By Demitri Diakantonis for Mergers & Acquisitions, 12/14/2015
Private equity firm Falconhead Capital LLC has acquired beverage company Multi-Flow Industries LLC for an undisclosed amount.
Multi-Flow, located in Huntingdon Valley, Pennsylvania, produces soda, lemonade, fruit juices and iced tea for bars, restaurants and nursing facilities. In addition, the target is a licensed distributor for the Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (NYSE: PEP) Multi-Flow owns the Harvest Squeeze, Kodiak Cola and Fountainhead brands.
“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,” says Falconhead CEO David Moross.
Falconhead has experience buying food and beverage companies. The firm is currently invested in coffee and tea company Javo Beverage Co. and Italian ice chain Rita’s Water Ice Franchise Co. New York-based Falconhead invests up to $100 million in equity per transaction.
Falconhead is not the only PE firm that has been looking for food and beverage deals lately. Gryphon Investors is buying frozen cake maker the Original Cakerie and Peak Rock Capital bought packaged food distributor Berner Food & Beverage.
Greenberg Traurig and Grant Thornton advised Falconhead.