Gehl and CNP creates a leading provider of low-acid aseptic food and beverage products, offering a breadth of packaging formats and geographic reach. Through its newly acquired West Coast operation, CNP offers filling capabilities across eight unique carton sizes, in addition to ingredient development and manufacturing. CNP also adds a high-quality group of long-term customer relationships to the Gehl family and access to several growing end markets.
Pat Mitchell, founder and CEO of CNP, said, “I am excited to see the partnership between CNP, Gehl and Wind Point develop. The combination of both businesses represents a fundamentally sound foundation supported by a diversity of products and customers, as well as an opportunity to realize sustained growth in the coming years.”
“We very much appreciated the opportunity to work with Pat Mitchell and the California Natural Products team on this successful transaction,” noted Bryan Jaffe, Managing Director at Cascadia Capital. “Our deep experience in facility-based food and beverage transactions enabled us to recognize the strategic value of the asset prior to our engagement. Our process generated considerable interest from both strategic and financial buyers, and today Gehl Foods validated our thesis through the acquisition.”
“There continues to be a scarcity of mid-sized food and beverage contract manufacturers available for acquisition,” added Erik Einwalter, Senior Vice President at Cascadia Capital. “Those that manage complexity effectively and operate in high-growth categories, as California Natural Products does, are in demand from the investor and acquirer communities.”
The acquisition represents another successful transaction for Cascadia’s Consumer & Retail team. This is the fourth family-owned food and beverage business Cascadia has shepherded through a transaction and the sixth facility-based food and beverage deal Cascadia has closed in the last 12 months.
For more information about this transaction, please contact the Cascadia Capital deal team:
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