Paine Schwartz-backed Lyons Magnus completed the acquisition of Phillips Syrups & Sauces from Kaulig Capital.

Paine Schwartz-backed Lyons Magnus, a firm that produces and markets food products, completed the acquisition of Phillips Syrups & Sauces, a producer of gourmet syrups, from Kaulig Capital, a private investment firm. Financial terms were not disclosed. “This year marked Phillips’ 100th anniversary and Lyons Magnus is the right partner to preserve and build Phillips’ legacy for the next 100 years," Dominic Brault, Kaulig Capital Managing Director.