Sunny Delight & Punica (J.W. Childs)

August 1, 2004

      Compass Advisers, LLP ("Compass") is pleased to announce the acquisition of the Sunny Delight and Punica juice-based drink businesses and related assets (collectively, "Sunny D") by Boston-based private equity investment firm, J.W. Childs Associates LP ("JWC").  With more than $550 million in annual sales, Sunny D operates in eight countries across North America and Europe, owns or leases six manufacturing facilities and has approximately 700 employees.  Compass acted as exclusive financial advisor to JWC, who acquired Sunny D from Procter & Gamble.

      The Sunny D advisory assignment is an excellent example of Compass developing an opportunity and bringing experience to the table to help a client achieve its objectives.  Historically, Compass' professionals have extensive expertise and strong relationships with Sunny D, giving us unique insight into the business.  Our professionals provided an insider's view and breadth of knowledge on operational characteristics that helped our client in its consideration of this investment.

      With its demonstrated ability to bring mid-sized businesses to the next level and its focus on consumer products, healthcare and specialty retail, JWC was the perfect fit to purchase Sunny D, which was able to offer continued employment to the vast majority of its juice business employees following the transaction.  Compass has helped JWC acquire an industry leader and growing brand, known for its high quality people and manufacturing facilities and excellent product line.