Peak Rock Capital has acquired Berner Food & Beverage, a maker of shelf-stable, dairy-based food products and beverages.
Berner is a private label and contract manufacturer of cheese dips, salsa con queso, alfredo sauce, aerosol cheese products and coffee- and latte-based beverages. Customers include consumer packaged goods companies and private label retailers. The company was founded in 1943 and is led by CEO Steve Kneubuehl. Berner is headquartered northwest of Rockford in Dakota, IL (www.bernerfoods.com).
“Our decision to invest in Berner was predicated on a number of highly attractive characteristics of the business, including its broad product offering, best-in-class manufacturing capabilities and leading blue-chip customer base,” said Robert Pistilli, Principal of Peak Rock Capital.
Peak Rock Capital makes debt and equity investments of $20 million to $150 million in middle market companies with revenues from $50 million to $1 billion and enterprise values from $25 million to $500 million. Sectors of interest include business and commercial services; consumer; distribution and logistics; energy and related services; healthcare; industrials; manufacturing, metals, and media. The firm is based in Austin (www.peakrockcapital.com).
“Our acquisition of Berner highlights Peak Rock’s continued desire to invest in industry leading food businesses where we can leverage the extensive sector experience of our principals and an experienced management team to drive growth and operational improvements,” said Anthony DiSimone, Chief Executive Officer of Peak Rock Capital. “We continue to look for other attractive platform opportunities and add-on acquisitions that can drive meaningful value to our portfolio.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-30-15
