M&A Deal Summary

Golden Gate Capital Acquires Bob Evans Restaurants

On January 24, 2017, private equity firm Golden Gate Capital acquired restaurant Bob Evans Restaurants from Bob Evans Farms for 565M USD

Acquisition Highlights
  • This is Golden Gate Capital’s 5th transaction in the Restaurants sector.
  • This is Golden Gate Capital’s 11th largest (disclosed) transaction.
  • This is Golden Gate Capital’s 76th transaction in the United States.
  • This is Golden Gate Capital’s 5th transaction in Ohio.

M&A Deal Summary

Date 2017-01-24
Target Bob Evans Restaurants
Sector Restaurants
Buyer(s) Golden Gate Capital
Sellers(s) Bob Evans Farms
Deal Type Divestiture
Deal Value 565M USD

Target

Bob Evans Restaurants

New Albany, Ohio, United States
website
Bob Evans Restaurants is a chain of family style restaurants operating approximately 500 family restaurants in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day. Headquartered in Columbus, OH, the Bob Evans Restaurants team comprises over 26,000 employees.

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Buyer(S) 1

Buyer

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 85 of 102
Sector (Restaurants) 5 of 5
Type (Divestiture) 14 of 14
State (Ohio) 5 of 7
Country (United States) 76 of 92
Year (2017) 1 of 5
Size (of disclosed) 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-14 NeuStar

Reston, Virginia, United States

NeuStar is a global information services provider driving the connected world forward with trusted, holistic identity resolution. The company serves many of the world’s brands to grow and guard their businesses with the most complete understanding of how to connect people, places, and things. The combination of Neustar’s unique, accurate and real-time identity system and its cloud-based workflow solutions empower businesses to make actionable, precise, and valuable decisions across marketing, risk, IT/security, network & operations departments. As the current sole provider to the U.S. Number Portability Administration Center, Neustar also facilitates the routing of all telephone call and text messages in the U.S. NeuStar was formed in 1996 and is based in Sterling, Virginia.

Buy $2.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-22 Cole-Parmer Instrument Company

Vernon Hills, Illinois, United States

Cole-Parmer Instrument Company, Inc. is a global source of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables. Cole-Parmer is proven experts in the fields of peristaltic technologies, temperature measurement, and control, electrochemistry, water & air testing and chromatography. Cole-Parmer’s portfolio of unique industry-leading brands includes Masterflex®, Environmental Express™, and Traceable®. Cole-Parmer’s products are used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental, and industrial end-markets.

Buy -

Seller(S) 1

SELLER

Bob Evans Farms

New Albany, Ohio, United States

website


Category Company
Founded 1948
Sector Food
Employees7,471
Revenue 1.3B USD (2015)
DESCRIPTION

Bob Evans Farms, Inc. is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans and Owens brand names.


DEAL STATS #
Overall 2 of 2
Sector (Restaurants) 2 of 2
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Pineland Farms Potato

Mars Hill, Michigan, United States

Pineland Farms Potato Co. is an owns and operator of processing facility that transformed the thousands of acres of potatoes grown in the region from a commodity to a refrigerated ready-to-cook product.

Buy $115M