Coffee Roaster and Distributor Marks Huron’s 60th Investment
Detroit, MI – September 4, 2012 // Huron Capital Partners LLC (“Huron”) announced today that it has recapitalized Ronnoco Holdings, Inc. (“Ronnoco”) in a transaction marking the 60th investment overall for Huron. Founded in 1904 and based in St. Louis, MO, Ronnoco manufactures and distributes premium quality coffee, tea and related products sold to convenience stores, foodservice outlets and offices throughout the central United States. Huron, in partnership with Ronnoco’s management team, made the investment with a plan to continue growing the business through geographic expansion, new product offerings and acquisitions. The Ronnoco transaction builds on Huron’s prior experience and success investing in consumer product and food businesses. This latest investment was made through The Huron Fund III, L.P., a $350 million private equity fund raised in 2008.
Dan Moloney, President of Ronnoco, stated, “The Ronnoco name has been synonymous with premium quality coffee and world-class customer service for its one-hundred plus year history. We are excited about our ability to build on this reputation while continuing to provide our customers with the same great products and service that they have come to expect in Ronnoco’s long history. Huron’s strong track record and experience in similar businesses makes them the perfect partner for us, and we are thrilled to be working together with them.”
“With a solid management team in place, significant excess capacity, and several avenues for continued growth, we believe Ronnoco is a solid platform on which to build,” said Huron Partner John Higgins. “We are excited to be partnering with the Ronnoco team and working with them in growing the business going forward.”