Private equity firm plans to offload stake in Mighty Leaf
VMG Partners, a private equity investment firm specializing in branded consumer products, is looking to sells its stake in Mighty Leaf Tea Co. William Blair & Co, an investment bank, was hired to handle the sale process and seek strategic buyers for the specialty tea manufacturer. Mighty Leaf supplies premium teas to hotels, restaurants and specialty retailers. VMG Partners purchased a roughly 20% stake in Mighty Leaf in 2007 for an undisclosed amount. At the time, annual revenue was approximately $15 million. Current annual revenue is estimated at $40 million. The move is part of a broader push by VMG Partners to divest from an investment fund focused on consumer food and beverage brands.