SAN BERNARDINO, California, May 17, 2010—Fresh juice maker Evolution Fresh, Inc. today announced a partnership with Boston based investment firm Fireman Capital Partners (FCP) to fund growth of its ultra-premium line of fresh and organic juices, fresh-cut fruits and vegetables, and gourmet soups and salsas.
“I’ve been squeezing juice for over 25 years and am more committed than ever to providing the freshest, best tasting, most nutritious products on the market,” says Evolution founder and chairman, Jimmy Rosenberg, a pioneer of the southern California fresh juice movement and founder of Naked® Juice, now owned by PepsiCo. “My goal is to allow more people to enjoy our amazing tasting products, prepared daily, straight from fresh fruits and vegetables, and this investment will help enable us to reach that goal.”
Evolution products have enjoyed great success and built a loyal following in California, backed by Jimmy’s personal promise of freshness printed on every bottle of juice.
Rosenberg has assembled a strong team of industry veterans, anchored by Shawn Sugarman, the former President of Odwalla®. “We are one of the last independent fresh juice companies. The big soft drink companies entered the fresh juice category through acquisition years ago and quickly expanded the category into the mass market,” explains Sugarman. “As a result, their brand missions and focus have changed, leaving space for brands like Evolution to thrive. We were looking for the right partner to fund our growth and bring valuable expertise to the party. We chose Fireman because they have a seasoned team who instantly grasped the opportunity.”
“The Evolution brand certainly resonated with us in terms of the company’s strong lineage and
unwavering authenticity,” said FCP’s Managing Partner Dan Fireman. “FCP is committed to backing world-class entrepreneurs like Jimmy, with products that are clearly differentiated, and a top-tier management team. We see enormous potential.”
Evolution Fresh has attracted a stable of veterans from the fresh juice world. “Our team knows exactly what it takes, and we’re out to make big things happen. We can be the visionary brand that will drive the category,” says Sugarman.
Evolution Fresh was represented in the transaction by Partnership Capital Growth. The terms of the investment were not disclosed.
About Evolution Fresh
Evolution Fresh produces and distributes full lines of super-premium freshly squeezed juice, truly flash pasteurized and organic refrigerated fruit and vegetable juices, fresh-cut fruits and vegetables, soups, and salsas from its 70,000 square foot facility in San Bernardino, California, serving hundreds of premium natural foods, specialty, grocery, and foodservice accounts throughout the West. For more information, visit www.evolutionfresh.com.
About Fireman Capital Partners
Founded in 2008, FCP was conceptualized and founded by Paul Fireman, Dan Fireman and Andrew Spellman. FCP’s focus has been to build a platform of professionals, relationships, capital, resources and expertise that would help well-established businesses achieve new potential and possibility. For additional information on Fireman Capital Partners please visit www.firemancapital.com
About Partnership Capital Growth
Partnership Capital Growth is a boutique investment bank that provides full-service merger and acquisition, financing and capital structure advisory services to middle market companies. The company focuses exclusively on consumer products and services in the areas of healthy, active and sustainable living. Partnership Capital Growth is based in San Francisco, California. www.pcg-advisors.com
Naked® Juice is a registered trademark of PepsiCo. Odwalla® is a registered trademark of The Coca-Cola