ClearLight exits juice maker Apple & Eve after seven years


sesamePrivate equity firm ClearLight Partners has exited New York-based juice maker Apple & Eve to food group Lassonde Industries after seven years of ownership.

The company offers more than 100 different juice products sold under its main brand, Apple & Eve, as well as its sub-brands including Organics, Fruitables, Quenchers, Waterfruits and Sesame Street.

It also owns and markets juices under the Northland, Seneca and The Switch brands.

ClearLight said that it is “actively searching” for investments for its third fund, which was closed with commitments of $300m in November 2011.

The fund was solely funded by Japanese security company Secom, which also committed to the firm’s first two funds.

ClearLight invests in North American companies with EBITDA of between $5m and $20m and strong cash-flow margins.

The firm aims to invest between $10m and $50m per company, and is also able to provide mezzanine financing with its investments.

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