Alantra served as exclusive financial advisor to Garden-Fresh Foods on its sale to Mrs. Gerry’s Kitchen, a portfolio company of Sequel Holdings. Garden-Fresh is a leading manufacturer of branded and private label refrigerated foods for retail grocery stores, restaurants and other locations across the nation. Products include ready-to-eat deli salads, dips, spreads, salsas, and desserts. Operating out of a 170,000 square foot facility in Milwaukee, Wisconsin, the Company was founded in 1978 by Tom and Vicki Hughes. Tom and Vicki’s three sons, David, Jonathan and Michael Hughes, as well as the Company’s CEO, John Colapinto, will remain involved in the management of the business under its new ownership.
Mrs. Gerry’s Kitchen, based in Albert Lea, Minnesota, develops, manufactures, markets and distributes premium salads and side dishes for retail and foodservice customers. The company’s primary products include fresh refrigerated potato salads, pasta salads, coleslaws, macaroni and cheese and mashed potatoes, as well as dips, dip platters and protein salads.
“We could not have hoped for a better outcome. With our combined strengths and excellent reputations in the prepared salad market, we are looking forward to working with the Mrs. Gerry’s team to achieve further success,” said David Hughes of Garden-Fresh, “the Hughes Family cannot express enough what a pleasure it was working with Alantra on the sale of our business. Their responsiveness, organization, and expertise made the experience a truly positive endeavor.”
Jeffrey Robards, Managing Director at Alantra, said: “We are proud to have supported Garden-Fresh and the Hughes family in entering into a successful partnership with Mrs. Gerry’s. This outcome exemplifies how Alantra’s prepared foods experience and network of sector relationships enables effective engagement with the logical strategic partners for our clients and facilitates competition to drive premium valuations.”
“Alantra’s sector knowledge and relationships were invaluable” according to John Colapinto, CEO of Garden-Fresh “and resulted in a transaction that brings together two long-standing prepared foods providers with shared values and complementary strengths and positions the combined business for long-term success.”
Daniel O’Brien, Director at Alantra, said: “It’s been a privilege to be entrusted by the Hughes family and the Garden-Fresh team in finding the right partner for the company. This transaction demonstrates Alantra’s ability to tailor and execute bespoke, creative processes that drive successful outcomes for our clients.”
The transaction builds on Alantra’s strong momentum in the Consumer Goods & Retail sector, particularly within bakery products, desserts and prepared foods for the retail and foodservice channels, following advising on the sale of Maple Donuts to Swander Pace Capital, and the acquisitions of Ellison Bakery by MidOcean Partners and Banneton Bakery by Vandemoortele.
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