Juice and beverage products producer Sun Orchard, a portfolio company of Centre Partners, has acquired certain assets of Blue Lake Citrus Products from the Seminole Tribe of Florida, Inc. and Wm. G. Roe & Sons, Inc.
The assets being acquired include the Blue Lake product portfolio, currently being sold under the Noble juice brand, and certain manufacturing equipment. Blue Lake sells its products to some of the largest supermarkets and grocery stores including Publix Super Markets, Ahold, ACME Markets, Giant Eagle Supermarket and Whole Foods Market. Blue Lake is headquartered in Winter Haven, FL (www.bluelakecitrus.com).
Sun Orchard is a national provider of citrus juices (orange, lemon, lime, grapefruit), fruit ades, bar mixes, specialty smoothie bases, and other mixes to the foodservice industry. The company is headquartered in Miami with production facilities in Arizona and Florida. Centre Partners first invested in Sun Orchard in 2014 (www.SunOrchard.com).
The Seminole Tribe of Florida (STOFI) is a federal corporation that serves the economic development and interests of the Seminole Tribe (www.stofinc.com). Tena Granit, Executive Director of Finance, led the transaction for STOFI.
Wm. G. Roe & Sons harvests, packs, and markets fresh tangerines, oranges, tangelos, pomelos, and blueberries. This transaction with Sun Orchard allows the Roe family to focus on its core business of fresh tangerines and a new generation of proprietary seedless tangerine varieties. Wm. G. Roe & Sons is based in Winter Haven, FL (www.NobleCitrus.com).
“The assets being acquired today present Sun Orchard with an opportunity to notably escalate its growth,” said Jean-Marc Rotsaert, Executive Chairman of Sun Orchard. “In conjunction with our long-term strategy to augment distribution channels, the addition of increased retail presence and our ability to deliver our highest-quality products to more customers are exciting for Sun Orchard. We look forward to continuing our expansion into new markets geographically with a wider range of citrus-based products.”
Ft. Lauderdale-based Cross Keys Capital (www.ckcap.com) represented Blue Lake on this transaction.
© 2016 Private Equity Professional | December 2, 2016
