Peterson Farms Acquires Blue Point’s Country Pure Foods

Blue Point Capital Partners has completed the sale of Country Pure Foods, a manufacturer of juice and beverage products, to Peterson Farms which is co-owned by the Peterson family and Mubadala Capital.

Country Pure Foods was founded in 1995 by First Atlantic Capital and DN Partners through the merger of Natural Country Farms and Ohio Pure Foods, creating a specialized provider of portioned juices for the institutional market. In 1998, the company acquired Ardmore Farms, a Florida-based maker of frozen, portion-controlled juices, from Quaker Oats. In August 2010, Mistral Equity Partners acquired the business and added on with the April 2012 buy of Cal-Tex Citrus, a Texas-based maker of frozen, portion-controlled juice cups for schools and hospitals. The company temporarily exited private equity ownership in 2015 when it was sold to a Florida-based Silver Springs Citrus, a joint venture between Japanese conglomerates Sapporo International and Toyota Tsusho.

Blue Point returned the platform to private equity ownership in December 2019 when it purchased Silver Springs Citrus with equity from its fourth fund. During Blue Point’s six-year hold period, the company did not close any add-on acquisitions yet was able to triple its EBITDA through a combination of organic growth and operational improvements.

During its partnership with Blue Point, the company expanded its production capacity, optimized equipment utilization, and implemented data-driven pricing analytics.

Specifically, to support its growth in the K-12 education sector, the company invested in additional manufacturing capacity for its single-serve juice cups and pouches. Management simultaneously launched a new series of plant-based and aseptic products, secured new private label contracts, overhauled its equipment maintenance schedules to reduce downtime, and utilized cost data to re-price low-margin institutional contracts.

“Partnering with Blue Point has been instrumental to our growth journey as a company,” said Tony Muscato, the chief executive officer at Country Pure Foods. “Over the last six years, we’ve built meaningful value across the business while empowering our team and delivering innovative and high-quality products for our customers.”

Peterson Farms is a processor of fruit products, including apples, blueberries, and cherries. The acquisition of Country Pure Foods is part of Peterson Farms’ strategy to expand its footprint in the value-added fruit and beverage processing sector. The company is headquartered near Grand Rapids in Shelby, Michigan.

Akron-headquartered Country Pure Foods processes, packages, and distributes fruit juices, plant-based beverages, and frozen novelties. Company-owned brands include Silver Springs Citrus, Natural Country Farms, Ohio Pure Foods, Ardmore Farms, and Cal-Tex Citrus Juice. Country Pure utilizes a high-volume production model designed to serve institutional requirements in the healthcare and education sectors. For example, dietary directors at hospitals and long-term care facilities utilize the company’s pre-portioned, sealed four-ounce juice cups to ensure sanitary, consistent caloric delivery for patient meal trays.

The sale of Country Pure occurs within a substantial domestic market for beverages. According to Grand View Research, the U.S. fruit and vegetable juice market was valued at approximately $86 billion in 2024. Growth in the sector is being driven by increasing consumer demand for convenient, nutrient-rich beverages and a shift toward plant-based diets, with institutional food service remaining a critical distribution channel for portion-controlled products. This institutional demand is further bolstered by a surge in private label adoption.

“From the outset, Country Pure Foods had an impressive foundation with a clear growth vision,” said Jonathan Pressnell, a partner at Blue Point. “Our collaboration unlocked meaningful opportunities, and the progress achieved truly reflects the talent and dedication of the entire team.”

Blue Point invests in companies active in the industrial, business services, consumer, and value-added distribution sectors, with revenues between $30 million and $300 million and EBITDA greater than $7 million. Blue Point is currently investing through its 2022 vintage $700 million fifth fund. The firm was founded in 2000 and has offices in Cleveland, Charlotte, Seattle, and Shanghai.

Mubadala Capital is an active investor with a specific interest in the consumer and food services sectors. The firm has more than $20 billion in assets under management including four flagship private equity funds, three early-stage venture funds, two funds in Brazil focused on special opportunities, an evergreen investment strategy focused on private market opportunities, as well as a series of co-investment and special purpose vehicles, and continuation funds. Mubadala Capital is a subsidiary of Abu Dhabi-headquartered Mubadala Investment Company, a $280 billion sovereign investor. The firm has offices in New York, San Francisco, London, Rio de Janeiro, and Abu Dhabi.

William Blair was the financial advisor to Country Pure Foods and BakerHostetler provided legal services.