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Closing Acquisition of Country Pure Foods

AKRON, OHIO (March 4, 2015) - Sapporo International and Toyota Tsusho America Inc. (TAI) have finalized the acquisition of 100 percent of the stock of Country Pure Foods (CPF), a major US foodservice juice manufacturer based in Akron, Ohio.
 
The acquisition, from Mistral Equity Partners, was made through Silver Springs Citrus Inc. (SSC), the Florida-based fruit beverage manufacturing joint venture between Sapporo International and TAI. The agreement to purchase was first announced in December. As with SSC, Sapporo International will own 51 percent of Country Pure Foods and TAI will own 49 percent.
 
Kenny Sadai, a Saporro executive with broad international experience, has been designated Chairman and Co-CEO of Country Pure Foods. He will share the CEO responsibilities with Raymond Lee, the long-time leader of Country Pure Foods. “I am very pleased to begin working shoulder to shoulder with Ray Lee,” said Mr. Sadai. “Together, we hope to continue to advance the CPF business which he and his team have managed so capably over the years.”
 
As a result of the acquisition, the two companies owned by the partnership will seek to further enhance their important positions in the juice and beverage industry. Country Pure Foods will maintain its focus on the food service market, while SSC will continue its focus on the chilled beverage market. Both companies will also continue to actively participate in the contract-manufacturing field, providing high-quality packaging services to major national and regional brands.
 
“Both Sapporo and TAI are focused on North America as an important region for new business development over the long term,” Mr. Sadai added, “and so I also look forward to working closely with SSC President John Rees and TAI Food Division chief Larry Keiser to maximize the potential of all our North American operations.”