CheeseWorks Inc.

Growth Financing

June 2006

One of the leading providers of high-end cheeses and specialty foods to the organic, natural and specialty retail and foodservice markets, Ringwood, NJ-based CheeseWorks Inc. sells a wide variety of high-end imported and domestic cheeses complemented by a broad offering of specialty food products.

Situation: EG Capital Group, LLC, a New York-based private equity firm that invests primarily in the consumer products industry, needed financing to invest in CheeseWorks.

Financing: The W. P. Carey Group acquired two CheeseWorks properties located in Ringwood, NJ and Alameda, CA, which serve as cold storage and distribution facilities, and leased them back to CheeseWorks under a long-term triple net lease.

Outcome: The sale-leaseback transaction provided EG Capital Group with the financing it needed to make an investment in CheeseWorks, enabling both companies to pursue various growth opportunities in the specialty and natural food sectors.