M&A Deal Summary

Paine Schwartz Partners and WP Global Partners Acquire Suja Juice

On July 13, 2021, private equity firm Paine Schwartz Partners and asset manager WP Global Partners acquired beverage company Suja Juice from Goldman Sachs Merchant Banking and Coca-Cola

Acquisition Highlights
  • This is Paine Schwartz Partners’ 1st and WP Global Partners’ 1st transaction in the Beverages sector.
  • This is Paine Schwartz Partners’ 24th and WP Global Partners’ 13th transaction in the United States.
  • This is Paine Schwartz Partners’ 5th and WP Global Partners’ 2nd transaction in California.

M&A Deal Summary

Date 2021-07-13
Target Suja Juice
Sector Beverages
Buyer(s) Paine Schwartz Partners
WP Global Partners
Sellers(s) Goldman Sachs Merchant Banking
Coca-Cola
Deal Type Secondary Buyout
Advisor(s) Evercore Group (Financial)
Davis Polk & Wardwell
Giannuzzi Lewendon (Legal)

Target

Suja Juice

Oceanside, California, United States
Suja Juice is an organic, non-GMO, cold-pressed juice brand and among the fastest-growing beverage companies in the U.S. Suja is available for purchase at most major grocery and natural foods stores nationwide and select products can be purchased online at sujaJuice.com. Suja Juice was founded in 2012 and is based in Oceanside, California.

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Buyer(S) 2

Buyer

Paine Schwartz Partners

San Mateo, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

Paine Schwartz Partners is a private equity firm specializing in sustainable food chain investing. The Firm targets control investments in the food and agriculture sectors and will consider opportunities globally. Paine Schwartz Partners was formerly known as Paine & Partners - and before that was part of Fox Paine & Co. Paine Schwartz Partners has offices in San Mateo, California and New York City.


DEAL STATS #
Overall 39 of 46
Sector: Beverages M&A 1 of 1
Type: Secondary Buyout M&A Deals 7 of 8
State: California M&A 5 of 6
Country: United States M&A 24 of 29
Year: 2021 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Verisem

Amsterdam, Netherlands

Verisem is a producer, packer, and distributor of specialty vegetable seeds for the professional, semiprofessional, and hobby garden markets around the world, and a contract supplier to a diverse set of global seed companies. Verisem is based in Amsterdam, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 Registrar

Hampton, Virginia, United States

Registrar is a SaaS-assisted provider of U.S. FDA compliance services to domestic and foreign food, medical devices, drugs, and cosmetic facilities. Registrar has expanded to eighteen international offices and has aided more than 30,000 companies across 160 countries. Registrar was founded in 2003 and is based in Hampton, Virginia.

Buy -
Buyer

WP Global Partners

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WP Global Partners is an asset management firm that looks to offer clients exposure to private equity, venture capital, and private debt investments through research based investment programs. Within private equity, WP looks to invest $5 to $25 million in recurring revenue oriented businesses valued up to $500 million. WP Global Partners was formed in 2005 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 13 of 17
Sector: Beverages M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 3
State: California M&A 2 of 2
Country: United States M&A 13 of 17
Year: 2021 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 REMEDI8

Lenexa, Kansas, United States

REMEDI8 operates two divisions compliance services, which provides essential inspection and repair of fire and smoke doors, dampers, barriers, and complementary services to hospitals and other healthcare facilities and new build services, which provides planning, budgeting, consulting, and installation of thermal and moisture protection with a focus on data centers, education and commercial facilities. REMEDI8 was founded in 2008 and is based in Lenexa, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-25 Ginger

San Francisco, California, United States

Ginger offers one-on-one mental health coaching, therapy, psychiatry, self-guided care, and a robust EAP all on one easy-to-use platform. Ginger is reinventing mental healthcare by coupling data science and virtual delivery to provide immediate, personal support for anyone. Care from our on-demand mental health system is delivered through the ginger app, available on iOS and Android, where members can conveniently connect with Ginger’s team of behavioral health coaches 24/7, 365 days a year. Ginger was founded in 2011 and is based in San Francisco, California.

Sell -

Seller(S) 2

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 104 of 126
Sector: Beverages M&A 1 of 1
Type: Secondary Buyout M&A Deals 30 of 34
State: California M&A 7 of 9
Country: United States M&A 75 of 90
Year: 2021 M&A 11 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Parexel

Durham, North Carolina, United States

Parexel is a global provider of clinical research and consulting services to the pharma and biotech industry. Parexel’s services enable the development of innovative new medicines that improve the health of patients across the world. Parexel was founded in 1983 and is based in Durham, North Carolina.

Buy $8.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-21 Kaltura

New York, New York, United States

Kaltura is an OTT TV (Over the Top TV), OVP (Online Video Platform), EdVP (Education Video Platform), and EVP (Enterprise Video Platform) market. The company offers live, real-time, and on-demand video products for enterprises of all industries, as well as specialized industry solutions, currently for educational institutions and for media and telecom companies. Kaltura was formed in 2006 and is based in New York, New York.

Sell -
SELLER

Coca-Cola

Atlanta, Georgia, United States

Category Company
Founded 1886
Sector Beverages
Employees79,100
Revenue 47.1B USD (2024)
DESCRIPTION
Coca-Cola's corporate headquarters in Atlanta, Georgia.
Coca-Cola's corporate headquarters in Atlanta, Georgia.

Coca-Cola is a global brand and producer of beverages that operates Coca-Cola, Diet Coke, Coca-Cola Light, Coca-Cola Zero, Sprite, Fanta, Minute Maid, Powerade, Aquarius, Dasani, Vitaminwater, Georgia, Simply, Minute Maid Pulpy, Del Valle, Ayataka, Bonaqua/Bonaqa, and Schweppes. Coca-Cola dates back to 1886 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 8 of 11
Sector: Beverages M&A 6 of 9
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 2 of 4
Country: United States M&A 3 of 6
Year: 2021 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-31 Costa Limited

Dunstable, United Kingdom

Costa Limited is a global coffee brand. Costa operations include 4,000 retail outlets, a coffee vending operation, for-home coffee formats and Costa’s roastery. Costa Limited was formed in 1971 and is headquartered in Dunstable, England.

Buy £3.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 The Coca-Cola - Three Production Locations

Atlanta, Georgia, United States

Three Production Locations includes facilities in Truesdale (Missouri), Waco (Texas), and Paw Paw (Michigan), and involves long-term agreements for contract manufacturing activities.

Sell -