Under the stewardship of Paine Schwartz, Lyons Magnus saw its annual revenue climb to over $1 billion. The private equity firm utilized its Food Chain Fund IV to support the company’s expansion, which included significant investments in research and development, manufacturing upgrades, and strategic acquisitions. These initiatives were designed to solidify the manufacturer's footprint within the North American coffeehouse and quick-service restaurant sectors.

Kevin Schwartz, CEO of Paine Schwartz, credited the company's growth to a collaborative effort with management to broaden the brand's market reach and commercial capabilities. Jim Davis, who has led Lyons Magnus for over four decades, noted that the transition to Truelink provides the necessary scale to maintain the company’s long-standing reputation for high-quality ingredient and beverage solutions. Financial terms of the deal remain undisclosed, though Evercore and William Blair acted as lead financial advisors for the exiting shareholders.