Capitol Peak Partners Acquires Borden Dairy with KKR as Minority Investor

Peak Rock Capital Affiliate Acquires Turkey Hill Dairy from The Kroger Co.

April 29, 2019

Food & Beverage

An affiliate of Peak Rock Capital completed the acquisition of Turkey Hill Dairy from The Kroger Co. Turkey Hill, headquartered in Conestoga, Pennsylvania, is a manufacturer and distributor of ice cream and refrigerated drinks; Peak Rock said it will operate Turkey Hill as a standalone platform and pursue organic growth and complementary acquisitions.

LongRange Capital Acquires 20.1% Stake in Bakkavor

January 12, 2024

Food & Beverage

On 12 January 2024 LongRange Capital Fund I, L.P. agreed to buy 116,468,928 ordinary shares (20.1% of share capital) in Bakkavor from BP-PE5 L.L.C. (an affiliate of the Baupost Group). The investment (effective on or around 16 January 2024) includes a relationship agreement and the appointment of Robert (Bob) Berlin as LongRange's non-independent non-executive director on Bakkavor's board.

KKR Acquires Majority Stake in Refresco

February 22, 2022

Food & Beverage

KKR has signed a definitive agreement to acquire a majority stake in Refresco Group B.V., the global independent beverage contract manufacturer headquartered in Rotterdam. Existing investors PAI Partners and British Columbia Investment Management Corporation will remain significant minority shareholders; transaction terms were not disclosed. KKR said it will support Refresco's expansion of its global footprint, sustainability initiatives and M&A strategy.

Borgman Capital Acquires Dairyfood USA as Add-on to Gilman Cheese

May 31, 2022

Food & Beverage

Milwaukee private equity firm Borgman Capital completed the add-on acquisition of Dairyfood USA, a specialty extended shelf-life cheese processor headquartered in Blue Mounds, Wisconsin. The acquisition will be integrated with Borgman’s platform company Gilman Cheese Corporation to expand product mix, increase production capacity and realize synergies across retail, foodservice and transportation customers.

Bain Capital Acquires Dessert Holdings from Gryphon Investors

April 26, 2021

Food & Beverage

Bain Capital Private Equity has entered into a definitive agreement to acquire Dessert Holdings, a St. Paul–based premium dessert platform that includes The Original Cakerie, Lawler’s Desserts, and Atlanta Cheesecake Company. The acquisition from Gryphon Investors will support Dessert Holdings’ next stage of growth—pursuing product innovation, organic expansion and add-on opportunities—and is expected to close in Q2 2021 (debt financing led by Antares Capital).

Philip Borden and Pacific Lake Partners Acquire LabShares

September 12, 2023

Healthcare Services

Philip Borden and investor Pacific Lake Partners acquired a majority stake in LabShares, a provider of shared laboratory facilities and services for early-stage biotech companies, with Borden assuming the role of CEO. The investment will support continued growth in Greater Boston, geographic expansion, and the addition of new services for LabShares' life science customers; founder Jeff Behrens remains on the board and as a shareholder.