BALTIMORE — An investment firm launched by Ravens owner Steve Bisciotti and his cousin recently agreed to buy a major Chicago food company - and it's one of the biggest such deals to be carried out by a family office, according to a report by Reuters.
The investment firm, called Redwood, is paying $4 billion to take over a food ingredient company called Newly Weds Foods, said Reuters.
Newly Weds Foods is "the premier global purveyor of customized breaders, batters, seasonings, sauces, and functional ingredients," according to its website.
Redwood is a company Bisciotti and cousin Jim Davis created to invest in everything from retirement communities to propane distribution, reported Forbes. Davis and Bisciotti, both billionaires, founded Allegis, the nation's largest staffing company.
