CIC Partners Announces the Sale of Combs Produce

Dallas, TX June 1, 2012 – CIC Partners LP, a Dallas-based middle-market private equity firm, today announced the completed sale of its investment in Combs Produce LP (“Combs” or “the Company”) to Immokalee, FL based Lipman Produce.

Founded in 1958 by J.C. Combs, Combs Produce has grown to be the largest tomato packer in the Southwest region. In 2009, CIC Partners invested in Combs in partnership with Jay Pack and the Company management team, led by Brett Combs. During its ownership period, CIC Partners successfully recruited a senior management team and executed a strategic plan that expanded Combs services and sales into the foodservice and retail channels.

“This transaction is a great outcome for the Company and for CIC Partners,” stated Jeff Partridge, former CEO of Combs. “More importantly it addresses our customers growing desire for produce direct from the source. When combined with Combs value added service offerings, our customers will get the best of both worlds”.

“I couldn’t be more pleased with the partnership with CIC Partners,” stated Brett Combs. “CIC Partners brought the resources, team and capability to better position Combs. As a result, our customers, employees and shareholders will benefit tremendously from this transaction”.

About CIC Partners

CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, Operating Partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its Operating Partners, who are successful CEO’s and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit www.cicpartners.com.



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