Blue Diamond Growers Names Bockmann President, CEO
Kai Bockmann will join Blue Diamond Growers, the agricultural cooperative and global consumer packaged goods leader, as president and CEO on Jan. 17. The board selected Bockmann after working with executive search and leadership advisory firm, Egon Zehnder, to recruit and consider candidates from across the country. Bockmann will succeed Mark Jansen, who announced his plans to step down after a successful 12-year tenure as CEO.
“The search process went well, and we couldn’t be more pleased with the outcome,” said board Chair Dan Cummings. “Kai has more than a quarter of a century of global experience growing CPG companies, and we believe he is the leader we need to keep building our business and brand domestically and internationally, while continuing to deliver superior returns to our grower-owners.”
Bockmann most recently served as president and COO at Saputo Inc. – one of the world’s largest dairy companies – where he led operations that included 67 plants and 18,000 employees across the United States, Canada, Australia, Argentina and the United Kingdom. From 2017 to 2021, he and his team grew revenue from $11 billion to $14 billion. From 2012 to 2021, the international business he led grew from less than $500 million to more than $4 billion. Prior to Saputo Inc., Bockmann was at McCain – the world’s largest producer of frozen potatoes – where he served as president of the international division and accelerated international sales across 60 export markets, doubling revenues over four years.
“I’m excited by this phenomenal opportunity to join one of the most consistent and fastest-growing food and beverage companies in the world,” said Bockmann. “I look forward to learning from growers and team members and keeping our immediate focus on maintaining business continuity and growth momentum.”
“We’re grateful for Mark’s support during the search and his commitment to helping set Kai and the cooperative up for continued success,” said Cummings. “We’re building from 112 years of success, and we know the future is bright for Blue Diamond because no one knows how to get almonds from growers’ farms to families worldwide better than us.”
Cummings said Blue Diamond’s snack almond business has more than a 50 percent market share in the United States and that Blue Diamond’s Almond Breeze is the leading almondmilk brand in the United States, South Korea, Thailand, Brazil and South Africa. In 2021, the company’s net sales totaled $1.6 billion.
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Quinn Snacks Earns Climate Friendly Label for Snacks Line
Sustainable snack brand Quinn has achieved the Climate Friendly product attribute from its partner, HowGood, an independent research company with the world’s largest ingredient sustainability database. Quinn will begin to roll out the first ever on-pack Climate Friendly label on its snack products in 2023.
Products that receive the Climate Friendly attribute have greenhouse gas emissions that are lower than 70 percent of all products assessed by HowGood. The new on-pack label allows consumers to easily identify products that are more sustainable.
As part of Quinn’s ongoing commitment to being a trailblazer in making real change to the food system, the Company always seeks out ingredients that support soil health and reduce carbon emissions, and share all that information with its Ingredient Transparency Policy. Through its partnership with HowGood, Quinn is now able to further measure the impact of its ingredients and products, including its carbon footprint.
HowGood’s assessment for the Climate Friendly attribute takes into account greenhouse gas emissions at the agricultural production and ingredient processing stages of the carbon life cycle and identifies those with significantly lower emissions.
“Transparency is a huge priority for us at Quinn Snacks. When you know where your food comes from and how it’s grown, you make food differently, you make it better. Regenerative agriculture can drastically reduce emissions and make farms more resilient to the effects of climate change. We’re excited to have HowGood’s Climate Friendly label to communicate our commitment to the environment and responsible sourcing” said Kristy Lewis, Quinn founder.
Quinn snack products featuring the Climate Friendly attribute will be reassessed yearly to ensure the Company and its products continue to meet the current industry benchmarks. The new label will begin to appear on packaging in retail stores nationwide in early 2023, and it will be made available immediately on product pages across Quinn’s website.
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Blue Point Capital Acquires Asian Appetizer Maker Water Lilies Food
Blue Point Capital has acquired Water Lilies Food, LLC, a portfolio company of AUA Private Equity Partners, with global investment bank Harris Williams advising Water Lilies on the sale.
Water Lilies is a manufacturer of frozen Asian appetizers that are primarily sold through supermarkets, restaurants and ethnic markets.
“Water Lilies is the go-to Asian appetizer supplier for retailers, brands, and foodservice operators and has achieved impressive growth through its consistent innovation and focus on quality,” said Brant Cash, a managing director at Harris Williams. “The company experienced a tremendous amount of success during its partnership with AUA Private Equity, and we look forward to its next chapter of growth with Blue Point.”
“We continue to see a high degree of interest in value-added manufacturing platforms from both strategic buyers and financial sponsors,” said Brant Wilczek, a director at Harris Williams. “Water Lilies’ unique ability to develop premium, innovative products combined with its scale and manufacturing flexibility provides the company with tremendous runway for future growth in a category experiencing significant momentum driven by consumer demand.”
Based in Bay Shore, N.Y., Water Lilies is a manufacturer and provider of premium, inspired Asian cuisine for major retailers, private label, consumer brands and foodservice operators. Founded in 1995 with a commitment to food safety, quality and innovation, the company has established itself as a preferred partner to its customers across a variety of authentic, inspired products, with a particular focus on frozen appetizers such as egg rolls, spring rolls, potstickers, and dumplings.
AUA Private Equity is a West Palm Beach, Fla.-based, operationally focused, lower-middle market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 million to $75 million in companies that generate in excess of $5 million in EBITDA.
Blue Point is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland; Charlotte, N.C.; Seattle; and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower-middle market businesses to build processes and capabilities to achieve dramatic growth. The firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources, and focused add-on acquisition efforts as well as its unique toolkit, which includes supply chain/Asian capabilities, improved digital marketing or data strategies, and talent acquisition and diversification efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc.
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