Uncle Matt’s Repurchased by Founder

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Uncle Matt’s Repurchased by Founder

Source：foodprocessing

Publish time：2020-05-11

Uncle Matt’s Organic, a juice company purchased in 2017 by Dean Foods, is back in the hands of its founder.

Matt McLean, who started the organic juice and sparkling water company in 1999, is back at the helm after Dean’s bankruptcy forced it to divest. McLean, who had been retained by Dean to keep leading the business after the acquisition, bought back the company for an undisclosed amount, with the help of a team of investors from within and outside the food & beverage industry.

“If you told me three years ago after selling to a publicly-traded, multi-billion dollar CPG leader that Id buy Uncle Matts Organic back out of bankruptcy, I wouldnt have believed you," McLean said in a statement. “When Deans financial distress took a saddening and unfortunate turn, it became a rare opportunity for us to purchase Uncle Matts to expand distribution, innovate into new categories, and educate consumers on the intrinsic health benefits of buying organic.”

Uncle Matt’s investors include Gary Hirshberg, co-founder of Stonyfield Organic; John Foraker, former CEO of Annies and co-founder and CEO of once Upon a Farm; and Andrew Abraham, CEO and founder at Orgain. Funding also was furnished by Renewal Funds, a venture capital firm with a commitment to supporting organic companies. The new board will consist of McLean, his wife Susan, Hirshberg, and representatives of Renewal and of Natural Products Consulting LLC.

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