Blue Point Capital Partners (Blue Point) has made its seventh Fund IV platform investment, with the acquisition of Country Pure Foods (CPF), a provider of beverages and other natural juice products.
The acquisition of CPF also includes Silver Springs Citrus. Blue Point acquired CPF in partnership with management and CPF’s former CEO, Raymond (Ray) Lee. The Company is an excellent fit with Blue Point’s expertise in the food & beverage space.
For over seventy years, Country Pure, based in Akron, OH, has been a value-added producer, processor, packager and distributor of both branded and private label beverages and juice products to the food service, retail and co-pack end markets. The Company sells its products directly to retailers and through institutional food service distributors into the healthcare and education markets. With five plants across the nation, CPF has a large geographic footprint to service its diverse portfolio of customers.
“We have been tracking CPF for over twenty years given that it is approximately forty-five minutes from our Cleveland office. Our prior successes and current portfolio investments in the food & beverage segment and our longstanding relationship with Ray, who was the former CEO, make it a natural one for us. We are thrilled to partner with Ray and the management team to grow an already clear leader in the better-for-you beverage space,” says John LeMay, a Partner with Blue Point.
Post-closing, Lee will return to serve as CEO of Country Pure. He brings a wealth of executive and industry experience and will provide additional strategic direction and leadership to the existing management team.
“As a market leader, CPF offers its consumers high quality and industry leading products and customer service, which is paramount to succeed in our category. I’m eager to build on the Company’s outstanding reputation while developing new opportunities to increase product consumption. CPF’s recent acquisition of Sidekicks, its 100 per cent fruit and vegetable juice frozen dessert line, and further expansion into plant-based beverages, such as almond milk, strengthens the Company’s position in the rapidly growing better-for-you food & beverage categories,” says Lee. “
We are excited to leverage the knowledge and experience we’ve gained through our successes in the food & beverage industry,” says Jonathan Pressnell, a Principal with Blue Point. “The Company has a strong reputation and excellent capabilities that will support innovation-driven growth in the attractive end markets of healthcare, education and grocery retail. CPF has an unparalleled reputation and fits well with Blue Point’s regional, growth-oriented investment strategy.”
