Park Ave RE Holdings, LLC Acquires Leading Manufacturing and Distribution Facility
Sale-leaseback of 7 facilities

Columbus Nova MB, LLC (“CNMB”) manager of Park Ave RE Holdings, LLC (“PARE”), announced today that it has acquired the real estate portfolio of Diamond Crystal Brands, Inc. (“DCB”) for an undisclosed amount, as part of a successful sale-leaseback transaction. The portfolio is comprised of seven facilities located in Visalia, CA; Savannah, GA; Bondurant, IA; Duluth, GA; Bremen, GA; and Mitchellville, IA. DCB is a portfolio company of Peak Rock Capital, a leading middle-market private equity firm.

Founded in 1980, DCB is a leading manufacturer and distributor of customized foodservice solutions, including sauces, dressings, condiments, drink mixes, salt, pepper, sweeteners and other food and beverage products. DCB has a diverse customer base of blue chip foodservice distributors, national restaurant chains and convenience stores.  Operating from its seven SQF Level 3 manufacturing facilities nationwide, the Company offers customers a comprehensive range of portion control and single serve food and beverage products.  DCB has earned a strong reputation in the industry for its unrivaled product breadth, commitment to superior quality and its unmatched levels of customer service, driven in part by its research & development capabilities that drive customized, tailored solutions.

Waldo Bradley, Vice President of CNMB, commented: “With a rich history of operational excellence and quality products, Diamond Crystal Brands is the preeminent leader in the manufacturing and distribution of portion control and single serve foodservice solutions. We are excited to partner with DCB and continue to support its long-term growth plans.”

Yoni Riemer, Vice President at Peak Rock Capital, commented: “It was a pleasure working with Columbus Nova MB and PARE. This transaction allows us to focus on executing on our growth initiatives, investing in operational excellence, and expanding our customer reach and product breadth.”

About CNMB

CNMB is a manager of investment portfolios through its separate account and Baikal programs. CNMB also provides advisory services to middle market companies and real estate owners through its broker dealer, Roosevelt Equity Corporation. Please visit http://www.columbusnovamb.com/ for more information about CNMB or contact Amos Beason +1 (704) 285-7750 or Lon Brown at +1 (704) 285-7756.

About PARE

PARE is a portfolio company of Business Development Corporation of America (“BDCA”), and was specifically formed to invest in mission-critical sale-leaseback, single-tenant, net lease properties transactions associated with the middle-market private equity community.

About Diamond Crystal Brands

Founded in 1980, DCB is a leading manufacturer and distributor of customized foodservice solutions, including sauces, dressings, condiments, drink mixes, salt, pepper, sweeteners and other food and beverage products. Based in Savannah, GA and operating out of seven SQF Level 3 facilities nationwide, the Company offers products to a diverse customer base of leading foodservice distributors, national restaurant chains and convenience stores.

About Peak Rock Capital

Peak Rock Capital is a leading middle-market private equity firm that makes equity and debt investments in companies in North America and Europe.  Peak Rock focuses on investing in opportunities where it can support senior management in driving rapid growth and profit improvement through operational and strategic change. Peak Rock’s principals have deep expertise in complex situations and cross border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities.

CNMB with offices in Charlotte, New York, manages portfolios of real estate assets for a variety of investors in a separate account program. CNMB’s Advisory Group serves middle market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. CNMB also manages the Baikal Program, which makes investments in growing businesses and in private equity funds.