Lakeview Farms Expands Into Yogurt Category with Acquisition of noosa yoghurt
CINCINNATI, Nov. 12, 2024 /PRNewswire/ -- Lakeview Farms, a portfolio company of CapVest Partners LLP ("CapVest"), today announced it has entered into a definitive agreement to acquire the noosa yoghurt brand from Campbell Soup Company.
noosa is a leading manufacturer and marketer of premium whole-milk, Australian-style yogurt products, known for its rich, creamy texture and unique flavors. The transaction includes all noosa yoghurt trademarks and its manufacturing facility in Bellvue, Colorado. Approximately 240 current noosa team members will transition to Lakeview Farms with the business.
Lakeview Farms, headquartered in Ohio, owns a growing portfolio of leading brands in the fresh foods space. This acquisition adds significant size and scale to Lakeview's refrigerated portfolio and expands its presence into the $8 billion yogurt categoryi. This strategic acquisition of noosa yoghurt unlocks new opportunities and capabilities for Lakeview's future growth in the U.S. market.
"We are excited to welcome the noosa yoghurt brand and team to the Lakeview Farms family," said Tom Davis, Lakeview Farms CEO. "noosa fits perfectly into our portfolio of premium refrigerated food brands and offers Lakeview a unique opportunity to step into the high-growth yogurt category. Noosa also brings us a team with deep talent and expertise and a state-of-the-art manufacturing facility. We look forward to noosa joining us as we continue building our business through commitment to innovation, quality products, and world-class manufacturing and distribution."
The transaction is anticipated to close in the first quarter of 2025, subject to customary closing conditions. Citi, Truist and TD Securities are joint lead arrangers in the financing. Citi acted as lead financial advisor to Lakeview Farms on the transaction. Truist and TD Securities also advised the Company.
About Lakeview Farms
Lakeview Farms, LLC, is a leading producer of refrigerated desserts, dips, salsa, hummus and specialty products under several brands including Fresh Cravings, La Mexicana, Señor Rico and Salads of the Sea. The Fresh Cravings brand is a fast-growing national brand with a wide variety of products in the refrigerated salsa, hummus, and creamy dips categories, while La Mexicana, Senor Rico and Salads of the Sea are No. 1 brands in their respective categories. Lakeview Farms products are sold in all major retailers including Walmart, Kroger, Albertson's, Publix and more. For more information, visit www.lakeviewfarms.com.
Media contact:
Suzi Prokell
817-771-1423
[email protected]
SOURCE Lakeview Farms
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