Apple & Eve LLC, together with its private equity investor ClearLight Partners, has agreed that the company will be acquired by Lassonde Industries Inc.
Apple & Eve LLC, based in Port Washington, New York, was founded by the Crane family 40 years ago with a focus on delivering healthy, natural juice products. The company offers more than 100 different juice products sold under its iconic flagship brand name, Apple & Eve, and includes a portfolio of sub brands including Organics, Fruitables, Quenchers, Waterfruits and Sesame Street. Additionally, it owns and markets juices under Northland, Seneca and The Switch brands.
Apple & Eve, a pioneer in the juice industry, has grown over the decades by anticipating consumer trends. Among its many innovations, the company introduced the first unfiltered, natural-sttyle apple juice in grocery stores in 1975; the first line of 100 percent juice cranberry blends in 1978; the first 100 percent juice box in 1982; and, Fruitables, the first fruit and vegetable juice box for kids, in 2009.
Gordon Crane, the Founder, President, and CEO of Apple & Eve, commented, “I am so proud of what we have built at Apple & Eve over the last 40 years, and as CEO I look forward to entering a new exciting chapter in our company’s history. By joining Lassonde Industries, I am confident that our combined entities will deliver strong growth behind the brands we have built. We will remain highly focused on creating innovative, on-trend products under the widely recognized Apple & Eve brand and our other strong brands. I have thoroughly enjoyed working with ClearLight over the past seven years.They proved to be a value-added partner in growing and improving our business.”
Michael Kaye, Founder and Managing Partner of ClearLight Partners, further noted, “Apple & Eve’s strong track record reflects the strength of the company’s brands, commitment to innovation, and quality of management and employees. We wish Gordon Crane and the entire Apple & Eve management and employees much continued success.”
Houlihan Lokey Capital, Inc. acted as financial advisor to Apple & Eve and ClearLight Partners, and Armstrong Teasdale served as company counsel on the transaction. The transaction is subject to regulatory approvals and customary closing conditions.