Venture • Food

Stone Canyon Venture Partners and CIC Partners Invest In Red Mango

On August 12, 2007, private equity firms Stone Canyon Venture Partners and CIC Partners invested in food company Red Mango

Investment Context
  • This is Stone Canyon Venture Partners’ 1st and CIC Partners’ 4th transaction in the Food sector.
  • This is Stone Canyon Venture Partners’ 1st and CIC Partners’ 22nd transaction in the United States.
  • This is Stone Canyon Venture Partners’ 1st and CIC Partners’ 12th transaction in Texas.
Investment Fate
  • Red Mango was sold to a strategic buyer in 2008.

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Investment Summary

Date August 12, 2007
Target Red Mango
Sector Food
Investor(s) Stone Canyon Venture Partners
CIC Partners
Deal Type Venture

Target Company

Red Mango

Dallas, Texas, United States
Red Mango opened its first non-fat frozen yogurt cafe in Los Angeles in July 2007. The concept offers non-fat, healthy, authentic frozen yogurt (rich in probiotics) in Original and Green Tea flavors, served with a variety of toppings including fresh fruit, cereal, and granola. Red Mango currently has 23 upscale retail locations, and 20 under construction in 4 states.
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Investors Overview 2

Investor

Stone Canyon Venture Partners

Los Angeles, California, United States

Category Private Equity Firm
Founded 2001
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stone Canyon Venture Partners, LP is a SBIC that invests in small and medium-sized businesses in the Western US. The Firm has a particular interest in companies operating in California. Typical investments range from $4 to $6 million over the life of an investment. The Firm's primary sector of interest is consumer related such as restaurants, retail, and consumers services. However, Stone Canyon also considers opportunities in media, entertainment, energy, and medical products. Funds are generally used to support growth and expansions, recapitalizations, acquisitions, and working capital. Stone Canyon Venture Partners is based in Los Angeles, California.


Deal Context for Investor #
Overall 1 of 1
Sector: Food 1 of 1
Type: Venture 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2007 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 Blue Lava Group

Santa Monica, California, United States

Blue Lava Group, Inc. is a developer and operator of e-commerce boutiques including Tinyride.com, Tinybed.com, Powervacs.com, and EssentialEspresso.com

Sell -
Investor

CIC Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CIC Partners is a lower middle-market private equity firm that targets investments in energy, food service, manufacturing, service, retail, technology, and media companies. CIC looks for businesses generating sales of $10 to $500 million where the firm can invest $5 to $50 million of equity capital, either as a majority or minority position. Prospective transaction situations include management-led buyouts, growth financings, and recapitalizations. CIC Partners is the successor to Cardinal Investment Company's Private Equity Group, originally formed in 1974. CIC Partners is based in Dallas, Texas.


Deal Context for Investor #
Overall 23 of 45
Sector: Food 4 of 8
Type: Venture 1 of 2
State: Texas 12 of 26
Country: United States 22 of 44
Year: 2007 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-15 River Point Farms

Hermiston, Oregon, United States

River Point Farms is a producer, shipper, and processor of onions; including yellow, white, red, sweet and organic onions. River Point Farms was founded in 2007 and is based in Hermiston, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-06 SignStorey

Fairfield, Connecticut, United States

Founded in 2000 and headquartered in Fairfield, CT, SignStorey is a retail television network solution to be deployed at more than 2,000 supermarkets nationwide. Its retailer partners, including Albertsons, Pathmark and Price Chopper, see value in the company's unique approach to creating an enhanced shopping experience that provides a combination of useful information to the consumer and high-impact advertising messages.

Sell $72M

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