Wednesday, May 22 2013 9:20 PM EDT2013-05-23 01:20:39 GMT
(WMC-TV) - The Memphis Police Department issued a city watch for a 12-year-old boy Wednesday night. Robert McBride II was last seen leaving his residence on foot on Jamaica Avenue. He has a mohawk, andMore >>
The Memphis Police Department issued a city watch for a 12-year-old boy Wednesday night.More >>
Wednesday, May 22 2013 8:10 PM EDT2013-05-23 00:10:21 GMT
(WMC-TV)- Emergency crews have identified most of the 24 people who died, including 10 children, in the tornado Monday. An emergency management official said that six adults are still missing Wednesday. AboutMore >>
In Oklahoma, officials are now estimating the damage done by Monday's tornado to be around $2 billion.More >>
Wednesday, May 22 2013 8:05 PM EDT2013-05-23 00:05:52 GMT
(WMC-TV) - The U.S Attorney's office of the Eastern District of Arkansas sentenced a former West Memphis councilman and a West Memphis police officer for a conspiracy to commit election fraud. Former WestMore >>
The U.S Attorney's office of the Eastern District of Arkansas sentenced a former West Memphis councilman and a West Memphis police officer for a conspiracy to commit election fraud.More >>
Wednesday, May 22 2013 7:27 PM EDT2013-05-22 23:27:59 GMT
(WMC-TV) - Memphis' Sarah Simmons advanced to the top eight of "The Voice" Tuesday, but other Memphian Kris Thomas is on his way home after being eliminated. Making it to the top 10 was Kris' goal. OneMore >>
Memphis' Sarah Simmons advanced to the top eight of "The Voice" Tuesday, but other Memphian Kris Thomas is on his way home after being eliminated.More >>
Wednesday, May 22 2013 7:02 PM EDT2013-05-22 23:02:30 GMT
(WMC-TV) - As the clean up efforts continue in Oklahoma, many of you are looking for ways to help the victims. With their hands full, people from all over Mississippi showed up at the Landers Center inMore >>
As the clean up efforts continue in Oklahoma, many of you are looking for ways to help the victims.More >>
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SOURCE Paine & Partners, LLC
NEW YORK, March 20, 2013 /PRNewswire/ -- Paine & Partners, LLC ("Paine & Partners"), a global private equity investment firm focused on investing in food and agribusiness, today announced that it has made an investment in SGF Produce Holdings, LLC ("Sunrise" or the "Company"), the parent entity of Sunrise Growers~Frozsun Foods, which was an affiliated portfolio company of Sun Capital Partners, Inc. ("Sun Capital"). Following the closing, Sunrise will no longer be an affiliated portfolio company of Sun Capital.
Financial terms of the transaction were not disclosed.
Sunrise is a leading value-added frozen fruit processor and marketer. The Company, headquartered in Placentia, California, was founded in 1977 and operates high quality processing facilities in Oxnard and Santa Maria, California, which are strategically located in the leading strawberry producing regions of the United States. Sunrise's products include frozen strawberries, blueberries, blackberries, raspberries, cherries, peaches and fruit blends in multiple product specifications and packaging configurations. The Company is a leader in the growing markets for retail frozen fruit and foodservice frozen strawberries, and it also markets fresh strawberries to leading retailers throughout the U.S. Sunrise's consumer products are sold primarily under customers' private label brands and also under the Sunrise Growers brand name.
Edward Haft will continue to lead Sunrise as President and Chief Executive Officer, along with the rest of Sunrise's senior management team.
Kevin Schwartz, a founding Partner at Paine & Partners, said, "We are excited about our investment in Sunrise, a leader in the retail and foodservice frozen fruit markets that is well positioned to capitalize on the growing demand for healthy food options and quality frozen fruit products. We have been impressed by the Company's capabilities and the strong strategic relationships it has with its grower and customer partners. Together with the Sunrise management team, we have identified opportunities to enhance the Company's product offerings, including expansion into new fruit categories and markets. We look forward to continuing to work with Ed Haft and the rest of the Sunrise management team to execute on these exciting growth opportunities."
Edward Haft, President and CEO of Sunrise, said, "With Paine & Partners, we will continue to build on our diverse portfolio of quality products, state-of-the-art processing facilities and industry leading food safety practices. Our strong relationships with our leading retail and foodservice customers and grower partners are due to our product capabilities and quality, supply certainty and flexibility, and we will look to continue to expand those capabilities in the future. We look forward to working with the Paine & Partners team, whose experience investing across the food and agribusiness value chain and resources will help us achieve our long-term potential as we continue to develop and expand our business."
About SGF Produce Holdings, LLC Sunrise Growers~Frozsun Foods is the leading strawberry processor in the U.S. and one of the top marketers of frozen fruit and fresh strawberries. Recognized for their award-winning private label retail and foodservice programs, the Company is vertically integrated allowing control of product throughout the supply chain. From specialty toppings to beverage bases and smoothies and a full line of innovative frozen fruit products, Sunrise Growers~Frozsun Foods services a wide range of retail, industrial and foodservice customers.
