Gryphon Investors buys Eight O’Clock Coffee for $100m

San Francisco-based middle-market buyout firm, Gryphon Investors, today announced the completion of its acquisition of Eight O’Clock Coffee Company, a retail-focused roaster and packager of coffee.

San Francisco-based middle-market buyout firm, Gryphon Investors, today announced the completion of its acquisition of Eight O’Clock Coffee Company, a retail-focused roaster and packager of coffee.

 

Gryphon Investors did not disclose financial details of the deal, but earlier press reports indicated a $107.5 million (€85 million) transaction value.

 

Eight O’Clock Coffee was originally a division of The Great Atlantic & Pacific Tea Company, itself a division of the beleaguered A&P supermarket chain. The company sells coffee under the Eight O’Clock and Royale brands.

 

The 145-year-old Eight O’Clock Coffee will continue to operate out of its Montvale, New Jersey, headquarters, according to a press release.

 

Gryphon Partners is currently raising a fund, its second discretionary vehicle. The firm launched in 1997 with a pledge fund, meaning investors could participate on a deal-by-deal basis. Gryphon is headed by president and managing general partner David Andrews. Its current limited partners include the public pension funds of Oregon, Washington, Colorado and Pennsylvania. Gryphon Partners has also managed the personal wealth of general partners from buyout firms Kohlberg Kravis Roberts & Company, Texas Pacific Group and Oak Hill Partners.

 

Gryphon Partners seeks to invest between $25 million and $75 million in equity per deal, according to the press release.