Transaction Announcements – Category Posts from The Forbes M+A Group. Research via our Knowledge Base and get access to M&A articles, news, and other info.

The Forbes M+A Group Serves as Exclusive Advisor to Four Pet Treat and Supplement Leaders in $600 Million Strategic Transaction with ADM

ADM Significantly Expands Pet Treat and Supplement Capabilities with Planned Acquisition of Majority Stake in PetDine, Pedigree Ovens, The Pound Bakery

 

P4 Companies’ extensive customer base and full spectrum of customized formulations and products, combined with ADM’s global capabilities, further enhance both companies’ abilities to meet growing global demand for high-quality, nutritious pet treats and supplements.

 

Chicago, Illinois (September 8, 2021) – ADM (NYSE: ADM), a global leader in human and animal nutrition, announced today that it has reached an agreement to acquire a 75% ownership stake in PetDine, Pedigree Ovens, The Pound Bakery and NutraDine (P4 Companies), premier providers of private label pet treats and supplements. The transaction values the four enterprises in their entirety at approximately $600 million, and ADM will acquire 75% of the equity, subject to customary adjustments.

“We’re continuing to advance our growth strategy and transform our company with targeted investments that expand our capabilities in large, high-growth segments, including pet nutrition – a key focus of our growing animal nutrition business,” said Vince Macciocchi, president of ADM’s Nutrition business. “Annual global sales of pet food total $110 billion, forecast to grow to $140 billion by 2026 – with pet treats an even faster-growing category. We’ve grown to meet that demand, from the construction of new production facilities, to the additions of pet treat and food provider Crosswind and Neovia’s global pet nutrition business, to the opening of our industry-leading Animal Nutrition Technology Center in Decatur. Now, we’re taking the next step in our strategic journey with a majority investment in P4. We’re excited by this agreement, which we expect to exceed our hurdle rates and financial return targets as we partner with an innovative, high-growth business with a great track record of working closely with customers around the globe to develop and produce best-in-class pet products.”

With more than 300 employees, P4 Companies provides a complete range of highly customized pet treat and supplement products to more than 650 customers in 15 countries. Their offerings include baked treats, semi-moist treats, long goods, blends, unique proteins, soft chews, liquids and powders, many of which are developed to meet the demand for clean labels. P4 has delivered strong revenue and profit growth in recent years, and has invested in new product lines as well as expanded its production capacity.

ADM will also acquire P4’s 300,000+ square feet of state-of-the-art production and innovation facilities in Illinois and Colorado. In addition, the agreement includes a put/call option under which the parties could agree for ADM to purchase the remaining 25 percent at an agreed-upon market price in the coming years.

“As a group, our companies PetDine, Pedigree Ovens and The Pound Bakery, have become clear leaders in the pet supplement and treat space,” said Preston Munsch, CEO, PetDine. “Through innovation, R&D and manufacturing expertise, we have become important strategic partners to brands around the world. Through this new and exciting partnership with ADM, we will be able to advance our customers’ lead positions in the pet industry even further. Through their extensive list of ingredients combined with their Animal Nutrition Technology Center and worldwide resources, we are excited to merge our knowledge and expertise to continue to be innovative leaders in the pet industry.”

“ADM’s global resources — from ingredient supply chain, transportation and their emerging pet nutrition platform — are what we were looking for in a partner,” said Kurt Stricker, owner, Pedigree Ovens. “We are excited to continue our strong growth path together.”

“Joining the ADM family gives us the ability to elevate and expand our product offerings to our customers and continue to support their ideas and growth,” said Lexie Berglund, president, The Pound Bakery.

Like ADM, P4 has shown a strong commitment to sustainable practices; in 2020, they announced that their Harvard, Illinois, production facility was now powered with solar power, with the capacity to offset almost 1,500 tons of greenhouse gas emissions annually.

“Two years ago, ADM identified the humanization of pets – owners who want to provide their companion animals with the same kind of clean, simple, healthy products they eat themselves – as an important growth trend,” Macciocchi continued. “This partnership positions ADM perfectly to continue to meet those needs. We’re excited to partner with the great P4 team, and we look forward to collaborating with them to combine their best-in-class customized solutions with ADM’s extensive pantry of ingredients, natural colors, and flavors; application development expertise; rapid prototyping and innovation capabilities; and global go-to-market footprint.”

