Apple & Eve, LLC Receives Investment from ClearLight Partners |
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By: Apple & Eve, LLC Posted: 2007-10-08 12:02:25 |
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Natural juice company Apple & Eve, LLC announced today that it has received an equity investment from private equity firm ClearLight Partners, LLC. Apple & Eve, a leader in the 100% juice category, indicates that the investment will support the company's plans for continued growth and expansion. Centerview Partners acted as financial advisor to Apple & Eve, LLC. Terms of the investment were not disclosed.
Founded more than 30 years ago, Port Washington, NY-based Apple & Eve is the largest privately held producer of 100% fruit juice products in the United States. The company offers more than one hundred different juice products sold under a number of brands including Apple & Eve, Apple & Eve Organics, Sesame Street, Northland, and Seneca. The Company's products are sold through a variety of channels including grocery, club, mass merchandise, convenience and foodservice. "We are pleased to have ClearLight as our capital partner and look forward to working with them as we continue to grow our business," said Gordon Crane, President and CEO of Apple & Eve. "The outlook for our business is excellent. Sales of our existing 100% juice products continue to increase and we are introducing exciting new products such as our Awake energy juice and our Fizz Ed line of sparkling juices." Patrick Haiz, a partner at ClearLight, commented: "Apple & Eve has a well- established portfolio of proven brands that meet consumers' increasing demand for beverages that promote health and wellness. We have searched extensively for investment opportunities with natural food and beverage companies; we are fortunate to be partnering with Gordon and his team. Apple & Eve has long distinguished itself as a best-in-class operator." About Apple & Eve Apple & Eve is the largest privately held juice company in the U.S., with total annual sales topping $200 million. Founded in 1975 and headquartered in Port Washington, NY, the company focuses on healthy and innovative juice products. Apple & Eve produces and markets a complete line of juices, including Apple & Eve 100% pure and natural juices and juice blends, Northland Cranberry Juice Blends, Seneca, Sesame Street 100% Juices, Organics, and a wide variety of convenient single-serve beverages. Apple & Eve products are sold in supermarkets, mass merchandisers, warehouse clubs, health food stores, schools and convenience stores across the country. Apple & Eve, LLC PO Box K Roslyn, NY 11576 Phone: 800.969.8018 http://www.appleandeve.com About ClearLight Partners ClearLight Partners is a private equity firm based in Newport Beach, California with $600 million under management. ClearLight invests in market- leading growth companies with $5 million to $25 million of EBITDA. ClearLight typically makes investments of $10-50 million. ClearLight seeks to partner with strong management teams who have a track record of building successful companies within their industry, and have the vision to build a market leader. Principals of ClearLight were previously operating executives of successful growth companies in the business services, consumer, and specialty manufacturing sectors that reached $100-300 million in revenues prior to achieving successful liquidity events. Founded in 2000 with a broad investment charter and a uniquely patient capital base, ClearLight works closely with its portfolio of successful middle-market growth companies and is actively seeking additional investment opportunities across the U.S. in a wide variety of industries, including specialty manufacturing and distribution, business services, education and training, health care services, specialty financial services, and consumer products and services. ClearLight Partners, LLC CONTACT: 100 Bayview Circle, Suite 5000 Patrick J. Haiz 949.725.6612 Newport Beach, CA 92660 Phone: 949.725.6610 http://www.clearlightpartners.com Contact: Lucy Rosen 516-222-0236 x126 SOURCE Apple & Eve, LLC |
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