Peak Rock Capital is preparing to launch a sale process for Berner Food & Beverage, a private-label manufacturer of dips, spreads and beverages acquired in 2015, according to three sources briefed on the matter. The Austin-based firm is in early stages of testing market interest for the portfolio company.

Separately, IVEST Consumer Partners and Cloverlay successfully grew the Care Bears entertainment franchise through strategic licensing initiatives before exiting to Authentic Brands Group. The consumer-focused investors expanded the brand's reach across multiple categories and geographies during their ownership period.

Both transactions highlight continued deal activity in the consumer and food sectors, with private equity firms pursuing exits for mature portfolio assets. The Berner process comes as sponsors evaluate timing for food manufacturing assets amid shifting consumer preferences.