AUA Private Equity buys Noga Dairies as add-on for Raymundos

AUA Private Equity Partners LLC announced that it has acquired Noga Dairies Inc, a manufacturer of yogurts and other other dairy products, as an add-on acquisition to Raymundos Food Group LLC, a refrigerated foods platform. Terms of the transaction were not disclosed.

PRESS RELEASE

AUA PRIVATE EQUITY-BACKED RAYMUNDOS FOOD GROUP, LLC ANNOUNCES ACQUISITION OF NOGA DAIRIES, INC.

New York, NY – March 30, 2016 – AUA Private Equity Partners, LLC (“AUA Equity”) announced today the acquisition of Noga Dairies, Inc. (“Noga” or the “Company”), a manufacturer of yogurts, drinkable yogurts and other dairy products, as an add-on acquisition to Raymundos Food Group, LLC (“Raymundos”), a refrigerated foods platform that offers a portfolio of gelatins, flans, puddings and other ready-to-eat products with a strong connectivity to the growing Hispanic demographic in the United States. Terms of the transaction were not disclosed.

Noga, located in Farmingdale, NY, is a high growth dairy products manufacturer and marketer founded in 1992 by Zalman Leinson and Eli Paz. Noga develops, manufactures and sells drinkable yogurts, dahi (Indian style yogurt), Greek and Suisse style yogurts, refrigerated dips and other specialty and ethnic dairy products. Sales are derived from the Company’s brands (Noga Delite and BioChoice) and through partnerships with third-party brands and retailers. The Company’s products are all-natural with no preservatives, many providing live and active probiotic cultures, which are coveted by a growing number of consumers who recognize the importance of digestive health.

The acquisition of Noga will help accelerate Raymundos’ expansion into adjacent refrigerated categories, diversify its product offering, and strengthens Raymundos’ commitment to meeting consumer needs and tastes. The acquisition was completed in partnership with one of the company’s founders, Zami Leinson, who will continue as Noga’s President and help lead its strategic growth and product development.

“Noga is well positioned to continue its impressive growth as a provider of top-quality custom dairy products to distributors, retailers and foodservice,” said Ric Alvarez, CEO of Raymundos. “The acquisition of Noga will allow Raymundos to continue to diversify its refrigerated products offering by providing healthy and all natural options to our customers while allowing Raymundos to continue to focus on ethnic specialty items,” added Steven Flyer, Partner at AUA Equity.

The AUA Equity deal team was led by Partner Steven Flyer, Principal Kyce Chihi, Senior Associate Ari David, and Associate Te’Rhon O’Neal. McDermott Will & Emery LLP provided legal counsel to AUA Equity, and Wintrust Financial Corporation provided financing to Raymundos.
About Noga Dairies
Established in 1992, and located in Farmingdale, New York, Noga is a marketer and manufacturer of branded and co-manufactured drinkable yogurts, dahi (Indian style yogurt), Greek and Suisse-style yogurts, refrigerated dips and other specialty and ethnic dairy products. The company is certified organic, its products contain all-natural ingredients, and many of its products contain probiotic cultures. For more information on Noga, please visit www.nogadairy.com.

About Raymundos
Raymundos Food Group, LLC is an Illinois-based manufacturer and marketer of predominantly branded refrigerated snacks and desserts. The Company’s portfolio of gelatins, flans, puddings and other ready-to-eat products has strong connectivity to the growing Hispanic demographic in the United States, and provides a unique value-proposition to food retailers. Raymundos products are distributed through mass retailers, conventional grocery retailers, as well as through independent and local Hispanic retailers. For more information on Raymundos, please visit www.raymundos.com.

About AUA Equity
AUA Private Equity Partners, LLC is a New York-based, operationally focused, lower middle-market private equity firm providing strategic capital to companies in the consumer, media, and business services sectors, with a particular focus on family-owned businesses and companies benefiting from the growth of the U.S. Hispanic population. AUA Equity makes equity investments of $15 to $50 million in companies that generate in excess of $3 million in EBITDA. AUA Equity currently manages over $250 million of capital. For more information on AUA Private Equity, please visit www.auaequity.com.
AUA Private Equity Partners | 212-231-8600 | www.auaequity.com