Falconhead Capital has acquired a controlling stake in Huntingdon Valley, Pennsylvania-based Multi-Flow Industries, a fountain beverage producer. No financial terms were disclosed. Grant Thornton provided financial and tax advice to Falconhead on the transaction.
NEW YORK, Dec. 14, 2015 /PRNewswire/ — Falconhead Capital, LLC, a private equity firm focused on growth buyouts in the sports, media, consumer, lifestyle and food and beverage sectors, today announced that it has acquired a controlling stake in Multi-Flow Industries, LLC, the leading independent provider of fountain beverage solutions in the United States. Financial terms of the transaction were not disclosed.
Multi-Flow Industries, based in Huntingdon Valley, PA, produces branded and private label concentrated iced teas, juices, carbonated soft drinks, energy drinks and fortified functional water in bag-in-the-box packages. Multi-Flow distributes fountain beverage syrup concentrates and services fountain beverage dispenser equipment to over 4,000 retail accounts, including independent bars, restaurants, clubs, and hotels, as well as assisted living and nursing facilities. It also manufactures private label fountain beverage concentrates for wholesale foodservice accounts. Multi-Flow services accounts across 15 metropolitan areas.
David S. Moross, Chairman and Chief Executive Officer of Falconhead Capital, said: “We are delighted to acquire Multi-Flow, which is a leader in the fountain beverage sector in its geographic markets. The company has built considerable positive momentum under its management team and is well positioned for growth through strategic acquisitions and a range of attractive internal opportunities. We look forward to partnering with Ken Schnarrs and his team to enhance the value of Multi-Flow for the benefit of all its stakeholders.”
Multi-Flow CEO Ken Schnarrs and his management team will continue to lead the company under Falconhead’s ownership. Mr. Schnarrs added: “We are excited to welcome Falconhead as our new partner. The Falconhead team has a long history of supporting and growing companies within the food and beverage sector and Multi-Flow will benefit from its extensive operational expertise as we work together to accelerate the growth of our business, both organically and through strategic acquisitions.”
Greenberg Traurig, LLP served as Falconhead’s legal advisor and Grant Thornton LLP served as Falconhead’s financial and tax advisor on the transaction.
About Falconhead Capital, LLC
Falconhead Capital, LLC is a private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in the sports, media, consumer, lifestyle and food and beverage sectors. Falconhead’s current portfolio includes Multi-Flow Industries, GPS Industries, Javo Beverage Company, and Rita’s Water Ice Franchise Company. Past Falconhead investments include, among others, Not Your Daughter’s Jeans, Competitor Group, Escort, National Powersport Auctions, Maritime Telecommunications Network, and ESPN Classic Europe. For more information, please visit www.falconheadcapital.com.