M&A Deal Summary

CPF Acquires Bellisio Foods

On November 17, 2016, CPF acquired food company Bellisio Foods from Centre Partners Management and Onex Falcon for 1.1B USD

Acquisition Highlights
  • This is CPF’s 1st transaction in the Food sector.
  • This is CPF’s largest (disclosed) transaction.
  • This is CPF’s 1st transaction in the United States.
  • This is CPF’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2016-11-17
Target Bellisio Foods
Sector Food
Buyer(s) CPF
Sellers(s) Centre Partners Management
Onex Falcon
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Morgan Stanley
Moelis & Co. (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Bellisio Foods

Duluth, Minnesota, United States
website
Bellisio Foods, Inc. is a manufacturer of branded and private label frozen foods.

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Buyer(S) 1

Buyer

CPF

Bangkok, Thailand

website

Category Company
Founded 1978
Sector Retail
Revenue 589.7B THB (2020)
DESCRIPTION

CPF-Seven Eleven Operates convenient store chain (franchise of US 7-11) in Thailand. Listed on Thailand Securities Exchange in October 2003. CPF was founded in 1978 and is based in Bangkok, Thailand.

DEAL STATS #
Overall 2 of 3
Sector (Food) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-16 Beijing Lotus Supermarket Chain Store

Beijing,, China

Beijing Lotus Supermarket Chain Store Co., Ltd. owns and operates supermarkets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 Westbridge Food Group

Malvern, United Kingdom

Westbridge Food Group Ltd. is a provider of meat and ready-made products to customers which are retails, food service, food manufacturers in the UK and countries in the European Union. Westbridge Food also engages in the development, sourcing and supply of products across many food groups on a world-wide basis. Westbridge Food Group Ltd. was established in 1998 and is headquartered in Malvern, UK.

Buy ฿2.6B

Seller(S) 2

SELLER

Centre Partners Management

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1986
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centre Partners is a private equity firm focused on investments in North American middle-market companies 'with strong growth prospects, predictable cash flows, and defensible competitive positions'. Prospective transactions include investments in privately owned companies, growth capital financings, management buyouts/buy-ins, divestitures, and take privates. The Firm's typical investment size is $10 to $50 million. Areas of interest include consumer products and services, cable/media, business services, energy, financial services, healthcare, industrial, and retail. Centre Partners was formed in 1986 and has offices in New York, New York and Los Angeles, California.

DEAL STATS #
Overall 24 of 31
Sector (Food) 3 of 4
Type (Add-on Acquisition) 11 of 11
State (Minnesota) 1 of 1
Country (United States) 23 of 30
Year (2016) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Bradford Health Services

Birmingham, Alabama, United States

Bradford Health Services is a provider of substance abuse treatment and recovery services. Bradford offers early intervention services, crisis response, intensive outpatient care, partial hospitalization, and residential care, inpatient detox, and transitional living and life skills programming. Bradford Health Services was formed in 1977 and is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-17 PrideSports

United States

PrideSports is a global manufacturer and provider of golf traction elements, golf tees and other golf related accessories.

Sell -
SELLER

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 25 of 35
Sector (Food) 2 of 2
Type (Add-on Acquisition) 11 of 15
State (Minnesota) 1 of 1
Country (United States) 25 of 35
Year (2016) 4 of 5
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 WL Plastics

Fort Worth, Texas, United States

WL Plastics, Inc. is a manufacturer of large-diameter polyethylene (“PE”) pipe for sale in the Rocky Mountains and throughout the western half of the United States. WL manufactures PE pipe from 1-24 inches in diameter but focuses its efforts on diameters of at least 4 inches. WL Plastics was founded in 2000 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Purchasing Power

Atlanta, Georgia, United States

Purchasing Power is a voluntary benefits provider for employers, whose services enable employees to purchase large ticket items such as computers, electronics, appliances, and furniture through a monthly payroll deduction. Purchasing Power was founded in 2001 and is based in Atlanta, Georgia.

Sell -
Mergr

Product

Company

Legal