In its most recent move to build the leader in the premium healthy beverages industry, North Castle Partners last month acquired Orchid Island Juice Co. The terms of the transaction were not disclosed.
Orchid Island, based in Fort Pierce, Fla., sells fresh fruit juices and juice blends to supermarkets, natural food stores and convenience stores in 33 states. North Castle, a Stamford, Conn.-based private equity firm, has made 29 investments in the healthy living and aging sector of the market.
Orchid Island was founded by Marygrace and Robert Sexton 10 years ago. Marygrace Sexton, who served as the company’s chief executive officer prior to the purchase, will act as a consultant to North Castle. Her brother, John Martinelli, who formerly served as the company’s assistant chief executive, will now take on the role of president at Orchid Island.
North Castle set its sights on a coast-to-coast branded premium refrigerated juice company earlier this year. Toward those ends, the firm has acquired M.H. Zeigler & Sons Inc., a maker of refrigerated apple cider, and Saratoga Beverage Group Inc., a leading brand of water, citrus juices and smoothies in June, followed by California Day-Fresh Foods/Naked Juice Inc. and Wiman Beverage Co.
“Orchid Island has shown tremendous growth and will greatly complement our existing brands and further enhance our leading position in the fresh juice category,” said Ellen Marram, general partner at North Castle and chairman of the firm’s beverage businesses, in a statement.
Officials at North Castle were not available for comment at press time.