King Juice Company, a maker of branded and private label non-carbonated beverages, has been acquired by Mason Wells. Mason Wells partnered with members of the senior management team to buy the company from the Kezman and Purpero families.
King Juice is a manufacturer and marketer of the Calypso brand of lemonade drinks and a co-manufacturer of non-alcoholic beverages. Calypso is distributed domestically as well as internationally in 20 countries. King Juice, founded in 1983, has a 123,000 sq. ft. production facility and is headquartered in Milwaukee (www.kingjuice.com) (www.drinkcalypso.com).
“We are looking forward to driving growth of the Calypso brand and enhancing its already leading position within the flavored lemonade category,” said Jeff Outlaw, President of Calypso Brands. “Our ability to innovate, manufacture, and distribute our products on a national and international scale provides a strong platform for growth.” Mr. Outlaw will continue to lead the Calypso brand under Mason Wells’ ownership.
“We are extremely impressed with the workforce at King Juice, the industry leading manufacturing capabilities, and the company’s market position in lemonade through the Calypso line of flavored lemonades,” said Ben Holbrook, Managing Director at Mason Wells. These key factors along with the relationships that King Juice has forged with its customers and suppliers have enabled the business to achieve a high level of success over the past 30 years.”
Mason Wells makes investments in Midwest-based companies with revenues of $25 million to $300 million and EBITDAs of $5 million to $30 million. Sectors of interest include consumer packaged goods; packaging materials and converting; outsourced business services; and engineered products and services. In February 2016, Mason Wells held a final closing of Mason Wells Buyout Fund IV and its related Executive Buyout Fund IV with total commitments of $615 million. The firm was founded in 1982 and is based in Milwaukee (www.masonwells.com).
“King Juice possesses a unique combination of sophisticated manufacturing capability, a longstanding brand in the growing lemonade category and a national distribution network. We are proud of the beverage platform we have built at King Juice and we are excited about the opportunity to partner with Mason Wells to continue the growth of the Company,” said CEO Tim Kezman, on behalf of the ownership group which includes the Kezman and Purpero families. Mr. Kezman will remain with the company through a transitional period as a consultant.
© 2017 Private Equity Professional | August 1, 2017
