The management team at the company will remain intact and continue to have an ownership position, according to a statement.
THL Credit, the Thomas H Lee Partners affiliate that provides junior capital to middle market companies, confirmed in a statement it will provide mezzanine financing for the transaction. Bank of Montreal will provide senior debt, according to reports.
Country Pure’s largest share of business comes from single serve portion juices sold in hospitals and schools, according to DN Partners’ website.
Andrew Heyer, Mistral managing partner, noted in a statement that projected increases in student meal programs and healthcare spending would help drive the juice company’s future growth.
Heyer in March 2007 led Mistral's spin-out from Trimaran Capital Partners, a mid-market firm he co-founded with fellow ex-Drexel Burnham Lambert executives Jay Bloom and Dean Kehler.