Breakwater Management Completes Growth Investment into Argo Tea, Inc.

Credit opportunity fund backs leading Chicago-based tea retailer and wholesaler, to support the accelerated expansion of its global, multi-channel beverage brand.

LOS ANGELES, December 2014 – Breakwater Management, LP (“Breakwater”) is pleased to announce the recent closing of a significant growth-capital investment into Argo Tea, Inc. (“Argo Tea”), out of its Breakwater Credit Opportunities Fund, L.P. Based in Los Angeles, Breakwater is a private investment firm that specializes in direct investments into highly promising middle market businesses.

Argo Tea®, the company known for blending the finest local and global loose-leaf teas in over 40 locations worldwide, is a multi-channel branded beverage enterprise headquartered in Chicago, IL. Founded in 2003, the business offers a unique experience for customers through its distinctive menu of natural, tea-based signature drinks, wide choice of loose-leaf teas, organic coffee, and other specialty foods.

“Argo Tea has become a household name and a leading beverage brand renowned for its high-quality products,” said Arsen Avakian, founder and CEO of Argo Tea. “The company’s differentiated brand is set for further expansion, and this well-structured financing from Breakwater will help us take full advantage of additional attractive commercial opportunities.”

“Argo Tea’s compelling omni-channel strategy offers multiple avenues for growing the brand and its product offering,” said Saif Mansour, Managing Partner at Breakwater. “The company’s robust wholesale platform has been flourishing, with sales doubling each year, and its highly scalable licensing business and vast ecosystem of partnerships with global food and beverage firms offer further attractive growth prospects. We are delighted to be supporting Arsen Avakian and his exceptional management team, as they pursue new, exciting expansion plans for the business.”

Argo Tea is led by highly respected industry leaders with a proven track record of growing consumer products companies, including Starbucks, Dunkin Brands, Pepsi, Frito Lay, Gatorade, Tropicana, and Quaker.

ABOUT BREAKWATER MANAGEMENT, LP

Breakwater Management is a private investment firm that makes direct equity and debt investments in leading lower middle market growth companies. The firm aligns itself with committed management teams, owners, and sponsors, providing both capital and operating expertise to propel emerging businesses into their growth curve. Breakwater is a diversified alternative asset manager that offers independent and institutional investors access to multiple investment vehicles that serve the lower middle market’s growth capital needs.

To learn more about Breakwater, visit http://www.breakwatermgmt.com or call (424) 777-4000.

 

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Dear friends,

It is with profound sadness that we relay news of the recent death of our partner Saif Mansour. Saif passed away suddenly on October 27th due to an undiagnosed heart condition.

Saif founded Breakwater in 2009 as a young entrepreneur, with the vision of creating an investment firm that reflected his commitment to excellence, integrity, and long-term partnership. He was an incredibly intelligent, energetic, kind, and charismatic person, and a great connector of people who brought joy to everyone who knew him. He was a talented investor, a wonderful friend, and a natural leader.

Saif’s passion for Breakwater was surpassed only by his enormous love for his wife and their two young children. We grieve with them and extend our deepest sympathies to all of his family and friends.

We are heartbroken by this terrible loss but will honor Saif’s memory by continuing to build a firm that reflects his entrepreneurial spirit and core values. May his memory be a blessing to us all.

Sincerely,
The Breakwater Family

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