About Paine & Partners, LLC Paine & Partners provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. Paine & Partners engages exclusively in friendly transactions developed in cooperation with a company's management, board of directors and shareholders. The firm currently makes investments through its $1.2 billion fund, Paine & Partners Capital Fund III, L. P. and related entities.
Paine & Partners focuses on the food and agribusiness industry globally, and its principals, through a predecessor fund, have made successful strategic investments in Seminis, then the world's leading global developer, producer and marketer of vegetable and fruit seeds; and Advanta Netherlands Holdings BV, at the time, the largest independent agronomic seed company in the world. Paine & Partners also invested in Icicle Seafoods, a leading producer, harvester and processer of salmon, pollock, halibut, cod, crab and other seafood products with operations in North and South America and sales globally. Paine & Partners' most recent investments include Eurodrip, a global manufacturer and supplier of drip irrigation solutions; Verdesian Life Sciences, a U.S.-based plant health and nutrition investment platform; Scanbio Marine Group, a leading Norwegian producer of fish protein concentrate, fish meal, and fish oil; and Costa Group, Australia's largest integrated grower, packer and marketer of fresh fruits and vegetables. The complex investment opportunities in today's rapidly evolving agribusiness environment play to the strengths of Paine & Partners' differentiated approach. For further information, see www.painepartners.com.
Wednesday, May 22 2013 10:32 AM EDT2013-05-22 14:32:03 GMT
(WMC-TV) - It is a tiny pest with a big bite that can do major damage. One Germantown family said it only took one infected tick to change their entire lifestyle – something they have been dealing withMore >>
It is a tiny pest with a big bite that can do major damage.More >>
Wednesday, May 22 2013 4:46 PM EDT2013-05-22 20:46:13 GMT
(WMC-TV) - The man accused of killing a police officer walked out of jail a free man Wednesday afternoon. Action News 5's Nick Kenney was there as Timothy McKinney was released. McKinney was accused ofMore >>
The man who pleaded guilty to killing a police officer walked out of jail a free man Wednesday afternoon.More >>
Wednesday, May 22 2013 2:33 PM EDT2013-05-22 18:33:03 GMT
(WMC-TV) - The City of Memphis is saying "goodbye and good riddance" to blight. A derelict apartment complex, formerly called Park Place Apartments, sat vacant for four years breeding crime. It is nowMore >>
A derelict apartment complex, formerly called Park Place Apartments, sat vacant for four years breeding crime. It is now being demolished.More >>
Wednesday, May 22 2013 5:48 PM EDT2013-05-22 21:48:12 GMT
(WMC-TV) - More jobs are coming to Memphis and city leaders are rolling out the red carpet to celebrate. Kruger Products is a leading nationwide towel and tissue manufacturer. The company announced theyMore >>
A Canadian company announced that are adding hundreds of jobs to its North Memphis office. Kruger Products rolled out the red carpet Wednesday afternoon to celebrate the expansion.More >>
Wednesday, May 22 2013 12:48 PM EDT2013-05-22 16:48:44 GMT
(WMC-TV) - A Mid-South mom is convinced that one of her children was murdered. Frances Chambers has spent the past four years and a lot of money investigating the death of her son Demond. Police in herMore >>
A Mid-South mom is convinced that one of her children was murdered, despite the medical examiner's report. More >>
Wednesday, May 22 2013 6:10 PM EDT2013-05-22 22:10:09 GMT
(WMC-TV) - Wednesday is the very last day of school for students and also the last day of the Memphis City Schools system. Action News 5's Justin Hanson is speaking to longtime MCS teachers and volunteersMore >>
Wednesday is the very last day of school for students and also the last day of the Memphis City Schools system.More >>
Wednesday, May 22 2013 6:22 PM EDT2013-05-22 22:22:48 GMT
(WMC-TV) - The Memphis Police Department fired two of its officers Wednesday. Marc Henderson, 32, and Parker Culver, 29, were terminated for personal conduct and violate regulation. In February, thereMore >>
Marc Henderson, 32, and Parker Culver, 29, were terminated for personal conduct and aid to violate regulation.More >>
Wednesday, May 22 2013 6:21 PM EDT2013-05-22 22:21:12 GMT
(RNN) - British officials are saying one man is dead and two others were injured in a possible terrorist attack in London on Wednesday.According to BBC News, eyewitnesses said man was attacked in a streetMore >>
One man is dead after two men attacked him in broad daylight with knives and meat cleavers. More >>
Wednesday, May 22 2013 12:49 AM EDT2013-05-22 04:49:28 GMT
(WMC-TV) - A flood frustrated resident in a Southaven neighborhood called her backyard an ocean after severe weather Tuesday. Inside Louise Rinhart's home is not much better. "Carpet and I got hardwoodMore >>
A flood frustrated resident in a Southaven neighborhood called her backyard an ocean after severe weather Tuesday.More >>
Wednesday, May 22 2013 9:13 AM EDT2013-05-22 13:13:44 GMT
(WMC-TV) - Firefighters escorted several families from their flooded homes in Horn Lake after a rain-swollen creek rose beyond its banks Tuesday. The firefighters offered piggyback rides to children toMore >>
Firefighters escorted several families from their flooded homes in Horn Lake after a rain-swollen creek rose beyond its banks Tuesday.More >>