CASTLE HARLAN AUSTRALIAN MEZZANINE Partners (Champ), an affiliate of Castle Harlan (New York), has acquired Penrice Soda Products (Adelaide) from IMC Global for A$85 million ($43 million). The purchase used some debt financing, which was underwritten by JPMorgan.
W. George Harris and Michael Boyce have become investors in and co-chairmen of Penrice; they were formerly chairman and CEO, respectively, of Harris Chemicals, which owned Penrice from 1996 until 1998, when it was sold to IMC. Penrice's existing management will be retained, says Champ.
Penrice is the only Australian …
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