Joint Venture of SAPPORO INTERNATIONAL INC., and TOYOTA TSUSHO GROUP
Akron, Ohio – December 29, 2014 – Country Pure Foods, Inc. (“Country Pure”), headquartered in Akron, Ohio, and a portfolio company of Mistral Equity Partners, announces that the owners of its parent company have reached an agreement to sell the parent company of Country Pure to a joint venture of Sapporo International Inc. (“Sapporo International”), a Sapporo Group company and Toyota Tsusho America (“TAI”), a Toyota Tsusho Group Company. The joint venture will acquire the parent company, and thus Country Pure, through Silver Springs Citrus, Inc., its existing U.S. Subsidiary (“Silver Springs”) via merger. Silver Springs is also in the fruit beverage manufacturing sector. The agreement was signed December 23rd, 2014, and it is anticipated that the closing will occur before the end of January 2015. Terms of the merger were not disclosed.
Country Pure is one of the nation’s largest independent juice packaging companies. Country Pure currently offers over 350 unique products, across 24 packaging types and 38 distinct flavors. The Company’s diverse product offering is supported by four flexible and efficient manufacturing facilities, located in Ohio, Florida, Connecticut and Texas. In addition, an agreement has been reached with Raymond Lee to remain with Country Pure Foods as President and CEO.