Micropack Corporation, a national leader in the manufacture and sale of value-tier single-serve bottled water products, announced that Odin Capital Group of Omaha, Nebr., has made an equity investment in the company. The investment completes Micropack's most recent round of equity and mezzanine financing raised in conjunction with
the company's acquisition of the assets of Vermont Pure Springs, a well-respected producer of private label spring water.
"We are pleased Odin Capital Group has selected Micropack as its newest investment opportunity. This additional capital exceeds our target and positions the company well to execute on its aggressive growth plans. We will continue with our strategy to strengthen Micropack's position as the leader in value-tier, single-serve bottled water," said James M. Morgan, Micropack's president and CEO.
Odin joins Convergent Capital, Boston Community Ventures and Fresh Tracks Capital as recent additions to Micropack's investor group. Also participating in this round of investment were existing shareholders Ampersand Ventures, New England Partners and Prism Opportunity Fund.
"We are excited to become part of Micropack's aggressive growth plans. We were attracted to this opportunity by the exceptional team of executives, industry advisors and financial investors that the company has assembled. Micropack has an impressive track record, customer base and leadership position within its target market that we believe is a formula for continued success," said John G. Gustafson, a principal of Odin Capital Group.
Odin Capital Group is a private equity firm based in Omaha, Nebraska. Odin Capital Group is the general partner of the $40 million Odin Fund I, L.P., a private equity fund that was formed in 2000.
More information on Odin Capital Group is available at http://www.odincapital.com.
Founded in 1997, Micropack Corporation is a profitable company that has doubled its revenue with the recent Vermont Pure Springs acquisition. Headquartered in Natick, Mass., the company owns and operates four PET purified water bottling facilities located in Pennsylvania, Texas, Florida and Illinois and the recently acquired Vermont spring water facility. More
information can be found at http://www.micropackbottledwater.com.
Source: Micropack Corporation