Mistral Equity acquires Country Pure

THL Credit provided an undisclosed amount of mezzanine debt for the secondary buyout of the US juice maker.

Mistral Equity Partners has acquired Country Pure Foods, a US-based juice maker, from private equity firms First Atlantic Capital and DN Partners.

The management team at the company will remain intact and continue to have an ownership position, according to a statement. 


No financial details were disclosed, though Mistral typically invests between $25 million and $50 million per transaction, according to its website.

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. 


The deal isn’t Mistral’s first in the juice industry. In June 2009, it purchased $19.55 million of convertible preferred stock in Jamba Juice, a fresh smoothie chain.

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.