- December 16, 2021
- Posted by: Stratford Team
- Category: Business
LOS ANGELES, CALIF. – Private equity firm Nexus Capital Management LP is acquiring the R.W. Knudsen and TruRoots businesses from the J.M. Smucker Co. as well as entering into a licensing agreement for Santa Cruz Organic beverages. The transaction is valued at approximately $110 million.
The agreement also includes the acquisition of manufacturing plants in Chico, Calif., and Havre de Grace, Md. It does not include the Santa Cruz Organic nut butters, fruit spreads, syrups or applesauce businesses.
The combined assets had sales of approximately $140 million, according to J.M. Smucker, which is based in Orrville, Ohio.
R.W. Knudsen is a manufacturer of fruit and vegetable juices. TruRoots is a processor of grain-, bean- and seed-based products.
“This transaction supports our strategy to direct investments and resources toward core brands positioned for growth,” said Tina Floyd, senior vice president and general manager of consumer foods for J.M….
