North Castle Partners Completes Sale of Naked Juice Company
North Castle announced a definitive agreement to sell Avalon Natural Products, Inc., a leader in the natural products category in the areas of skin care, hair care, bath and body and sun care, to The Hain Celestial Group, Inc. for $120 million.
08/01/07 North Castle Partners, L.L.C., a leading private equity firm focused exclusively on consumer businesses that benefit from "Healthy Living and Aging" trends, said that it has closed its previously announced sale of portfolio company Naked Juice Company, a leader in the fast growing super premium juice category, to PepsiCo.
The Naked Juice transaction was one of four announced investment exits for North Castle Partners in 2006. During the year, North Castle also completed the sale of CRC Health Group, the nation's largest provider of drug and alcohol treatment services, to Bain Capital in a transaction valued at $720 million. In addition, North Castle closed on the sale of Equinox Fitness, a leading operator of upscale fitness clubs, to The Related Companies for $505 million. On December 18, 2006, North Castle announced a definitive agreement to sell Avalon Natural Products, Inc., a leader in the natural products category in the areas of skin care, hair care, bath and body and sun care, to The Hain Celestial Group, Inc. for $120 million.
Charles F. Baird Jr., Managing Director of North Castle Partners, said, "As we commence a new year, we are pleased to achieve a series of important milestones, including the completion of the sale of Naked Juice to PepsiCo and the agreement to sell Avalon Natural Products to Hain Celestial, culminating successful partnerships with the management teams to build both companies and position them for the next phase of their growth."
