The Perfect Purée of Napa Valley has announced a new ownership structure and the formation of its first board of directors.
Building on the success of the company’s 30th anniversary in 2018, founder Tracy Hayward announced that she now shares ownership with co-presidents and long-time employees, chief marketing officer Michele Lex and chief financial officer Medhane Kidane.
At a time when many independent companies are succumbing to consolidation, Hayward’s decision reflects her commitment to the future of The Perfect Purée of Napa Valley, a leading U.S. producer of premium fruit purées, zests and signature blends for culinary, pastry and beverage application.
“The new management direction is a testament to the success and the potential of independent business. It affirms my commitment to growth by partnering with two trusted long-time managers. This overture to make Med and Michele owners ensures that we have broader options for courses of action and accountability for the company moving forward. We are excited for this new bridge into our future and the ability to share our growth and continued success as a family inside a dynamic company that is held by many unique relationships.”
– Tracy Hayward, The Perfect Purée of Napa Valley Founder
The new, five-member board of directors was established to continue The Perfect Purée of Napa Valley’s role as a historically successful and trusted leader in the specialty foods industry. The board will support the company’s growth with independent perspective and provide legal responsibility and obligation to sustain the company’s goals.
Board members include Hayward, Lex and Kidane, along with long-time friends Sangeeta Patel, PhD, and Michael Roy. Patel was a former employee of The Perfect Purée of Napa Valley and is the founder and principal scientist at Product Solutions Research, Inc. in Davis, CA, and the chief scientific officer at TriKomBio in Klamath Falls, OR and Just One Organics in Santa Rosa, CA. Roy, the president and managing director at Pacific Marketing Partners, Inc., has a deep understanding of corporate finance and strategic development. Atty. Mark Cassanego will serve as counsel, bringing to the board more than 30 years of experience in providing legal advice to private businesses and business owners, including venture-backed and other privately-owned entities.
“Medhane and I are thrilled to lead The Perfect Purée into the next 30 years,” Lex says. “The last 10 years have been pivotal growth years as we jumped head-first into beverage application with impressive results. We know there is still much to achieve, including the launch of two new flavors later this year—Peach Ginger and Red Jalapeño Purée—and we look forward to the challenge of continuing to provide a high-quality product to our customers.”