Integris Partners recently advised Noosa Yoghurt, LLC, in its sale to Advent International. Founded in 2009, Noosa has staked claim to prominent shelf position within the booming yogurt landscape with its “Aussie-style” product – a unique blend of sweet and tangy flavors that combines the smoothness of classic yoghurt with the thick, rich presentation of Greek style. Noosa’s all natural product line features 13 flavors, including traditional varieties like blueberry, raspberry and plain, as well as more exotic offerings such as strawberry rhubarb and pumpkin. Noosa is distributed in most major groceries across the country.
In addition to its long history of retail and consumer products investing, Advent is bringing two of its industry advisors to Noosa's Board of Directors. Bill Johnson, former CEO of Heinz, will serve as Chairman, and Brad Alford, former CEO of Nestle USA, will also join the board.
Wade Groetsch, President of Noosa, said, “Integris Partners served as an invaluable part of the transaction process. Given the tremendous growth Noosa has enjoyed since its introduction and the truly unique culture and brand we have created, it was imperative for our team to find a partner that shared our vision. In Advent International, Integris delivered a partner that will offer tremendous expertise while allowing our company to maintain its passion and personality.”
Koel Thomae, Co-Founder and Executive VP of Sales, added, “As a veteran of the natural foods world, I had high expectations for how Noosa would be received in the market. Integris was able to organize the consumer-focused private equity universe and properly manage the inbound interest we had received. As a result, our shareholders were able to participate in a transaction that exceeded our expectations as well as to roll some of our proceeds alongside a world-class financial partner.”
Jeff Case, Managing Director at Advent, said, “We are delighted to partner with the Noosa team. Integris’ professionalism and hands-on client service approach facilitated an effective competitive process that allowed our team to craft and validate our investment case while simultaneously building a real rapport with the management team.”
Advent International is one of the largest and most experienced global private equity investors. The firm has invested $25 billion in more than 290 companies in 39 countries, and today has $34 billion in assets under management. Its North American retail and consumer portfolio includes lululemon athletica, The Coffee Bean & Tea Leaf, Serta Simmons, and Party City.