Private equity firm Peak Rock Capital has taken control of honey producer Natural American Foods, which has emerged from bankruptcy protection.
The company has merged with Groeb Farms, which has also completed a balance sheet reorganisation under Chapter 11 bankruptcy protection.
Natural American Foods CEO Rolf Richter said, “This is a very desirable outcome, and we are extremely pleased with the smooth transition to our new ownership.
“We thank Peak Rock for their dedication to helping us establish a strong, well capitalized foundation that will allow us to focus on what is most important; making the highest quality honey products for our commercial and retail customers.”
Natural American Foods supplies honey and sweeteners to food manufacturers and food service customers as well as retailers.
In September last year Peak Rock closed its inaugural fund on its $700m hard cap, beating its initial $400m target.
Peak Rock Capital Fund invests between $20m and $100m in businesses with revenues of over $50m and enterprise values of $25m to $500m which face strategic, operational or financial challenges.
It targets sectors including consumer, logistics, business services, healthcare, manufacturing, industrials and media.
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