The proposed transaction is subject to regulatory approvals, and is expected to be completed in the coming weeks.

Forward-Looking Statements

Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.

About ADM

At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.

Source: Corporate Release

View source version on businesswire.comhttps://www.businesswire.com/news/home/20210908005842/en/

ADM Media Relations
Jackie Anderson
media@adm.com
312-634-8484

The Forbes M+A Group Advises Evergreen Home Healthcare on its Sale to Aveanna Healthcare a Portfolio Company of Bain Capital

Denver, Colorado (October 29, 2020)The Forbes M+A Group (Forbes), a leading middle market transaction advisory firm, is pleased to announce its client, Evergreen Home Healthcare (Evergreen), has successfully been acquired by Aveanna Healthcare, a portfolio company of Bain Capital.

“I am happy to have found such a great team to lead us through this exit. Forbes really took the time to internalize our goals, which varied from shareholder to shareholder, and created a process that met the needs of all of us,” said Aaron Ellsworth, Co-Founder, and CEO of Evergreen Home Healthcare. “The Forbes team was targeted in their marketing and found a buyer that really valued what my partners and I have built, even amidst this challenging environment. We are excited to become a part of Aveanna and are eager to see them take Evergreen to the next level.”

Bill Nack, Managing Director & Partner at Forbes and Evergreen’s lead advisor, states ”It was an honor to represent a client such as Evergreen Home Healthcare,” Mr. Nack added, “Their management team, approach to patient care, and continued growth within their markets was highly attractive to buyers within the home healthcare space. Despite challenges 2020 confronted us with, we were able to drive the process quickly and efficiently from start to finish.”

Blake Shear, Director at Forbes and co-advisor, additionally commented, “Evergreen Home Healthcare’s breadth of services and reputation for exceptional patient care has made them a leader in Colorado,” Mr. Shear stated, “With the acquisition of Evergreen, Aveanna Healthcare will be able to quickly expand market share in this Medicaid friendly state and enable Evergreen to reach new heights.”

About Evergreen Home Healthcare

Evergreen Home Healthcare, LLC is a locally owned and operated company founded in 2007, located on the front range of Colorado. Since 2007, Evergreen Home Healthcare, LLC has helped hundreds of patients of all ages with a multitude of medical needs and conditions, receive the home care they need. Evergreen provides comprehensive home healthcare, including acute care and long-term medical care, specialized pediatric care, and more from compassionate caregivers.

About Aveanna Health Care

Aveanna Healthcare has helped set the standard for highly skilled in-home nursing services, raising the level of clinical expertise in the home care community. Aveanna’s broad range of services expands beyond in-home private duty nursing care to include in-home aide services, respite care, school nurse services, therapies, and rehabilitation.

About Bain Capital

Bain Capital is one of the world’s leading private multi-asset alternative investment firms with approximately $105 billion in assets under management that creates a lasting impact for investors, teams, businesses, and communities. Founded in 1984, Bain pioneered a consulting-based approach to private equity investing, partnering closely with management teams to offer insights that challenge conventional thinking, build great businesses, and improve operations.

About The Forbes M+A Group

The Forbes M+A Group, founded in 2004 with offices in Denver, CO, Salt Lake City, UT, and Nashville TN, is an award-winning investment bank with expertise in mergers and acquisitions, capital formation, and financial restructuring within the middle market. The group has over 15 years of experience delivering outstanding results for business owners, entrepreneurs, and investors. Advisors at The Forbes M+A Group have 250+ years of combined experience in international transactions across a wide variety of industries. The Forbes M+A Group has been recognized as a leader within the middle market as a regional M&A Firm of the Year for the past 5 years. For more information, please visit us at www.forbesma.com or phone at (303) 770-6017.

