Huron Capital Coffee Platform Acquires International Blends
DETROIT, April 10, 2013 /PRNewswire/ -- Huron Capital Partners LLC (" Huron") announced today that its portfolio company, Ronnoco Coffee, LLC ("Ronnoco"), has acquired International Blends. International Blends is a distributor of coffee and other related products to convenience stores, restaurants, and offices. The transaction brings Ronnoco and International Blends together and expands Ronnoco's service area in its core markets.
Scott Meader, CEO of Ronnoco, noted, "We are very excited to partner with International Blends and have the opportunity to serve their customer base. International Blends is a well-known name in its geography and we believe it fits well into the strategic acquisition plan that we are currently pursuing in partnership with Huron Capital."
Huron originally invested in Ronnoco in July 2012, and was attracted to the company's outstanding reputation in the industry, high quality product offering, and differentiated service model. "When we partnered with Ronnoco, our plan was to continue growing the business through geographic expansion, new product offerings and strategic acquisitions. The International Blends acquisition is a great first step and we look forward to pursuing additional acquisition opportunities with the Ronnoco management team," said Huron Senior Partner John Higgins.
About Huron Capital Partners LLCHuron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through customized buy-and-build investments. Huron seeks opportunities where it can help companies reach their full potential by combining its operational approach, capital, and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through a series of committed equity funds and its portfolio companies have employed over 7,500 people throughout North America. With offices in Detroit and Toronto, Huron sponsors family succession transactions, market-entry strategies, corporate carve-outs, management buyouts, and recapitalizations of companies having revenues up to $200 million. Huron has broad investment discretion and has invested in a variety of geographies and industry sectors. For more information, please visit www.huroncapital.com. SOURCE Huron Capital Partners LLC
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