Celerant Capital, a specialised private equity sponsor, announced the acquisition of Krier Foods, a fifth-generation family-owned beverage company.
Founded in 1908, Krier is a premier manufacturer of a wide variety of Ready to Drink (RTD) beverages packaged in aluminum cans. Krier has a long history of driving canned beverage innovation through its Jolly Good brand and providing high quality contract manufacturing services for its customers’ portfolio of established and emerging brands. Krier’s production of carbonated sodas dates to the beginnings of the package format in the 1960s. With decades of institutional knowledge and a modern facility, Krier will continue its legacy of quality, service, and enabling its customers’ growth. Krier’s dedicated team and culture of excellence will continue to be the foundation of the Company’s success.
Krier announced the appointment of John Kowalchik, formerly CEO of Baxters North America and a veteran co-manufacturing leader, as its new CEO. Former CEO, John Rassel, who will continue as an advisor to the Company, will transition out of the day-to-day leadership of the Company to pursue charitable and community opportunities in Southeast Wisconsin. The senior leadership team of Krier will continue to lead it from its headquarters in Random Lake, WI (US).
Celerant Capital is a specialised private equity sponsor led by food manufacturing industry veterans that focuses exclusively on investing in food, beverage and enabling technologies. With highly-experienced senior industry professionals, Celerant focuses on acquiring businesses with competitive advantages and significant opportunities for value creation.