M&A Deal Summary

Brynwood Partners Acquires Hometown Food

On July 9, 2018, private equity firm Brynwood Partners acquired food company Hometown Food from J. M. Smucker for 375M USD

Acquisition Highlights
  • This is Brynwood Partners’ 9th transaction in the Food sector.
  • This is Brynwood Partners’ largest (disclosed) transaction.
  • This is Brynwood Partners’ 20th transaction in the United States.
  • This is Brynwood Partners’ 2nd transaction in Illinois.

M&A Deal Summary
Date 2018-07-09
Target Hometown Food
Sector Food
Buyer(s) Brynwood Partners
Sellers(s) J. M. Smucker
Deal Type Divestiture
Deal Value 375M USD

Target

Hometown Food

Chicago, Illinois, United States
website
Hometown Food Co. is a U.S. manufacturer and marketer of dry baking mixes, frozen pancakes, frozen waffles, frozen French toast, ready-to-spread frosting, flour, and other baking ingredients under the Pillsbury®, Funfetti®, Hungry Jack®, White Lily®, Jim Dandy®, Martha White®, Arrowhead Mills®, SunSpire®, De Wafelbakkers®, and Birch Benders® brands. Hometown Food Co. was formed in 2018 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Brynwood Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 2.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Brynwood Partners is a private equity firm that makes control investments in lower mid-market companies. The Firm has a preference for companies that are underperforming and/or undervalued, failed leveraged buy-outs or businesses that are under-financed and in need of an equity infusion. Target sectors include consumer products, light manufacturing in low capital intensive industries, service businesses and specialty retail companies. The Firm looks for opportunities valued between $50 and $500 million. Brynwood was formed in 1984 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 21 of 24
Sector (Food) 9 of 12
Type (Divestiture) 9 of 11
State (Illinois) 2 of 4
Country (United States) 20 of 23
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-20 Back to Nature Foods Company

Madison, Wisconsin, United States

Back to Nature Foods Company LLC is a food manufacturer. Back to Nature offers a wide range of products including, crackers and cookies, nuts and trail mixes, granola and macaroni and cheese. Back to Nature Foods Company LLC was established in 1960 and is based in Madison, Wisconsin.

Sell $163M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 SunnyD

Cincinnati, Ohio, United States

SunnyD is a producer of juice-based drinks in North America. The Company and brand was originally established in 1963 and is based in Cincinnati, Ohio.

Sell -

Seller(S) 1

SELLER

J. M. Smucker

Orrville, Ohio, United States

website

Category Company
Founded 1897
Sector Food
Employees7,300
Revenue 8.5B USD (2023)
DESCRIPTION

J. M. Smucker is a marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and natural foods products. J. M. Smucker was founded in 1897 and is based in Orrville, Ohio.

DEAL STATS #
Overall 2 of 8
Sector (Food) 2 of 7
Type (Divestiture) 2 of 8
State (Illinois) 1 of 1
Country (United States) 2 of 8
Year (2018) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-04 Ainsworth Pet Nutrition

Meadville, Pennsylvania, United States

Ainsworth Pet Nutrition LLC is an independent manufacturer and developer of premium pet food and treats under Company-owned as well as retailer brands primarily sold through the Food, Drug, and Mass ("FDM") channel.

Buy $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 The J.M. Smucker - Crisco Business

Orrville, Ohio, United States

The J.M. Smucker Co. - Crisco Business is a provider of oils and shortening with additional products include a cooking spray, various olive oils, and other cooking oils, including canola, corn, peanut, olive, sunflower, and blended oils.

Sell $550M
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