Ronnoco Coffee, a portfolio company of Huron Capital Partners, has bought the assets of Roasterie Inc, a Des Moines, Iowa-based private label maker of coffee. No financial terms were disclosed.
DETROIT, Feb. 11, 2015 /PRNewswire/ — Huron Capital Partners today announced that its portfolio company Ronnoco Coffee, LLC has acquired the assets of Des Moines, IA-based U.S. Roasterie, Inc., a private label manufacturer of coffee sold into the office, foodservice and convenience store channels of distribution.
“Over the past 20 years, U.S. Roasterie has partnered with hundreds of customers in developing and supporting their private label brands,” said Ronnoco Chief Executive Officer Scott Meader. “The addition of this facility and management team gives Ronnoco another platform through which to pursue alternate channel growth in a large and growing segment of the coffee industry, and will leverage the capabilities, systems, and outstanding customer service of Ronnoco.”
John Higgins, Huron Senior Partner, commented, “We are thrilled to see Ronnoco continue to expand and execute on the buy and build strategy we envisioned, and we’re confident in the management team’s ability to use this as a runway to drive continued growth of the business.”
This is the fifth acquisition Ronnoco has made in the past two years to further its plans for growth both geographically and in market share. Through a buy-and-build approach and organic growth initiatives, Ronnoco’s revenues have increased over 40% since Huron’s initial investment in 2012.
Ronnoco previously acquired International Blends, Henderson Coffee, the coffee and tea business of Love Bottling Company and Biff’s Coffee. These acquisitions have enabled the company to expand its presence throughout Oklahoma, Arkansas, Missouri Iowa and Kansas and into a growing array of venues including convenience stores, restaurants, offices and casinos.
About Huron Capital Partners, LLC
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized ExecFactorSM buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through four committed private equity funds, invested in over 85 companies, and its portfolio companies have employed over 7,500 people throughout North America. The Huron ExecFactorSM buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron’s sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit www.huroncapital.com.