Media Contact: Sara Cody | +1 (303) 558-1462 | Sara.Cody@ForbesMA.com 

The Forbes M+A Group Advises Integro on its Sale to Innovative Discovery to Create an Information Governance Powerhouse

The Forbes M+A Group is honored to serve as the exclusive advisor to Integro on its sale to Innovative Discovery! Read more

The Forbes M+A Group Advises Managed Chaos on its Sale to Leading Performance Marketing Company Digital Media Solutions, Inc. (DMS)

ManagedChaos is the holding company for SmarterChaos, She Is Media, Dealtaker, and Elite Media Partners

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The Forbes M+A Group Advises Santa Rita Landscaping on its Sale to Westhook Capital

Leading provider of landscaping installation and maintenance services 

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The Forbes M+A Group Advises The Studio Director on its Sale to EverCommerce

Leading customer management and payment processing Software-as-a-Service to the dance studio industry

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The Forbes M+A Group Advises Moab Brewery on its Sale to Montage Partners

Leading Craft Brewery and Distillery Located in Moab, Utah

Salt Lake City, Utah, (January 8, 2020) – The Forbes M+A Group, a leading transaction advisory firm, served as exclusive advisor to Moab Brewery, the city of Moabs’ only on its to Montage Partners, a private equity group out of Scottsdale, Arizona.

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The Forbes M+A Group Advises Ponderosa Valley Funeral Services on its Sale to Foundation Partners

Leading funeral service provider

Greenwood Village, Colorado (September 9, 2019) – The Forbes M+A Group (Forbes M+A), a leading transaction advisory firm, served as exclusive advisor to Ponderosa Valley Funeral Services (Ponderosa Valley), a premier Colorado-based provider of traditional and memorial funeral services in the Rocky Mountain Region.

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The Forbes M+A Group Advises Novelty Lights on its Sale to American Lighting

Leading e-Commerce lighting platform focused on commercial grade products in the U.S. outdoor, seasonal, and decorative lighting market

Greenwood Village, Colo., (January 31, 2019) – The Forbes M+A Group (Forbes), a leading transaction advisory firm, served as exclusive advisor to Novelty Lights (Novelty), an e-Commerce lighting platform, on its majority interest sale to American Lighting Inc, a subsidiary of  Neo-Neon Holdings Limited. The transaction will serve to complement American Lighting’s current sales channels and supplement Novelty’s existing supply chain.

“American Lighting is an ideal partner for Novelty Lights. The combination will provide greater control over our supply chain and sales channels, ensuring a great customer experience in each transaction,” commented Tres Coors, CEO of Novelty Lights. “Forbes did a great job of guiding us through the process. Their industry knowledge, relationships with buyers, extensive transaction experience, and adaptive and creative deal making were essential in achieving an outcome that met our goals.”

“Novelty Lights’ decision to secure a strategic partner  will  position the company as an industry leader for years to come,” said Tom Schmidt, Managing Director & Partner at Forbes and Novelty Lights lead advisor. “The Forbes team was pleased to advise Novelty Lights on this transaction and achieve a great outcome.”

About Novelty Lights
Novelty Lights, a Colorado based company, was founded in 1999 as a direct importer of rope lights, holiday lights, and a variety of popular novelty lights. Since its founding, Novelty has grown into a leading e-Commerce lighting provider with a vast product line and unbeatable customer service.

About The Forbes M+A Group
The Forbes M+A Group is an award-winning Denver-based mergers and acquisitions advisory firm. The firm has a capital formation group and also serves buyers and sellers in middle-market M&A transactions. Forbes applies meticulous attention to detail helping business owners develop and execute M&A strategy, acquire companies and partner with investor groups for growth to maximize value in an eventual exit. Senior advisors at The Forbes M+A Group have more than 200 years of combined experience in transactions across a wide variety of industries. For more information regarding this transaction or The Forbes M+A Group please contact Max Eckstein.

About American Lighting
Founded in 1989, American Lighting manufactures a wide range of lighting solutions for residential, commercial, and specialty lighting needs. The company is committed to providing its customers a broad line of innovative and high-quality lighting products.

Media Contact
Max Eckstein
Max.Eckstein@ForbesMA.com
303.872.9085