Mason Wells acquires owner of Calypso drink brand King Juice

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Private equity firm Mason Wells has bought King Juice Company Inc., a manufacturer of non-carbonated beverages using the Calypso drink brand. The firm’s investment will support the target’s long-term growth initiatives for the Calypso brand and co-manufacturing business. Financial terms of the transaction were not disclosed.

King Juice is a Milwaukee, Wisconsin-based maker of the Calypso brand of lemonade drinks. The target also manufactures non-alcoholic beverages. Since inception, the Calypso brand has grown from four lemonade blends into twenty flavors, which include Limeade and Teamonade. Served in “high-quality” glass bottles, the company says its products are made with real fruit, real sugar, and real fruit pieces. The Calypso drink brand is distributed domestically and internationally in approximately 20 countries. King Juice was previously owned by the Kezman and Purpero families.

Mason Wells, launched in 1998, is a Milwaukee-based PE firm that backs companies with annual revenues between $25 million to $300 million. The firm targets the consumer packaged goods, engineered products and services, outsourced business services, and packaging materials sectors. Mason Wells has approximately $1 billion in assets under management across its current portfolio of private equity funds.

Mason Wells has remained active across the middle market in recent years. In February 2016, the firm raised $615 million for its fourth buyout fund. The firm has previously sold Paris Presents Inc., a maker of personal care products; sold packaging film producer Charter Nex Films Inc.; and acquired the medical packaging business of Sealed Air Corp. (NYSE: SEE).

Other middle-market beverage deals include: Cott Corp.’s (NYSE: COT) purchase of S&D Coffee Inc. and coffee machine provider Eden Springs; Luigi Lavazza S.p.A’s buying of Kicking Horse Coffee Ltd.; Monster Beverage Corp.’s acquisition of American Fruits & Flavors for nearly $690 million; Dr Pepper Snapple Group Inc.’s (NYSE: DPS) buying all of Bai Brands LLC; General Atlantic’s minority investment in Joe & the Juice, a chain of urban juice and coffee bars; and Falconhead Capital LLC’s purchase of soda maker Multi-Flow Industries LLC.

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