EVERFRESH LOOKING FOR NEW OWNERS
By Adnews Staff
Everfresh Beverages is in receivership in Canada and has filed for Chapter 11 protection from bankruptcy in the U.S., reports The Globe and Mail. Ernst & Young of Toronto has been appointed interim receiver for the Canadian operation under the Bankruptcy and Insolvency Act. Ernst & Young officials were unavailable for comment yesterday. They are reported to be negotiating with potential buyers of Everfresh's Canadian operation. Everfresh is a privately-owned Chicago-based company with sales of about $200 million(US) a year. In Canada, Everfresh's ad agency is Ambrose Carr Linton Kelly of Toronto. Everfresh was established by John Labatt Ltd. in the mid-1980s, but the beer maker was unable to run a profitable operation for "new age" drinks. It sold the company in 1992 to two investors. Now Everfresh is owned by New York investment firm Charterhouse Equity Partners. Everfresh markets fruit drinks, fruit juices and mineral water across North America. It is headed by Peter Vitulli who was once at Quaker Oats where he helped build the Gatorade brand.