Huron Capital Completes Recapitalization of Ronnoco Coffee
DETROIT, Mich., September 4, 2012 – Huron Capital Partners LLC (“Huron”) announced today that it has recapitalized Ronnoco Coffee (“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 investing in consumer product and food businesses.
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.”
“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.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.