BOULDER, Colo., Jan. 2 /PRNewswire/ -- Healthy Food Holdings, a portfolio company of private equity firm Catterton Partners, today announced that it has entered into a definitive agreement to acquire CoolBrands Dairy, Inc., a subsidiary of CoolBrands International Inc. (TSX: COB.A).
CoolBrands Dairy manufactures and markets yogurt products under the Breyers and Creme Savers(R) brands. Breyers is a leading brand of "fruit-on-the-bottom" and light yogurt. These strong market positions in one of the fastest growing food categories makes Breyers a unique complement to Healthy Food Holdings' existing yogurt portfolio, which includes the innovative "smooth and crunchy" YoCrunch(R) family of yogurt products. Following the transaction, Healthy Food Holdings will become the third largest branded yogurt company in America.
Chuck Marcy, Chief Executive Officer of Healthy Food Holdings, said, "Breyers' commitment to high-quality has made it a brand leader in major segments of the yogurt category. We are delighted to have the opportunity to build the Breyers brand by adding innovative new products and expanding retail distribution in all major channels. Together with our existing YoCrunch product line, Healthy Food Holdings will be able to offer customers differentiated yogurt products that are fast becoming the go-to favorites for consumers seeking healthier snack alternatives that don't compromise on taste."
Andrew C. Taub, a Partner at Catterton Partners, said, "Catterton has a record of success in building brands and helping them to achieve their full potential. With Catterton's financial and operational strength, we expect to drive renewed growth and market expansion for Breyers yogurt."
As previously announced in December 2006, Healthy Food Holdings acquired Van's International Foods, Inc., the maker and marketer of Van's Waffles, the leading brand of all-natural and organic frozen waffles. This makes Healthy Food Holdings a key player in the natural and organic frozen foods business.
About Healthy Food Holdings, LLC
Healthy Food Holdings, a portfolio company of Greenwich-based private equity firm Catterton Partners, is a management holding company for branded, "better-for-you" foods. Healthy Food Holdings makes strategic investments in high-quality food and beverage companies focused on healthy, natural and organic products. In addition to Breyers(R) yogurt products, Healthy Food Holdings' current product portfolio includes the YoCrunch brand of yogurt products, Van's Waffles, the leading brand of all-natural and organic frozen waffles, and Veat Gourmet, which are soy protein meat-alternative products, such as Chick'n Free Nuggets, Gourmet Bites, Vegetarian Breast and Vegetarian Fillet.
About Catterton Partners
With more than $2 billion under management, Catterton Partners is a leading private equity firm in the U.S. focused exclusively on the consumer industry. Since its founding in 1990, Catterton has leveraged its investment capital, strategic and operating skills, and network of industry contacts to establish one of the strongest investment track records in the consumer industry. Catterton invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, and Media and Marketing Services. Catterton has led investments in companies such as Build-A-Bear Workshop, Cheddar's Restaurant Holdings Inc., P.F. Chang's China Bistro, Baja Fresh Mexican Grill, First Watch Restaurants, Frederic Fekkai, Kettle Foods, Farley's and Sathers Candy Co., and Odwalla, Inc. More information about the firm can be found at http://www.cpequity.com/.
Contacts:
Healthy Food Holdings / Catterton Partners
Eric Brielmann / Andrea Salas
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
