Investment Summary

Exits Keurig

On December 1, 2002, invested in food company Keurig from Convergent Capital

Investment Highlights
  • This is transaction in the Food sector.
  • This is transaction in the United States.
  • This is transaction in Massachusetts.
Investment Fate
  • Keurig was sold to a strategic buyer in 2006.

Investment Summary
Date 2002-12-01
Target Keurig
Sector Food
Sellers(s) Convergent Capital
Deal Type Recapitalization

Target

Keurig

Reading, Massachusetts, United States
website
Keurig, Inc., headquartered in Reading, MA, a manufacturer of single-cup coffee brewing technology in the U.S. for both home and office. Keurig's innovative single-cup brewing system lets coffee lovers brew perfect coffee, one cup at a time, in less than a minute.

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Seller(S) 1

SELLER

Convergent Capital

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1998
PE ASSETS 225M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $2 to $8 million per transaction in businesses with at least $5 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1998 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 1 of 39
Sector (Food) 1 of 1
Type (Recapitalization) 1 of 9
State (Massachusetts) 1 of 1
Country (United States) 1 of 39
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-01 Sabrosura Foods

Bloomington, Minnesota, United States

Sabrosura Foods is a manufacturer of Hispanic foods, including cheeses, desserts, and meats. Sabrosura has several authentic Hispanic brands including El Viajero, La Morenita, Reynaldo’s and Bio Salud! alongside broad private label capabilities. Sabrosura maintains a national footprint with multiple best-in-class facilities that serve a wide range of end markets. Sabrosura Foods was founded in 1985 and is based in Bloomington, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-01 WCB Ice Cream

Northvale, New Jersey, United States

WCB Ice Cream is a designers, assemblers and suppliers of ice cream processing and packaging equipment world-wide.

Buy -
Mergr

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