Goldner Hawn Exits Vitality Foodservice
The Florida-based beverages provider will be acquired by Nestlé’s out-of-home food and beverage division.
November 20, 2009
Minneapolis, Minnesota-based private equity firm Goldner Hawn will exit Vitality Foodservice Inc., following its five-year ownership of the beverage systems portfolio company. Terms of the transaction were not disclosed.
Vitality, a provider of dispensed juices and beverages to the foodservice industry, will be acquired by Nestlé Professional, the out-of-home food and beverage division of the Vevey, Switzerland-based food products giant Nestlé S.A. The division, which includes Nescafé, Coffee-mate, Nesquik and Nestea brands, employs about 900 employees in North America.
Goldner Hawn purchased Vitality in September 2004, using capital from is previous fund, Marathon Fund Limited Partnership IV. The Tampa, Florida-based target company’s revenues exceed $220 million. Joseph M. Heinen, a principal at the private equity firm and board member of Vitality, led the transaction for Goldner Hawn.
The firm closed its fifth fund, Marathon Fund V, in 2004 with $255 million in committed capital.
Nestlé’s executive vice president of human resources Francisco Castañer said he would retire in December. He will remain on the food company’s executive board. Meanwhile, the Swiss company named Jean-Marc Duvoisin as deputy executive vice president of human resources.
As of midday Friday, Nestlé S.A. stock traded at 47.95 CHF per share. Calls placed to Nestlé, Goldner Hawn, Vitality were not returned by press time.
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