Angelo, Gordon & Co.'s Net Lease Group Completes $58 Million Sale-Leaseback with Sunny Delight Beverages Co.

Angelo, Gordon & Co.'s ("Angelo Gordon") dedicated Net Lease Group ("AG Net Lease") announced today that it acquired three of Sunny Delight Beverages Co.'s ("Sunny D") primary domestic bottling facilities located in Anaheim, CA, Dayton, NJ, and Atlanta, GA. Proceeds of the sale-leaseback transaction primarily were used to pay down senior indebtedness. Boston-based private equity firm, J.W. Childs Associates, L.P. ("J.W. Childs") acquired Sunny D from Procter & Gamble in 2004.

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Quote startAG Net Lease provided an important source of capital in connection with Sunny D's bank refinancing which helped the company to substantially reduce its leverage and accelerate its ability to pursue various growth initiatives and investments. The transaction was well-executed and we look forward to working with AG Net Lease on future deals.Quote end

NEW YORK (PRWEB) June 7, 2007

    Sunny D is a leading producer of juice-based drinks in North America and Western Europe, producing and marketing such brands as SunnyD(R) Original, SunnyD Intense Sport(TM) and SunnyD Baja(TM). Sunny D has its U.S. headquarters in Cincinnati, Ohio, and its European headquarters in Barcelona, Spain. Sunny D has 600+ employees worldwide.

Teddy Kaplan, Managing Director and co-manager of AG Net Lease, commented, "We are delighted to have worked with Sunny D and J.W. Childs on this transaction. We believe that Sunny D's strong brand and management team coupled with J.W. Childs' sponsorship ensures a bright future for the company."

Bill Schumacher, Chief Financial Officer for Sunny D, said, "Our goal in this transaction was to free up valuable capital that we could use to grow our business. We are aggressively pursuing several significant new product launches and major investments in new packaging capability that will be much more affordable now that we have completed this transaction. These initiatives, in combination with the strong business results we have delivered over the past year, will create a very bright future for SunnyD, its shareholders and employees."

Jeff Teschke, Principal at J.W. Childs, said, "AG Net Lease provided an important source of capital in connection with Sunny D's bank refinancing which helped the company to substantially reduce its leverage and accelerate its ability to pursue various growth initiatives and investments. The transaction was well-executed and we look forward to working with AG Net Lease on future deals."

About Angelo, Gordon & Co. and AG Net Lease

Angelo, Gordon & Co. was founded in 1988 and, with its affiliates, has approximately $14 billion under management. Currently, the firm's investment disciplines encompass four principal areas: (i) distressed debt and leveraged loans, ii) real estate, (iii) private equity and special situations and (iv) a number of hedge fund strategies. Angelo, Gordon & Co. employs over 70 investment professionals and is headquartered in New York, with associated offices in Los Angeles, Chicago, London, Hong Kong and Seoul.

AG Net Lease is comprised of a team of experienced professionals committed to providing sale-leaseback financing to financial sponsors and their portfolio companies across a range of industries. AG Net Lease is currently investing its first dedicated net lease fund which closed earlier this year and will seek to purchase as much as $500 million of net leased corporate real estate in the U.S. and abroad with transactions ranging from $5 million to $200 million. AG Net Lease's unparalleled credit and real estate underwriting expertise, coupled with its unique funding platform, ensures highly competitive pricing and speed of execution to tenants and sponsors. Additional information on AG Net Lease can be found at http://www.angelogordon.com/netlease

About J.W. Childs Associates, L.P.

J.W. Childs Associates, L.P. is a private equity firm based in Boston, Massachusetts specializing in leveraged buyouts and recapitalizations of middle-market growth companies. Since 1995, J.W. Childs has invested in companies with a total transaction value of over $10 billion. J.W. Childs currently invests through J.W. Childs Equity Partners III, L.P., an investment fund with total committed capital from financial institutions, pension funds, insurance companies and university endowments of $1.75 billion.

About Sunny Delight Beverages Co.

Sunny Delight Beverages Co. is a leading producer of juice-based drinks in North America and Western Europe. The Company is dedicated to helping Moms improve the vitality of their families by creating and marketing more wholesome beverages. The Company's brands include SunnyD, FruitSimple, SunnyD Intense Sport, SunnyD Baja and Elations. The Company was founded in 1964 in Florida.

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