Lyons saw renewed emphasis in its wine and spirits portfolio in 1933 with the repreal of Prohibition. Lyons Magnus image
The sale of Lyons Magnus to Truelink Capital caps nearly a decade of private equity ownership and closes a chapter that began when a Fresno-area farming family bought the company in 1971. Its roots run deeper still — to a Gold Rush-era merchandising business founded in 1852. Here’s how the 174-year-old company arrived at a reported $1 billion deal.
1852 — Ernest G. Lyons and his father establish a merchandising operation during the California Gold Rush, founding E.G. Lyons & Co., a San Francisco-based business, according to the company.
1929 — E.G. Lyons & Raas Co. merges with Magnus Fruit Products, another producer of glace fruits, syrups and root beer. The combined company is named Lyons Magnus Inc.
1971 — Fresno-area farmers Earl and Bob Smittcamp, operators of Wawona Ranch and Wawona Frozen Foods, acquire Lyons Magnus from Consolidated Foods and begin moving the company toward value-added manufacturing.
1989 — Lyons Magnus builds a new manufacturing facility and corporate headquarters in Fresno.
2014 — Earl Smittcamp, patriarch of the Smittcamp farming and food family, dies. Son Bob Smittcamp serves as chairman and CEO of Lyons Magnus.
May 2017 — Paine Schwartz Partners makes an equity investment in Wawona Packing Co., the Smittcamp peach farming and packing operation, as part of its $893 million “Food Chain Fund IV.” (Venture capital firm invests big in Wawona Packing)
November 2017 — Paine Schwartz takes a stake in Lyons Magnus, buying the company from the Smittcamp family. (Equity firm doubles down on Smittcamps with Lyons deal)
April 2018 — Bob Smittcamp steps down as Lyons Magnus CEO after more than 40 years, staying on as chairman. Former Campbell Soup executive Ed Carolan is named CEO. (Robert Smittcamp to step down as Lyons Magnus CEO)
2019 — Lyons Magnus acquires Wisconsin-based TRU Aseptics, entering the aseptic-products market. (Fresno’s Lyons Magnus completes out-of-state acquisition)
2019 — Paine Schwartz merges Wawona Packing and Gerawan Farming to form Prima Wawona, the nation’s largest stone fruit producer.
2020 — Grower Dan Gerawan is ousted as Prima Wawona CEO.
October 2023 — Prima Wawona files for Chapter 11 bankruptcy protection. Dan Gerawan sues Paine Schwartz, alleging it deliberately sank his former company. (Prima Wawona files for bankruptcy protection)
January 2024 — Bankrupt Prima Wawona warns more than 5,400 jobs are on the line. (Bankrupt Prima Wawona warns 5,400 jobs on the line)
2024 — Schreiber Foods buys the TRU Aseptics business from Lyons Magnus for $20.4 million, according to public records reported by the Beloit Daily News.
October 2024 — Lyons Magnus acquires Hormel Health Labs from Hormel Foods Corp., establishing Lyons Health Labs in Fresno. Jim Davis is CEO. (Lyons Magnus in Fresno acquires division of Hormel Foods Corp.)
April 2025 — G2 Commercial Complex, a local business, acquires the former Prima Wawona cold storage facility in Reedley. (New beginnings for Reedley plant: Local business takes over Prima Wawona site)
July 20, 2026 — Truelink Capital completes its acquisition of Lyons Magnus from Paine Schwartz. The Wall Street Journal reports the deal is valued at roughly $1 billion including debt.