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Palladium sells coffee creamer specialist GoodWest to Jordan Company’s Sunny Sky

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US buyout house Palladium Equity Partners has agreed to sell coffee creamer, cold brew and iced coffee specialist GoodWest Industries.

The Jordan Company is the buyer, with the firm picking up GoodWest through its portfolio company Sunny Sky Products.

Palladium made its original majority investment in GoodWest in 2015. The firm said it planned to keep the company’s Jordan’s Skinny Mixes division, which it bolted on in 2019.

The firm said Skinny Mixes, a provider of zero sugar coffee syrups and flavorings, cocktail mixes and other beverage enhancement products, had recorded significant growth, with a revenue CAGR of more than 50%.

Firm partner Caleb Clark said, “Since acquiring the company, GoodWest has experienced rapid growth across its core products, and entered new markets with innovative, on-trend product development.

“In light of the company’s strong momentum and plans for further expansion, we believe GoodWest is at an attractive inflection point to transition ownership.”

Palladium closed its fifth flagship buyout fund at $1.6bn in 2019, up from the $1.1bn it collected for Fund IV in 2014.

The $3bn-managing firm carried out a major high level reshuffle two years ago by naming six new partners and transitioning out the then president and COO David Perez, senior managing director Luis Zaldivar and managing director Erik Scott.

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