Bregal is a New-York based private equity firm focused on investing in middle-market companies within consumer and food sectors
My/Mo mochi ice cream product display
Photo as seen on the company website

The Mochi Ice Cream Co., a portfolio company of Lakeview Capital, has welcomed Bregal Partners as its new equity shareholder. The company is deemed the largest branded manufacturer of mochi ice cream in North America.

The news follows on a financing deal with Lakeview Capital for an undisclosed sum. Lakeview is a single-family office based in Michigan.

Bregal Partners is a private equity firm based in new York that invests in middle-market companies within consumer and food sectors. The firm states that it is committed to promoting corporate social responsibility in all aspects of its business.

“We share the same vision as Lakeview and Bregal,” said Craig Berger, chief executive of The Mochi Ice Cream Co. “Together with our partners, we are excited to build a leading global branded snack business and continue to disrupt through our product innovation the frozen novelty and snack markets.”

The Mochi Ice Cream Co. is headquartered in Los Angeles and is the maker of My/Mo Mochi Ice Cream. The brand’s products are currently available in more than 30,000 retailers throughout the US.

The company has more than 100-year history and claims to have invented the mochi ice cream, a handheld, portion-controlled snack of premium ice cream wrapped in pillowy sweet rice dough.

Investing in trailblazers

“We have built strong support and conviction behind our thesis of investing in companies producing internationally inspired foods and snacks in the US,” said Charles Yoon, managing partner for Bregal Partners.

Yoon argued that as part of this thesis, the firm has followed My/Mo Mochi‘s impressive growth story over the last several years. “We’re thrilled to have the opportunity to partner with the company, its experienced management team and its owners and help continue the momentum behind this unique and innovative snack business,” he said.

Jake Freeman, director of Investments at Lakeview Capital, said the company looks forward to working with Bregal as a strategic and financial partner.

“Given their focus and experience in scaling middle-market food and branded products companies, we believe they are the right partners for us for this next growth phase of My/Mo Mochi.”

Charles Yoon, Irina Krasik, Paul Kushner, and Andy Neumann led the investment for Bregal.

Lincoln International and Ancoris Capital Partners acted as financial advisors, and Ropes & Gray acted as legal advisor to Lakeview and The Mochi Ice Cream Co. Winston & Strawn provided legal counsel to Bregal Partners.

Date published: 8 December 2020

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