SAN ANTONIO, Texas— Celerant Capital (“Celerant”), a specialized private equity sponsor that invests exclusively in food, beverage and enabling technologies, announced the acquisition of Krier Foods (“Krier”), a fifth-generation family-owned beverage company.
Founded in 1908, Krier is a premier manufacturer of a wide variety of Ready to Drink (RTD) beverages packaged in aluminum cans. With decades of institutional knowledge and a modern facility, Krier will continue its legacy of quality, service, and enabling its customers’ growth. Krier’s dedicated team and culture of excellence will continue to be the foundation of Krier’s success.
John Kowalchik, formerly CEO of Baxters North America and a veteran co-manufacturing leader, is appointed as Krier’s new CEO. Former CEO, John Rassel, will continue to serve as an advisor to Krier as he pursues charitable and community opportunities in Southeast Wisconsin.
“For decades, Krier Foods has set the standard for quality, reliable canned RTD beverage production in the Midwest, as well as serving as a trusted partner for our contract manufacturing customers,” said incoming CEO John Kowalchik. “The Company’s state-of-the-art production facilities, differentiated capabilities, and its highly dedicated team will continue to enable innovation and growth in the functional beverage category. We are excited about the potential for further investment, job growth, and community involvement through our partnership with Celerant Capital.”
“We are pleased to have found a partner in Celerant that will continue to foster our family’s legacy of excellence and service to the people of Southeast Wisconsin”, said John Rassel. “The potential for growth and development of our family’s company be greatly supported by the Celerant team and its approach of fostering deep and respectful engagement of all stakeholders in pursuit of sustainable growth.”
“We are grateful for the opportunity to partner with John Rassel to support the next phase of Krier’s growth. Our background in food and beverage manufacturing and deep bench of technical and operational advisors will help take Krier to the next level,” stated Celerant Partner Michael Hyche. “The Company’s facilities, history of service, exceptional team, and long-term relationships with great customers make this an exciting platform investment for Celerant.”
Norton Rose Fulbright LLP served as Celerant’s legal counsel for the transaction. Baker Tilly Capital, LLC served as Exclusive Financial Advisor and O’Neil, Cannon, Hollman, DeJong & Laing S.C. was legal counsel to Krier.
For More Information:
https://celerantcapital.com