B. Riley FBR Completes Successful Food Industry Transaction with the Sale of Pacifica Foods to Wind Point Partners
December 07, 2017 --
LOS ANGELES, Dec. 07, 2017 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc. (“B. Riley FBR”), a full-service investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), served as the exclusive financial advisor to Pacifica Foods (“Pacifica”) in its sale to Wind Point Partners (“Wind Point”). Terms of the transaction, which closed December 6, 2017, were not disclosed.
Headquartered in Corona, California, privately-held Pacifica Foods is a custom contract manufacturer of soups, sauces, dressings, and fresh salsas for both retail and foodservice customers with two operating production facilities. Throughout its entire 17-year history, Pacifica has built an exceptional reputation and is known throughout the contract food manufacturing industry for providing innovative, formula-driven culinary products to an impressive base of regional and national customers.
B. Riley FBR assisted in structuring and negotiating on behalf of Pacifica Foods and its shareholders. The B. Riley FBR transaction team was led by Senior Managing Director Greg Presson, Vice President Grant Hustedt and Analyst Patrick Haddan.
“Our selection of B. Riley FBR to represent Pacifica Foods was the result of an extensive financial advisor interview process,” said Ken Gerdau and Mark Sorenson, co-founders of the Company. The firm’s long history of advising privately-held, family-owned businesses and proven track record for maximizing shareholder value distinguished B. Riley FBR as the overwhelming choice to represent us. We were extremely pleased with the outcome and their skillful management of the entire corporate sale process.”
“B. Riley FBR’s active M&A involvement in the contract food manufacturing and overall food service sectors allows us to continually gain valuable insight into which private equity groups and strategic buyers are aggressively pursuing acquisitions of top performing companies similar to our client,” said Mr. Presson. “After extensive vetting and discussions, it became clear to us that Wind Point Partners was absolutely the perfect fit for Pacifica Foods.“
Wind Point’s acquisition of Pacifica Foods establishes yet another key partnership for the firm with entrepreneurially led and family-owned businesses, a principal tenet of Wind Point’s investment strategy for decades. Wind Point will seek to further grow the Company both organically and through add-on acquisitions, leveraging the firm’s extensive experience in the food industry.
“The completion of this transaction continues to underscore our fullest commitment to the entire food industry and to those companies seeking proven and experienced corporate sale representation and timely capital markets access.” added Mr. Hustedt.
About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
For more information regarding this transaction, please contact:
Mr. Greg Presson - 949-250-5500Mr. Grant Hustedt - 949-250-5516