TorQuest Partners has acquired Joriki Inc. Financial terms were not disclosed.
The investment is the ninth platform investment for TorQuest Partners Fund IV, a $925 million 2015-vintage fund.
Founded by Yogi Sennik, Toronto based Joriki provides beverage contract manufacturing services across Canada for major brand and private label customers, primarily within the juice, ready-to-drink tea, sports drink, enhanced water, and dairy alternative categories.
Sennik will continue to run the company.
photo credit: TorQuest, Joriki
TorQuest Partners Announces Investment in Joriki
TORONTO, Oct. 3, 2019 /CNW/ – TorQuest Partners (“TorQuest”) today announced that it has made an investment in Joriki Inc. (“Joriki”), a leading Canadian contract manufacturer of beverages and select food products. This will be the ninth platform investment for TorQuest Partners Fund IV. Terms of the transaction were not disclosed.
Founded by Yogi Sennik, and based in Scarborough, Ontario, Joriki provides beverage contract manufacturing services across Canada for major brand and private label customers, primarily within the juice, ready-to-drink tea, sports drink, enhanced water, and dairy alternative categories. Joriki has an extensive range of manufacturing and packaging capabilities, including hot-fill, cold-fill, and aseptic PET/carton lines across three strategically located facilities. The business has expanded in recent years by investing in additional capabilities to serve customers in new high growth beverage categories.
Daniel Sonshine, a Partner at TorQuest Partners, said, “Joriki has experienced exceptional growth through maintaining its commitment to quality manufacturing. We believe the business is well positioned to capitalize on the attractive industry dynamics in the North American beverage contract manufacturing landscape. We are looking forward to partnering with Yogi and the Joriki team to support the business through its next phase of growth.”
“We are excited to collaborate with TorQuest and to continue investing in Joriki’s capabilities to better serve the North American beverage market” said Yogi Sennik, CEO and Founder of Joriki. “Together, we are stronger positioned to execute our vision for growth and bring best-in-class beverage manufacturing capabilities to brands and retailers across North America.”
About Joriki Inc.
Established in 1990, Joriki is a leading Canadian contract manufacturer of beverages and select food products for several major brands and private label retail customers. Joriki has over 200 employees across three Canadian manufacturing facilities located in Scarborough, Ontario, Pickering, Ontario and, Delta, British Columbia.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$2 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund IV, a $925 million fund that closed in June 2016. TorQuest invests in middle market companies, and works in close partnership with management to build value. To learn more about TorQuest Partners, please visit www.torquest.com.
SOURCE TorQuest Partners