Ronnoco Coffee Acquires U.S. Roasterie
Detroit, MI – February 11, 2015 – Huron Capital Partners today announced that its portfolio company Ronnoco Coffee, LLC has acquired the assets of Des Moines, IA-based U.S. Roasterie, Inc., a private label manufacturer of coffee sold into the office, foodservice and convenience store channels of distribution.
“Over the past 20 years, U.S. Roasterie has partnered with hundreds of customers in developing and supporting their private label brands,” said Ronnoco Chief Executive Officer Scott Meader. “The addition of this facility and management team gives Ronnoco another platform through which to pursue alternate channel growth in a large and growing segment of the coffee industry, and will leverage the capabilities, systems, and outstanding customer service of Ronnoco.”
John Higgins, Huron Senior Partner, commented, “We are thrilled to see Ronnoco continue to expand and execute on the buy and build strategy we envisioned, and we’re confident in the management team’s ability to use this as a runway to drive continued growth of the business.”
This is the fifth acquisition Ronnoco has made in the past two years to further its plans for growth both geographically and in market share. Through a buy-and-build approach and organic growth initiatives, Ronnoco’s revenues have increased over 40% since Huron’s initial investment in 2012.
Ronnoco previously acquired International Blends, Henderson Coffee, the coffee and tea business of Love Bottling Company and Biff’s Coffee. These acquisitions have enabled the company to expand its presence throughout Oklahoma, Arkansas, Missouri Iowa and Kansas and into a growing array of venues including convenience stores, restaurants, offices and casinos.
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.