M&A Deal Summary

CD&R Acquires High Ridge Brands

On May 17, 2016, private equity firm CD&R acquired consumer products company High Ridge Brands from Brynwood Partners for 415M USD

Acquisition Highlights
  • This is CD&R’s 2nd transaction in the Consumer Products sector.
  • This is CD&R’s 29th largest (disclosed) transaction.
  • This is CD&R’s 33rd transaction in the United States.
  • This is CD&R’s 1st transaction in Connecticut.
Investment Fate
  • High Ridge Brands went bankrupt in 2019.
  • High Ridge Brands was sold to a financial buyer in 2020.

M&A Deal Summary
Date 2016-05-17
Target High Ridge Brands
Sector Consumer Products
Buyer(s) CD&R
Sellers(s) Brynwood Partners
Deal Type Secondary Buyout
Deal Value 415M USD
Advisor(s) William Blair (Financial)
Holland & Knight LLP (Legal)

Target

High Ridge Brands

Stamford, Connecticut, United States
website
High Ridge Brands provides consumers with high-quality personal care products at a great value. High Ridge has a portfolio of nine trusted brands, serving primarily North American personal cleaning and hair care markets, including Zest®, White Rain®, VO5®, Coast®, LA Looks®, Zero Frizz®, Rave®, Salon Grafix®, and Thicker Fuller Hair®. High Ridge Brands was formed in 2010 and is based in Stamford, Connecticut.

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Buyer(S) 1

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 45 of 90
Sector (Consumer Products) 2 of 4
Type (Secondary Buyout) 15 of 25
State (Connecticut) 1 of 2
Country (United States) 33 of 65
Year (2016) 2 of 5
Size (of disclosed) 29 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 CHC Group

Richmond, British Columbia, Canada

CHC Group Ltd. provides commercial helicopter services to the offshore oil and gas industry worldwide. The company operates in two segments, Helicopter Services and Heli-One.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-26 US Foods

Rosemont, Illinois, United States

US Foods is a food distributor to restaurants, healthcare and hospitality facilities, government operations and educational institutions. The Company offers more than 350,000 national brand products and our own high-quality private label items ranging from meats to produce to frozen foods. US Foods was founded in 2007 and is based in Rosemont, Illinois.

Sell -

Seller(S) 1

SELLER

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 13 of 18
Sector (Consumer Products) 3 of 3
Type (Secondary Buyout) 5 of 7
State (Connecticut) 3 of 3
Country (United States) 12 of 17
Year (2016) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-14 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 Lightlife Foods

Turners Falls, Massachusetts, United States

Lightlife Foods, Inc. is a brand with product lines that include vegetarian-based burgers, hotdogs and other meatless frozen and refrigerated items.

Sell $140M
Mergr

Product

Company

Legal