M&A Deal Summary

Ghanim bin Saad al Saad & Sons Group Holdings Acquires Kings Food Markets

On August 11, 2016, family office Ghanim bin Saad al Saad & Sons Group Holdings acquired food company Kings Food Markets from Angelo Gordon s Private Equity Group and MTN Capital Partners

Acquisition Highlights
  • This is Ghanim bin Saad al Saad & Sons Group Holdings’ 1st transaction in the Food sector.
  • This is Ghanim bin Saad al Saad & Sons Group Holdings’ 2nd transaction in the United States.
  • This is Ghanim bin Saad al Saad & Sons Group Holdings’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2016-08-11
Target Kings Food Markets
Sector Food
Buyer(s) Ghanim bin Saad al Saad & Sons Group Holdings
Sellers(s) Angelo Gordon s Private Equity Group
MTN Capital Partners
Deal Type Secondary Buyout

Target

Kings Food Markets

Parsippany, New Jersey, United States
website
Kings Food Markets is a gourmet food retailer with an established reputation for high quality products and servicesPartnered with industry veteran and fundless sponsor to acquire chain of 24 stores from a UK parent. An upscale grocery store serving customers throughout New Jersey, New York and Connecticut, Kings provides a unique shopping experience paired with the highest quality foods. From locally sourced, organically grown produce, to fresh fruit, delicious meats to hand-selected cheeses from over 20 countries.

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Buyer(S) 1

DESCRIPTION

Ghanim bin Saad al Saad & Sons Group is a family-backed investment holding firm focused on acquisitions and investments throughout Europe, the Middle East, Africa, Asia. Areas of interest include aviation, marine, automotive, oil & gas, real estate, manufacturing, trading, financial services, engineering, education, fitness, hospitality, apparel, information technology, and communications. Ghanim bin Saad al Saad & Sons Group was formed in 1993 and is based in Doha.


DEAL STATS #
Overall 3 of 3
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 Bethny

Germantown, Maryland, United States

Balducci's Food Lover's Market is a gourmet specialty food shop with stores located in New York, Connecticut, Maryland, Virginia and On the Go Café locations in New York City and Baltimore, MD.; with an office in Rockville, MD. With a commitment to food, each item brings the very best in flavors. From hand-selected produce, a variety of meats roasted and smoked in Old World tradition, fish flown in fresh from the wharves, restaurant–quality prepared foods, imported cheeses, and Balducci's own brand offerings, Balducci's has all the indulgences one can imagine.

Buy -

Seller(S) 2

SELLER

Angelo Gordon s Private Equity Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Angelo, Gordon's Private Equity Group is the private equity arm of asset manager Angele, Gordon & Co. AG's private equity group focuses on acquiring assets from financially distressed sellers or from larger corporations. Prospective transactions include forced sales, management-led buyouts, private company recapitalizations, corporate carve-outs, asset pool purchases, and other complex situations. The Group prefers control when considering opportunities and generally looks to commit $25 to $125 million of capital in transactions valued up to $500 million. Broad sectors of interest include specialty finance, retail, consumer, healthcare services/facilities, real estate, and business services. Angelo, Gordon's Private Equity group is based in New York City.


DEAL STATS #
Overall 9 of 12
Sector (Food) 2 of 2
Type (Secondary Buyout) 2 of 4
State (New Jersey) 1 of 1
Country (United States) 8 of 11
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-19 National Home Health Care

Scarsdale, New York, United States

National Home Health Care Corp., through its five subsidiaries, delivers home care services to address the practical, physical and emotional needs of its patients and their families.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 Crunch

New York, New York, United States

Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of 'No Judgments.' Crunch serves a fitness community for all types of people, with all types of goals, exercising all different ways; working out at the same place together. Crunch was founded in 1989 and is based in New York.

Sell -
SELLER
DESCRIPTION

MTN Capital Partners LLC is a lower middle-market private equity firm focused on investing in North American companies. MTN will consider both healthy as well as distressed companies. Sectors of interest include manufacturing, business services, consumer products, specialty retail, restaurants, distribution, energy services, automotive, food/beverage, healthcare, marketing services, chemicals, and communications. For healthy companies, MTN targets businesses with at least $10 million in revenues and $2 to $15 million of EBITDA, and for distressed situations. MTN Capital Partners was founded in 2003 and is based in New York City.


DEAL STATS #
Overall 2 of 4
Sector (Food) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 1 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-09 Orthotic Group

Markham, Ontario, Canada

Orthotic Group is a manufacturer and distributor of custom prescription orthotics, orthotic footwear and gait and rehabilitation markets in North America, Europe and Australia. Orthotic Group was founded in 1985 and is based in Markham, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Rita s

Trevose, Pennsylvania, United States

Rita's is an ice and frozen treat franchiser in the world with more than 600 stores. The company is aggressively expanding internationally with operating locations in the Philippines, Canada, and the Middle East. Rita's was founded in 1984 and is based in Trevose, Pennsylvania.

Buy -