Sunny Sky Products Acquiring GoodWest Industries

Deal for maker of low-acid aseptic beverage solutions expected to close by end of 2022
Sunny Sky Products Logo
Image courtesy of Sunny Sky Products

HOUSTON — Dispensed-beverage solutions producer Sunny Sky Products has entered into a definitive agreement to acquire GoodWest Industries from Palladium Equity Partners, New York.

GoodWest Industries makes and supplies low-acid aseptic beverage solutions, mainly shelf-stable and bag-in-box coffee creamers, cold brews and iced coffees, while Sunny Sky markets hot, cold and frozen dispensed, and beverage enhancer products for the convenience store and foodservice channels.

After the acquisition, expected to close before the end of 2022, GoodWest will operate as a wholly owned subsidiary of Sunny Sky, Houston. GoodWest leadership will report to W. Ashley Edens, Sunny Sky president and CEO, and GoodWest will keep its headquarters in Douglassville, Pa. The combined entities will benefit from significant commercial synergies via expanding relationships with new and existing customers and channels, Sunny Sky Products said.

Founded in 1994, GoodWest operates a scalable low-acid aseptic manufacturing platform with capacity to support industry growth, selling in high-growth product categories and channels.

"GoodWest has experienced tremendous growth over the past few years, and its products and customer base are a natural fit for Sunny Sky," Edens said. “We look forward to welcoming GoodWest and its employees to the Sunny Sky family and are confident this partnership will better position us to scale our business and capitalize on our strong momentum. Additionally, we thank Palladium, who has been an excellent partner to GoodWest and has been instrumental in transforming the business into a world-class enterprise.”

Quenten Wentworth, GoodWest president and CEO, said, “Sunny Sky shares our dedication to delivering top-quality products and superior customer service. Alongside our Sunny Sky partners, we are confident we will enter a new phase of growth while continuing to prioritize our valuable customers.”

Kirkland & Ellis LLP acted as legal advisor to Sunny Sky. Greenberg Traurig LLP acted as legal advisor to GoodWest. Lincoln International acted as the financial advisor to GoodWest.

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