Huron Capital Partners announced that its portfolio company Ronnoco Coffee, LLC has acquired the assets of Des Moines, IA-based U.S. Roasterie, Inc., the private label manufacturer of coffee sold into the office, foodservice and convenience store channels of distribution.
“At 65, this was part of my exit strategy,” U.S. Roasterie President and CEO Howard Fischer told VendingMarketWatch. “I will continue in my current role for at least two years.” Fischer confirmed that nothing will change for current customers. “People at U.S. Roasterie will continue in their current roles,” he said. “All blends, packaging and outstanding customer service remain the same. We will also have additional allied products available to sell in the near future.”
"Over the past 20 years, U.S. Roasterie has partnered with hundreds of customers in developing and supporting their private label brands," said Ronnoco Chief Executive Officer Scott Meader in a prepared statement. He went on say, “The addition of this facility and management team gives Ronnoco another platform through which to pursue alternate channel growth in a large and growing segment of the coffee industry, and will leverage the capabilities, systems, and outstanding customer service of Ronnoco."
“Ronnoco has and continues to be a great company with a management team I trust,” said Fischer. “We look forward to our future.”
This is the fifth acquisition Ronnoco has made in the past two years to further its plans for growth both geographically and in market share. Through a buy-and-build approach and organic growth initiatives, Ronnoco's revenues have increased over 40 percent since Huron's initial investment in 2012.
Ronnoco previously acquired International Blends, Henderson Coffee, the coffee and tea business of Love Bottling Company and Biff's Coffee. These acquisitions have enabled the company to expand its presence throughout Oklahoma, Arkansas, Missouri, Iowa and Kansas and into a growing array of venues including convenience stores, restaurants, offices and casinos.
