Firm Up for "Private Equity Firm of the Year" and "Turnaround Deal of the Year"

Press Release

SAN FRANCISCO, CA, November 2, 2005 - TSG Consumer Partners ("TSG"), a private equity fund focused exclusively on branded consumer businesses, has been named a finalist in two categories - "Private Equity Firm of the Year" and for the "Turnaround Deal of the Year" -- in the 4th Annual Awards program sponsored by M&A Advisor, a leading monthly newsletter that serves buyers and sellers in the middle market. The winners will be announced Dec. 5, 2005 at a dinner in New York City.

"We are pleased with this recognition of our firm and its accomplishments," said Charles H. "Chuck" Esserman, TSG President and CEO. "It is especially gratifying to be the only consumer-focused fund singled out for the Private Equity Firm of the Year. Our success in partnering with management to turn around Mauna Loa Macadamia Nut Corporation, the world's largest marketer and processor of macadamia nuts, a transaction nominated for Turnaround Deal of the Year, illustrates our broad expertise and capabilities in the branded consumer category. What is also gratifying is that we are the only private equity fund to be nominated for both these awards."

With approximately $700 million in equity capital under management, TSG has generated top tier returns across its branded consumer investment portfolio. The firm, among other achievements, was the first significant private equity partnership to invest in the natural and organic foods spaces, functional food and beverage categories, ethnic food and refrigerated entrées, and orphan brands in the personal care and household sectors.

"Our firm pioneered the use of private equity in high-growth, middle market branded consumer companies, and our team of veteran professionals clearly ranks us as the most experienced among consumer-focused equity funds," said Mr. Esserman. "Our success, we believe, has contributed to increased awareness of the value of focus and sector expertise in the private equity industry, and thus the creation of many specialized middle-market funds."

At Mauna Loa, TSG invested $25 million in a company with a quintessential Hawaiian brand but one that was losing $10 million a year, a plight which threatened to shutter one of the last remaining agricultural industries on the islands. TSG recruited new management, and with management eliminated unprofitable business and SKUs, expanded the product line and launched new packaging -- which changed the perception of macadamia nuts from a special occasion item to a premium product for everyday consumption - and widened distribution among major chains. In less than four years, sales more than doubled.

The result was that Mauna Loa has begun to grow rapidly, workers retained their jobs, and profitability increased by over $20 million. Mauna Loa was sold to Hershey Foods in December 2004, permitting shareholders to realize a profit of approximately $100 million.

About TSG Consumer Partners

Founded in 1987, TSG Consumer Partners L.P. pioneered the use of private equity in high-growth, middle market branded consumer companies, and has maintained this focus since inception, with an 18 year track record. The fund has generated top quartile returns on all realized branded consumer investments over three funds, and has developed a team of professionals with an unmatched breadth and depth of expertise. With approximately $700 million in capital under management, TSG has invested in such brands as Terra Chips, Glaceau VitaminWater, Don Miguel, Cutex, Denorex, Meguiar's, Famous Amos, MET-Rx and Mauna Loa Macadamia Nuts, among others. The firm works closely with management teams to build leading companies and strong brands.


Contact:
Steven S. Anreder
Jeffrey S. McKenzie
Anreder and Company
212-532-3232
steven.anreder@anreder.com
jeff.mckenzie@anreder.com