Japanese consortium buys US PE-backed juice maker
A consortium of Japanese investors has acquired Country Pure Foods, a US-based food service juice manufacturer, from US private equity firm Mistral Equity Partners.
Financial terms of the deal were not disclosed.
The consortium - which includes brewing giant Sapporo International and Toyota Tsusho (TAI) America, the US trading arm of Toyota Group - made the purchase via Silver Springs Citrus (SCC), a pre-existing Florida-based beverage manufacturing venture. The deal will give Sapporo and TAI 51% and 49% of the company, respectively.
Based in Ohio, Country Pure is one of the largest independent juice-packaging companies in the US, offering over 350 products. The firm company focuses on the food service sector, providing school cafeterias, hospitals, and airlines with chilled and frozen single-serve portions of juice concentrate. It has additional operations in Florida, Connecticut, and Texas. Mistral acquired the business in 2010.
According to a release, Country Pure will now concentrate on the food service market, while SSC will continue its focus on the chilled beverage market. Both companies will also continue to participate in contract-manufacturing, providing packaging services to major national and regional brands.
This transaction come just weeks after another Japanese brewing giant - Asahi Group - provided an exit for Japanese GP Unison Capital by acquiring Tokyo-headquartered wine retailer Enoteca.
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