CLEVELAND — Blue Point Capital Partners has made its seventh Fund IV platform investment with the acquisition of Country Pure Foods, Inc. (C.P.F.). Financial terms of the transaction were not disclosed.
Based in Akron, Ohio, C.P.F. is a value-added producer, processor, packager and distributor of both branded and private label beverages and juice products. C.P.F. sells its products directly to retailers and through institutional food service distributors into the health care and education markets.
The company operates five facilities across the United States.
“We are excited to leverage the knowledge and experience we’ve gained through our successes in the food and beverage industry,” said 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 health care, education and grocery retail. C.P.F. has an unparalleled reputation and fits well with Blue Point’s regional, growth-oriented investment strategy.”
Blue Point Capital’s acquisition of C.P.F. was done in partnership with Raymond K. Lee. Mr. Lee was chief executive officer of C.P.F. for more than 20 years before retiring at the end of 2017. Post-closing, Mr. Lee will return as c.e.o. of C.P.F.
“As a market leader, C.P.F. offers its consumers high-quality and industry-leading products and customer service, which is paramount to succeed in our category,” Mr. Lee said. “I’m eager to build on the company’s outstanding reputation while developing new opportunities to increase product consumption. C.P.F.’s recent acquisition of Sidekicks, its 100% 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 and beverage categories.”