plans to grow Procal’s presence in Australia. It’s a privilege to back a great Australian business with strong values and potential."
Anacacia claims to have committed $800 million in capital with more than 70 investments made since it was founded in 2007, with its current portfolio including Direct Couriers, timber and building products group Big River, on-street parking solutions company Duncan, and furniture and homewares wholesaler Florabelle Living, among others.
The fund previously sold its stake in dips and snacks maker Yumi's Quality Foods to George Weston Foods in 2018, and is also a former investor in baby food group Rafferty's Garden which was sold to PZ Cussons in 2013. Other previous investments include Appen (ASX: APX), Catalyst Education, Force Fire, Muir, Mwave and RISSafety.
)
