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January 31, 2018

GF Assets acquires packaging firm California Natural Products

A consortium comprising Wind Point Partners and portfolio company GF Assets has acquired US-based packaging firm California Natural Products (CNP).

A consortium comprising Wind Point Partners and portfolio company GF Assets has acquired US-based packaging firm California Natural Products (CNP).

GF Assets is the parent company of Gehl Foods, which produces dairy-based, shelf-stable beverages, cheese sauces and other products.

CNP is a Tetra Pak food and beverage packager, with a focus on aseptic packaging of dairy-based and dairy alternative beverages, soups, broths, teas, nutritional drinks, wine and spirits.

“CNP represents an ideal fit with Gehl and an excellent next step toward building out our platform in the growing segments of shelf-stable food and beverage.”

The acquisition is expected to enable Gehl to become a provider of low-acid aseptic food and beverage products, offering a wide range of packaging formats and geographic reach.

Wind Point Partners managing director David Stott said: “CNP represents an ideal fit with Gehl and an excellent next step toward building out our platform in the growing segments of shelf-stable food and beverage.

“Our customers are looking for exceptional service across a breadth of packaging formats, coupled with product formulation and supply chain expertise. Together, these businesses are poised to deliver on that proposition.”

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Gehl has a manufacturing facility in Germantown, Wisconsin, and its aseptic packaging capabilities include bag-in-box, pouch, #10 can, HDPE and PET single-serve bottles.

The company will have access to CNP’s West Coast operation, leveraging filling capabilities across eight carton sizes, as well as ingredient development and manufacturing.

CNP owner and CEO Pat Mitchell said: “The combination of both businesses represents a fundamentally sound foundation supported by a diversity of products and customers, as well as an opportunity to realise sustained growth in the coming years.”

The acquisition will also add customer relationships to the Gehl family and provide access to several growing end markets.

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