Lakeview Capital completes acquisition of Mochi Ice Cream in US

Lakeview Capital has completed its acquisition of the Mochi Ice Cream Company, the US-based producer of My/Mo Mochi Ice Cream.

An investment fund managed by Lakeview Capital acquired the firm from Century Park Capital Partners, a Los Angeles-based private equity group.

The companies have not divulged any financial details of the acquisition.

The Mochi Ice Cream co-president and CEO Craig Berger said: “Under Lakeview’s ownership, we are very excited to continue building on the incredible momentum we have generated.

“Lakeview has a proven track record of success, and through our shared vision and collaboration, we will continue to grow and expand our business.”

Berger also said that the management team will continue its association with the company. They will remain in their current roles under the new ownership.

Headquartered in Los Angeles, California, the Mochi Ice Cream Company created the mochi ice cream concept and distributes its products in North America.

My/Mo Mochi Ice Cream is currently available at more than 20,000 retailers throughout the US.

Lakeview Capital Investments director Jake Freeman said: “We’re thrilled to be partnering with a focused, seasoned management team to support growth in the snack category, a segment we find very attractive.

“We are closely aligned with the team on our plans to deploy significant capital to continue to build a leading, global branded mochi snack platform.”

The deal will enable The Mochi Ice Cream Company to further expand its mochi snack platform.

LBC Credit Partners, PineBridge Investments and WhiteHorse Capital financed the acquisition.

Ropes & Gray served as the legal counsel and Plante Moran as financial and tax advisor to Lakeview Capital. Houlihan Lokey served as the financial advisor to Century Park and Winston & Strawn provided legal counsel.