J.H. Chapman Group, L.L.C. Completes the Sale of Cal Pacific Specialty Foods to Wingate Partners and Lake Pacific Partners in Partnership with Cal Pacific Management
Chicago, IL (April 1, 2008) J.H. Chapman Group, L.L.C. announced today that its client Cal Pacific Specialty Foods has been sold to Wingate Partners and Lake Pacific Partners in partnership with Cal Pacific management.
Cal Pacific Specialty Foods produces high-quality value-added strawberry products for the industrial and foodservice markets. As a strawberry specialist, Cal Pacific provides unrivaled product quality and consistency. The company’s customers include the most demanding foodservice operators and producers of fruit-based processed foods.
“Management is thrilled at the opportunity to move the business into its second stage of development with the support of two wonderful financial partners, Wingate and Lake Pacific,” said Bill LeBlanc, President and Chief Executive Officer of Cal Pacific Specialty Foods. “With their support, we plan continued significant growth in providing the finest quality and most innovative strawberry-based ingredients for our customers. In addition, we look forward to future growth through new products and new industry segments.”
About Cal Pacific Specialty Foods
Cal Pacific’s management and investors, all of whom have extensive experience in, and knowledge of, the strawberry industry, established the company in January 2003. The Company has experienced significant growth from its inception through 2007. The Company processes in a 24,000 square feet facility on 3.2 acres of land in Moss Landing, California. Its founding management team continues its role as investors and management.
About Wingate Partners
Wingate Partners was founded in 1987 to purchase controlling equity investments in manufacturing, distribution and service businesses, typically with revenues between $50 million and $250 million. Their philosophy is to create value by supporting management in their efforts to improve the operations of its portfolio companies. The principals of Wingate have substantial senior level operating experience and extensive careers in acquiring companies. For more information, visit http://www.wingatepartners.com/.
About Lake Pacific Partners
Lake Pacific Partners is a private equity investment firm specializing in the food, consumer products, consumer services and related industries. Lake Pacific manages more than $100 million in equity capital, financing buyouts and management participation recapitalizations. The founders of Lake Pacific are successful entrepreneurs and executives. For more information, visit http://www.lakepacific.com/.
About J. H. Chapman Group, L.L.C.
The J.H. Chapman Group is the food industry’s leading investment banking firm, with offices in Chicago and Paris, offering a full range of financial advisory services to the food and restaurant industries in the United States and internationally. The J.H. Chapman Group initiated this transaction, advised Cal Pacific Specialty Foods and assisted in the negotiations. For more information, visit http://www.jhchapman.com