CHICAGO, IL – January 2, 2020; City Capital Advisors (“CCA”), a leading results-driven boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to AMFOTEK® in connection with the sale of the company to Sunny Sky® Products.
“AMFOTEK’s product line and customer base is a perfect complement to Sunny Sky’s. We already have a large customer base in powdered dispensed beverages, and this acquisition will solidify our leadership position in this space,” said W. Ashley Edens, President & CEO of Sunny Sky Products. “AMFOTEK’s manufacturing facility outside of Chicago will also give us added manufacturing flexibility and allow us to reduce transportation time to many of our customers.”
“I’m elated by the union of our companies,” said Ellen Jordan Reidy, President & Founder of AMFOTEK. “The combination of these great, customer-centric teams with such synergistic values makes me jubilant for what the future holds for Sunny Sky Products.”
AMFOTEK is a leading developer and manufacturer of high-quality dispensed beverages – with specialization in powder-based products, including hot chocolates, cappuccinos, smoothies, teas, and lemonades. AMFOTEK serves a customer base across the foodservice and convenience store channels.
Located in Tinley Park, IL, all of AMFOTEK’s manufacturing and day-to-day business operations operate out of a 101,000 square foot, state-of-the-art facility. As part of the acquisition, Sunny Sky Products will acquire AMFOTEK’s manufacturing facility and equipment and will continue operations in Tinley Park.
About Sunny Sky Products
Sunny Sky Products, based in Houston, Texas, is a leading manufacturer of premium dispensed beverages. Sunny Sky Products’ portfolio includes an extensive line of frozen carbonated and uncarbonated beverages marketed under several different brands (including Jolly Rancher Slush, Welch’s Frozen, and The Original Slushie Company®), hot chocolate and cappuccinos, cold dispensed beverages (including El Nino Aguas Frescas® and Pure Craft Beverages™), and an extensive line of beverage enhancers that includes coffee syrups, toppings, and fountain flavor shots. Sunny Sky Products serves customers across the US, Latin America, and Asia and has offices in Houston, TX; Singapore; Johor, Malaysia; Buffalo, NY; and now, Tinley Park, IL. The Tinley Park location of AMFOTEK will serve as the company’s Midwest regional office and manufacturing facility.
Trademarks and trade dress are used under license from The Hershey Company.
“Welch’s” and the “Family Farmer Owned” banner are registered trademarks of Welch Foods, Inc., used under license.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives.