May 18, 2021 09:09 ET | Source: Granite Creek Capital Partners
CHICAGO and NEW ORLEANS, May 18, 2021 (GLOBE NEWSWIRE) — Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, today announced it has partnered with Clover Capital Partners on an investment in Big Easy Blends, LLC (“Big Easy”). Based in New Orleans, Big Easy is a leading developer and manufacturer of branded, private label, and licensed single-serve pouched beverages, including slushies, snow cones, fruit smoothies, and alcoholic and non-alcoholic frozen novelties.
Granite Creek and Clover’s investment will enable Big Easy to further capitalize on strong demand for its differentiated product offerings and unique manufacturing capabilities by increasing production capacity, expanding sales and marketing efforts, and investing in product development initiatives. Big Easy’s specialized manufacturing capabilities allow it to produce single-serve beverages that are novel in the marketplace. Its products are sold in grocery, convenience, and discount stores around the country. Boxwood Partners acted as the exclusive advisor to Big Easy Blends on the transaction.
Granite Creek’s investment in Big Easy was made from its $200 million fund, Granite Creek FlexCap II, L.P. Granite Creek targets investments in companies engaged in manufacturing, business services, healthcare, and agribusiness. The investment team plays an active role with the leadership of its portfolio companies to support growth, strategy and financial development.
“We are excited to partner with Clover Capital and invest with the founders of Big Easy Blends to support the company’s rapid growth through a major facilities expansion and broadening its senior leadership team,” said Jim Clark, Partner at Granite Creek Capital Partners, L.L.C. “Big Easy’s distinctive manufacturing capabilities, combined with strong customer relationships and robust demand for the company’s offerings, position the company well for continued success.”
“Granite Creek started its active collaboration with our team even before closing. From business development referrals to supporting our facilities expansion plan, they have already established themselves as engaged and helpful partners,” said Sal LaMartina, CEO and Co-Founder. “We work with some of the world’s largest brands and they trust us to scale with their needs and deliver the highest quality products. Our continued investments in industry-leading facilities and in our entrepreneurial team will power this next phase of growth.”
About Big Easy Blends
Big Easy Blends is a New Orleans-based company that manufactures pre-mixed frozen alcoholic and nonalcoholic beverages in flexible, portable pouches. The products are sold in grocery, convenience, and discount stores around the country. The company was founded in 2007 by Sal LaMartina, Craig Cordes and Antonio LaMartina. For more information, visit www.bigeasyblends.com.
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In addition to providing funding to lower middle market companies, in 2011 Granite Creek co-founded Renovo Financial, one of the largest regional private lenders serving real estate entrepreneurs. Granite Creek was recently named to Inc.’s 2020 Private Equity 50 list. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
About Clover Capital Partners
Clover Capital Partners is a private equity firm based in Evanston, IL focused on the food and beverage industry. Clover primarily invests in manufacturing and processing operations and often partners with entrepreneurs as a value-added strategic partner. Clover also invests in emerging food and beverage brands through its affiliate fund Clover Vitality. For more information, please visit www.clovercp.com.
About Boxwood Partners, LLC
Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, VA. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek