Michigan-based Lakeview Capital, through an investment fund managed by it, has acquired The Mochi Ice Cream Co., the makers of My/Mo Mochi Ice Cream from Century Park Capital Partners, as per the latest food acquisition news.
The Los Angeles-based Mochi Ice Cream is said to have created the mochi ice cream, a handheld, portion-controlled snack of ice cream wrapped in sweet, pillowy rice dough.
The company’s ice cream brand My/Mo Mochi Ice Cream is available currently with more than 20,000 retailers across the US.
Jake Freeman – Director of Investments for Lakeview Capital said: “We’re thrilled to be partnering with a focused, seasoned management team to support growth in the snack category, a segment we find very attractive.”
The acquisition by Lakeview Capital will provide significant capital resources and support for Mochi Ice Cream that are needed to expand and establish it as a global branded mochi snack platform.
Craig Berger – President and CEO of Mochi Ice Cream said: “Under Lakeview’s ownership, we are very excited to continue building on the incredible momentum we have generated. Lakeview has a proven track record of success, and through our shared vision and collaboration, we will continue to grow and expand our business.”
LBC Credit Partners, PineBridge Investments and WhiteHorse Capital were engaged in the financing for the transaction. Ropes & Gray served as legal counsel and Plante Moran was the financial and tax advisor to Lakeview Capital.
For Century Park Capital Partners, the financial advisor for the deal was Houlihan Lokey, while Winston & Strawn LLP served as legal advisor.