3 Rivers Capital Completes Sale of Deep Well Services

The Appointments Of Robert Sharpe and Dan Milich Reflect The Private Equity Firm’s Commitment In Rapidly Expanding Blue Chip’s Proprietary And Contract Operations

For Immediate Release:

PITTSBURGH (January 5, 2022) – Pittsburgh-based private equity firm 3 Rivers Capital (https://3riverscap.com/) has appointed prominent business leaders Robert Sharpe and Dan Milich to the Board of Directors of Blue Chip Group (https://www.bluechipgroup.net/), it was announced by Rob Carskadden, Managing Partner of 3 Rivers Capital. The appointments follow on the heels of 3 River Capital’s recently announced majority stake acquisition of Blue Chip Group (3 Rivers Capital Acquires Majority Stake in Blue Chip Group (prnewswire.com), for 50 years a successful family-owned and operated business that continues to serve as the country’s pioneering leader in emergency food preparedness.

Robert Sharpe (https://www.linkedin.com/in/robert-sharpe-85837414/) is Founder and Principal of SharpeView Ventures, LLC, a prominent investment company and consultancy engaged in the food and beverage industry. He also serves as a member of the Advisory Board of Blake’s Family of Companies, a familyowned operator of food and beverage businesses and one of the nation’s largest craft hard cider companies where he also served as Chief Operating Officer for the past two years. Prior to his formation of SharpeView Ventures, he served as Chief Operating Officer of Kabbage, Inc., a global financial services, technology and data platform and as President and Chief Operating Officer of National DCP, a $2 billion supply chain management company serving the franchisees of Dunkin’ Donuts. Sharpe also served as Chief Executive Officer and Board Member of Campofrio Food Group, where he helped complete the merger between Campofrío Alimentación and Groupe Smithfield, which resulted in the creation of Campofrio Food Group. Before forming Campofrio, Sharpe was President, Chief Executive Officer and Board Member of Groupe Smithfield, S.L. since the formation of that company. During his tenure at Groupe Smithfield, he completed the acquisition of the European Meats operations of Sara Lee Corporation, integrated that business with the French operating unit of Smithfield Foods, assembled a multinational and multicultural leadership team and developed the strategy that led to the merger with Campofrio Alimentación.

Dan Milich (https://www.linkedin.com/in/daniel-milich-1920b014/) brings to his Blue Chip Group Board appointment a long history of success in mergers & acquisitions, consulting and executive experience in the food industry. Milich serves as the President and CEO of Shrugged Enterprises LLC, a noted consultancy firm specializing in strategy development and execution, mergers and acquisitions and ownership transitions on behalf of clients. Prior to Shrugged, Milich spent 15 years at Heinz, most recently as CEO and President of Heinz Eastern Europe, a division of the global food manufacturer H. J. Heinz Company, where he led the rapid expansion of the Eastern European Business Unit, a division consisting of 39 countries and over 2000 employees. During this time, the business achieved record volume, revenue and operating profit growth, while driving record market shares across the region.

He previously served asthe Chief Strategy Officer for the Company, where he worked with senior management and the Board of Directors to develop, align and implement the long-term global corporate strategy for the Company, resulting in significant expansion in emerging markets and 29 consecutive quarters of organic topline growth, record profits and share price. Dan also has significant food transaction experience, completing over 30 transactions across 15 countries during multiple senior leadership business development roles across the US and Europe, including being the Vice President of Global Business Development for the Company. Since leaving Heinz, Milich has served on numerous boards, including Duet Capital West Africa, Mintek Resources, STT Storage & Transfer, TruFoods Manufacturing and Carmeuse Brazil.

“We are pleased to announce the appointment of Robert Sharpe and Dan Milich as members of the Blue Chip Group Board of Directors. We look forward to benefiting from Robert and Dan’s extensive expertise and diverse business skill sets as we work with Blue Chip management to position this extraordinary company for accelerated growth,” said Carskadden.

Founded in 1972 by Phil Augason, Blue Chip Group produces food and beverage products, including Augason Farms, the most respected brand in the emergency food preparedness category. Continuing his father’s legacy of delivering the highest possible quality food storage products within the emergency preparedness category, Blue Chip President Mark Augason has succeeded in building the company into a major supplier of proprietary and white labeled preparedness food with over 300 products manufactured and sold nationwide.

The investment from 3 Rivers Capital will create additional operational capacity aimed at accelerating delivery of the company’s high-demand preparedness products and dramatically expanding their dry food and beverage contract manufacturing capabilities and capacity. The 3 Rivers Capital majority stake acquisition comes at a time when Blue Chip has achieved the highest volume period in its storied history and as the company prepares to meet record demand for its contract manufacturing business and emergency preparedness products in 2022. In addition to its robust e-commerce business with Amazon and other partners, Blue Chip’s Augason Farms brand remains a dry food category staple at such major retailers as Walmart and Winco.

About 3 Rivers Capital: 3 Rivers Capital is a private equity firm focused on control acquisitions of small businesses with EBITDA between $4-15M. Since its founding in 2005, 3 Rivers Capital has built expertise in acquiring family and entrepreneur-owned businesses that present a clear and compelling opportunity to create significant value. 3 Rivers Capital adds value through active ownership and supportive partnerships with highly motivated management teams. Visit (https://3riverscap.com/).

About Blue Chip Group and Augason Farms: Founded in 1972 in Salt Lake City, Blue Chip Group, with the Augason Farms brand, is a pioneering leader in the preparedness food industry, sourcing, formulating, and producing the most nutritious emergency foods on the market. With a customer satisfaction ranking on Google Review of 4.5 stars, Augason Farms products are available at many of the country’s most prominent and trusted national retailers. Visit www.augasonfarms.com. Blue Chip Group is also a growing Food and Beverage Contract Manufacturer, with expanding capabilities and capacity. Visit www.bcgcopacking.com

FOR FURTHER INFORMATION CONTACT:

Steve Syatt, SSA Public Relations (steve@ssapr.com)
818-222-4000