Cassel Salpeter & Co. Secures Senior Debt Financing for Lakewood Organics
Cassel Salpeter & Co., LLC, a middle-market investment banking firm providing merger, acquisition, divestiture and corporate finance services, represented Florida Bottling, Inc. d/b/a Lakewood Organics (“Lakewood”) in securing senior debt financing from Fifth Third Bank. The financing will support numerous growth initiatives.
Lakewood, based in Miami, FL, is an independent family juice company bottling a diverse line of pure organic and premium fruit juice products. The Lakewood story began in 1935 with its founder, Fred Fuhrman, and a small fresh fruit facility in the Allapattah neighborhood of Miami from which Fred would deliver fruits and juices to the hotels on Miami Beach. From that modest beginning, Lakewood has expanded its distribution across the U.S. and dozens of countries. Fred’s son, Thomas, took over from his father in the late 1970’s and pioneered Lakewood’s trademark “Fresh Pressed” line of not-from-concentrate juices. Fred’s grandson, Scott Fuhrman, eventually took the reins from Thomas and currently serves as Chairman and Chief Executive Officer. Scott’s three daughters – Eleanor, Amelia, and Penelope – are the fourth generation of Lakewood ownership. The Fuhrman family takes great pride in being a responsible steward of the Lakewood brand, and holds true to its mission to provide the best quality juices to its customers.
Cassel Salpeter advised Lakewood in evaluating its financing options and provided assistance throughout the due diligence and closing process. Cassel Salpeter Director Philip Cassel led the assignment. Cassel has years of experience helping quality, middle-market businesses raise capital and complete mergers and acquisitions.
Lakewood’s Chairman and Chief Executive Officer Scott Fuhrman said: “I am grateful for the good advice and guidance that Cassel Salpeter provided in connection with the financing transaction. The financing will support numerous growth initiatives to capitalize on the fast-growing organic shelf space.”
About Cassel Salpeter & Co.
Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior professionals have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com.
About Lakewood Organics
Lakewood, based in Miami, FL, is an independent family juice company bottling a diverse line of pure organic and premium fruit juice products. The Lakewood story began in 1935 with its founder, Fred Fuhrman, and a small fresh fruit facility in the Allapattah neighborhood of Miami from which Fred would deliver fruits and juices to the hotels on Miami Beach. From that modest beginning, Lakewood has expanded its distribution across the U.S. and dozens of countries. Fred’s son, Thomas, took over from his father in the late 1970’s and pioneered Lakewood’s trademark “Fresh Pressed” line of not-from-concentrate juices. Fred’s grandson, Scott Fuhrman, eventually took the reins from Thomas and currently serves as Chairman & CEO. Scott’s three daughters – Eleanor, Amelia, and Penelope – are the 4th generation of Lakewood ownership. The Fuhrman family takes great pride in being a responsible steward of the Lakewood brand, and holds true to its mission to provide the best quality juices to its customers.
