“Working with Calder Capital proved to be incredibly valuable. Scott brought a level of expertise that made a big difference throughout the entire process. He was responsive, honest, and hard-working. I’m glad that he represented me.”
– Founder, Midwest Juice, Grand Rapids, MI (Seller)
“Scott and the Calder team brought focus to the transaction. Their responsiveness helped us move forward with confidence. It was clear that they were committed to ensuring the long-term success of this partnership.”
– Lucas Iskra, Vice President of Business Development, Leonard’s Syrups, Detroit, MI (Buyer)
Calder Capital is pleased to announce the successful acquisition of Midwest Juice, headquartered in Grand Rapids, MI, by Leonard’s Syrups, based in Detroit, MI.
Founded in 1998, Midwest Juice has grown into a premier Michigan-based distributor of fountain drink systems. The Company provides juice, soda, coffee, and thickened water across the Midwest from its two locations in Grand Rapids and Livonia. Seeking a transition into retirement, the Founder of Midwest Juice engaged Calder Capital’s Sell-Side team
The buyer, Leonard’s Syrups, is a Detroit-based beverage service provider that specializes in artisan soda and shelf stable fruit juices. The acquisition of Midwest Juice aligns with Leonard’s growth strategy and geographic footprint, especially with new healthcare customers across Michigan. Leonard’s, a family-operated business for over 60 years, has the resources in manufacturing, delivery, service, and installation to add value to Midwest Juice’s current and future customers. Leonard’s was represented in the acquisition by Lucas Iskra, Vice President of Business Development.
The Founder of Midwest Juice shared, “After over 25 years of building this business, it was important for me to find a buyer who would value the relationships we’ve built and continue our tradition of service. Leonard’s Syrups undoubtedly will be an excellent steward of Midwest Juice.” They continued, “I’m confident that Leonard’s Syrups will take great care of our employees and customers.”
“Midwest Juice has built a stellar reputation for reliability and service that aligns with our vision and values,” stated Iskra. “We’re thrilled to welcome their team and customers into the Leonard’s Syrups family. We’re looking forward to building on what they have created.”
Leading the transaction on behalf of Calder Capital was Scott Nicholson, Mergers & Acquisitions Advisor.
After launching to market on September 4, the Calder Capital team distributed CIMs to 91 qualified buyers, resulting in 3 competitive offers. An LOI was accepted by February 19, and the transaction successfully closed on April 1, bringing the deal to completion in just under seven months. Calder’s ability to identify and vet quality buyers ensured a strong fit and exceptional value for the seller.
“Working with Calder Capital proved to be incredibly valuable,” shared the Founder of Midwest Juice. “Scott brought a level of expertise that made a big difference throughout the entire process. He was responsive, honest, and hard-working. I’m glad that he represented me.”
Lucas Iskra, Vice President of Business Development at Leonard’s Syrups, stated, “Scott and the Calder team brought focus to the transaction. Their responsiveness helped us move forward with confidence. It was clear that they were committed to ensuring the long-term success of this partnership.”
Nicholson, who facilitated the deal, commented, “I’m proud we were able to deliver multiple offers for Midwest Juice and ultimately connect the Founder with a buyer that understood the business and respected their customers, employees, and the Founder’s investment in Midwest Juice.”
Max Friar, Founder and Managing Partner of Calder Capital, added, “This transaction is a great example of how a well-run, service-driven company can command a premium when operated and presented properly. Kudos to Scott for his expert execution and to the Founder of Midwest Juice for trusting us with their legacy.”
Calder Capital served as the Exclusive Sell-Side Mergers and Acquisitions Advisor to Midwest Juice.
About Midwest Juice
Midwest Juice, founded in 1998, is a Michigan-based provider of fountain drink systems and beverage solutions specializing in juice, coffee, soda, and thickened water. The Company services primarily nursing facilities and restaurants across Grand Rapids, Livonia, and surrounding areas. Known for its unparalleled customer service and 24/7 responsiveness, Midwest Juice continues to offer a wide range of flavors and customized beverage dispensing solutions. To learn more, please visit https://www.midwestjuice.com/.
About Leonard’s Syrups
Leonard’s Syrups, headquartered in Detroit, MI, is a full-service beverage distribution and service company that provides soft drink and juice solutions to businesses across Michigan. With a focus on quality, innovation, and customer service, Leonard’s Syrups partners with restaurants, hospitality venues, and healthcare facilities to meet their beverage needs. To learn more, please visit https://www.leonardssyrups.com/.
About Calder Capital
Founded in 2013, Calder Capital is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations. To learn more, please visit http://caldergr.com.
