Littlejohn & Co. Announces Agreement to Sell Van Houtte to Green Mountain Coffee Roasters, Inc. for CAD$915 Million

GREENWICH, Conn., Sept. 14 /PRNewswire/ -- Littlejohn & Co., LLC, a Greenwich, CT private investment firm, today announced that it has signed a definitive agreement to sell Van Houtte, one of North America's leading gourmet coffee roasters, marketers and distributors, to Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR), for CAD$915 million.  Littlejohn invested in Van Houtte from its $850MM Littlejohn Fund III, L.P. just over three years ago in a 2007 take-private transaction for approximately CAD$600 million.

"Following a successful repositioning of Van Houtte, management executed on a strategy to expand sales of its coffee outside of Quebec, building particular momentum in Western Canada," said David Simon, Managing Director of Littlejohn.  "They also grew the revenue and improved the profitability of their North American coffee service business, while simplifying the company's overall business model," added Mr. Simon. "The Van Houtte sale represents our second realization this year.  The common theme between the two is our hands-on investment approach that focuses on working with strong management teams to help businesses deliver on their underlying potential," said Michael Klein, President of Littlejohn.

Gerard Geoffrion, President and Chief Executive Officer of Van Houtte, said, "The strategic and financial support provided by Littlejohn over the last three years was instrumental in helping transform our 90 year old company.  Together, we have reenergized a leading North American coffee company and our management and employees are very excited about our future prospects under the ownership of Green Mountain."

The transaction is subject to customary closing conditions, including certain regulatory approvals, and is expected to close by the end of calendar year 2010.

About Littlejohn & Co., LLC

Littlejohn & Co. is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach.  The firm is currently investing from Littlejohn Fund IV, L.P., which has $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.

SOURCE Littlejohn & Co., LLC

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