M&A Deal Summary

Charoen Pokphand Foods Public Acquires Bellisio Foods

On November 17, 2016, Charoen Pokphand Foods Public Co. Ltd. acquired food company Bellisio Foods, Inc. from Centre Partners Management LLC and Falcon Investment Advisors LLC for 1.1B USD

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

M&A Deal Summary

Date 2016-11-17
Target Bellisio Foods, Inc.
Sector Food
Buyer(s) Charoen Pokphand Foods Public Co. Ltd.
Sellers(s) Centre Partners Management LLC
Falcon Investment Advisors LLC
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Morgan Stanley
Moelis & Co. (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison LLP (Legal)

Target

Bellisio Foods, Inc.

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

Charoen Pokphand Foods Public Co. Ltd.

Bangkok, Thailand

website


Category Company
Founded 1978
SectorRetail
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 Co., Ltd.

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 Ltd.

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 LLC

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1986
PE ASSETS 2.0B USD
SizeLarge
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 30
Sector (Food) 3 of 3
Type (Add-on Acquisition) 11 of 11
State (Minnesota) 1 of 1
Country (United States) 23 of 29
Year (2016) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Bradford Health Services LLC

Birmingham, Alabama, United States

Bradford Health Services, based in Birmingham, Alabama, is one of the largest and longest running providers of substance abuse treatment and recovery services in the Southeast. Through 30 individual clinical facilities, Bradford offers early intervention services, crisis response, intensive outpatient care, partial hospitalization and residential care, inpatient detox, and transitional living and life skills programming.

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

Falcon Investment Advisors LLC

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 2.7B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Falcon Investment Advisors is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $25 to $75 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. Falcon Investment Advisors was formed in 2000 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 24 of 30
Sector (Food) 2 of 2
Type (Add-on Acquisition) 11 of 14
State (Minnesota) 1 of 1
Country (United States) 24 of 30
Year (2016) 4 of 5
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 WL Plastics, Inc.

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 LLC

Atlanta, Georgia, United States

Purchasing Power LLC 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 LLC was founded in 2001 and is based in Atlanta, Georgia.

Sell -