Perricone Juices Announces Partnership with Trivest
MIAMI, January 31, 2023--(BUSINESS WIRE)--Perricone Juices (the "Company") announces it has partnered with Trivest Partners, LP ("Trivest"), a Miami-based, founder-focused private equity firm with over 40 years of experience creating strategic partnerships and fostering growth.
Headquartered in Newport Beach, CA, Perricone Juices is the leading producer of premium, craft juices in the country, with a focus on the "freshly squeezed" citrus category. Founded in 1994 and with processing facilities in both California and Florida, the Company supplies its products to the foodservice and retail channels across the US under the "Perricone Farms" brand and for leading retailers’ private label brands. In addition, its products are used as high-quality ingredients for CPG brands.
Perricone Juices will continue to be led by its Chief Executive Officer, Bob Rovzar. "We are excited by the Trivest partnership and their experience in the food and beverage industry, and we look forward to accelerating the growth of our business," said Rovzar. "With Trivest’s support, we will continue our track record of organic growth while we significantly invest in our operations and our team to better serve our customers."
The Perricone family, with roots in the citrus industry dating back to the 1930s, will remain involved in the Company as part of the ownership group. "In choosing a partner, we were looking for a firm who would preserve and build upon the strength of the Perricone brand and the legacy our family has built in the industry for over 80 years. Trivest’s decades of working with founders and families made them the perfect partner for us," said Joe Perricone, Founder and Chairman Emeritus of the Company.
"We were extremely impressed by Perricone Juices’ talented and dedicated management team, industry-leading position, track record of growth, and sophisticated dual-coast operations. We are excited about the opportunity to help the Company further its growth by building upon the foundation that the employees and the Perricone family has built," added Jorge Gross, Jr., Managing Partner at Trivest.
B. Riley Securities, Inc. served as financial advisor to the Company in connection with its strategic partnership with Trivest.
About Perricone Juices
Perricone Juices is the leading producer of premium, craft juices in the country. Headquartered in Newport Beach, CA, the Company operates manufacturing facilities in Beaumont, CA and Vero Beach, FL. Perricone Juices was founded in 1994 by Sam Perricone, who was one of the largest citrus growers in the US, along with his oldest son, Joe. Today, under the leadership of CEO Bob Rovzar, the Company continues to create delicious and healthy orange, grapefruit, lemon, lime, and tangerine juices in both conventional and organic varieties as well as essential citrus oils. For more information, visit www.perriconefarms.com
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4.5 billion in assets under management, with a growing team of 70 professionals. For more information, visit www.trivest.com
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