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The private equity firm is trying to recapture the magic it had with a former eyewear portfolio company, Hilco Vision, which Blue Point acquired, grew and sold between 2014 and 2019.
Blue Point Capital Partners is the new owner of the company that focuses on cheap but stylish reading glasses.
Water Lilies is a manufacturer and distributor of Asian-inspired food products including spring rolls, dumplings and bao buns.
Cleveland-based Blue Point Capital Partners acquired the company in partnership with Water Lilies CEO Peter Lee.
Trustees, especially Catholic-board ones, stung by report's recommendations and lack of consultation.