NEWPORT BEACH, CA October 3, 2007 – Private equity firm ClearLight Partners announced today that it has completed an investment in Apple & Eve, a marketer of 100% juice beverages, to support the company’s plans for continued growth and expansion.
Terms of the investment were not disclosed.
Founded more than 30 years ago, Port Washington, NY-based Apple & Eve is the largest privately held producer of 100% fruit juice products in the United States. The company offers more than one hundred different juice products sold under a number of brands including Apple & Eve, Apple & Eve Organics, Sesame Street, Northland, and Seneca. The Company’s products are sold through a variety of channels including grocery, club, mass merchandise, convenience and foodservice.
“We are pleased to have ClearLight as our capital partner and look forward to working with them as we continue to grow our business,” said Gordon Crane, President and CEO of Apple & Eve. “The outlook for our business is excellent. Sales of our existing 100% juice products continue to increase and we are introducing exciting new products such as our Awake energy juice and our Fizz Ed line of sparkling juices.”
Patrick Haiz, a partner at ClearLight, commented: “Apple & Eve has a well-established portfolio of proven brands that meet consumers’ increasing demand for beverages that promote health and wellness. We have searched extensively for investment opportunities with natural food and beverage companies; we are fortunate to be partnering with Gordon and his team. Apple & Eve has long distinguished itself as a best-in-class operator.”
About Apple & Eve
Apple & Eve is the largest privately held juice company in the U.S., with total annual sales topping $200 million. Founded in 1975 and headquartered in Port Washington, NY, the company focuses on healthy and innovative juice products. Apple & Eve produces and markets a complete line of juices, including Apple & Eve 100% pure and natural juices and juice blends, Northland Cranberry Juice Blends, Seneca, Sesame Street 100% Juices, Organics, and a wide variety of convenient single-serve beverages. Apple & Eve products are sold in supermarkets, mass merchandisers, warehouse clubs, health food stores, schools and convenience stores across the country.
Apple & Eve, LLC
PO Box K
Roslyn, NY 11576