HOUSTON, Nov. 9, 2022 /PRNewswire/ — Sunny Sky Products, LLC (“Sunny Sky” or the “Company”), a leading producer of dispensed beverage solutions offering hot, cold, frozen, and beverage enhancer products for the convenience store and foodservice channels, today announced the closing of its acquisition of GoodWest Industries (“GoodWest”), a leading manufacturer and supplier of low-acid aseptic beverage solutions, primarily selling shelf-stable and bag-in-box coffee creamers, cold brew coffees, and iced coffees, from Palladium Equity Partners, LLC (along with its affiliates “Palladium”). The terms of the acquisition were not disclosed.
“We are thrilled to officially welcome our new GoodWest colleagues to the Sunny Sky family,” said W. Ashley Edens, President & CEO of Sunny Sky Products. “Together, Sunny Sky and GoodWest will strengthen our position as a leader in the premium dispensed beverage category and provide expanded product offerings to our valuable customers while continuing to deliver top-quality products and superior customer service.”
Kirkland & Ellis LLP acted as legal advisor to Sunny Sky. Greenberg Traurig LLP acted as legal advisor to GoodWest. Lincoln International acted as the financial advisor to GoodWest.
About Sunny Sky Products
Sunny Sky, a portfolio company of TJC, is a leading producer of dispensed beverage solutions, offering hot, cold, frozen, and beverage enhancer products for the convenience store and foodservice industry. The Company’s products include specialty cappuccinos, frappes, hot chocolates, fountain drinks, aguas frescas, teas, frozen slushies, smoothies, coffee syrups, sauces and toppers. The Company employs approximately 225 team members across two best-in-class manufacturing facilities at their headquarters in Houston, TX as well as Tinley Park, IL. For additional information about Sunny Sky, visit www.SunnySkyProducts.com.
About GoodWest Industries
GoodWest Industries, LLC, headquartered in Douglassville, PA, is a leading manufacturer and supplier of low-acid aseptic beverage solutions, primarily selling shelf-stable and bag-in-box coffee creamers, cold brew coffees, and iced coffees. GoodWest has more than 25,000 dispensers in operation across the US and over 20 countries. The Company serves the away-from-home market with a primary focus on convenience stores, coffeeshops, and foodservice. GoodWest’s capabilities and expertise in aseptically processed dairy, non-dairy, coffee beverages, and specialty flavors allow it to provide customized products to its customers. For additional information about GoodWest, please visit www.goodwest.com
TJC, founded in 1982, is a middle-market private equity firm that has raised funds with original capital commitments in excess of $19 billion with a 40-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Diversified Industrials; Technology, Telecom & Power; Logistics & Supply Chain and Consumer & Healthcare. The senior investment team has been investing together for over 20 years, and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Miami, Chicago and Stamford. For more information, visit: www.tjclp.com.
Sunny Sky Products
VP, Corporate Development