Lion Capital, a UK-based mid-market buyout firm, has recruited senior Coca-Cola executive Mary Minnick to join the firm’s London office as a partner.
Minnick, who will join the firm in May, had worked at Coca-Cola for 23 years, most recently as the company’s executive vice president and president of marketing, strategy and innovation.
The hire represents a significant coup for Lion, which specialises in buying branded consumer businesses. Recently chosen by Fortune magazine as one of America’s most powerful women, Minnick is “one of the most accomplished operating executives within the consumer branded goods industry,” according to Lion partner Lyndon Lea.
Minnick is not the first senior Coca-Cola executive to succumb to the charms of private equity this year. The Carlyle Group recently hired Coca-Cola’s chief operating officer Patrick Siewert as a senior director in Asia.
Founded in 2005, Lion Capital has invested more than €2.5 billion in private equity assets. The firm recently sold Jimmy Choo to TowerBrook Capital Partners for £185 million (€280 million, $362 million), generating a return of 2.25 times its initial investment.