Krier Foods sells to Celerant Capital

Client need

Krier Foods is a premier manufacturer of a wide variety of ready-to-drink (RTD) beverages packaged in aluminum cans. Founded in 1908, Krier Foods is a fifth-generation family-owned beverage company with a long history of driving canned beverage innovation and providing high-quality contract manufacturing services to its customers. John Rassel, its former owner and CEO, decided it was time for a new partner to step in to further the company’s growth — a partner who was capable of improving efficiencies and job growth, while keeping the business in Random Lake, Wisconsin, where it has been for more than 100 years.

Baker Tilly Capital solution

Baker Tilly Capital ran a full sell-side process and worked with Rassel and his management team to find the right partner to continue the family legacy built at Krier Foods.

Results

Krier Foods found that partner in Celerant Capital, a specialized private equity sponsor that focuses on investing in food and beverage as well as enabling technologies and is led by industry veterans. Celerant Capital will provide new resources and opportunities to the Krier Foods’ employees so they can continue to grow the business under the Krier Foods name.

“We are so pleased to have found a partner in Celerant Capital that will continue to foster our family’s legacy of excellence and service to the people of southeast Wisconsin,” Rassel said. “The potential for growth and development of our family’s company and its people will be greatly supported by the Celerant Capital team and its approach to foster deep and respectful engagement of all company stakeholders in the pursuit of sustainable growth and mutual prosperity.”

To learn more about how Baker Tilly can help your organization with its transaction needs, contact our M&A team.

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