M&A Deal Summary

Creation Gardens Acquires FreshPack Produce

On July 9, 2019, Creation Gardens acquired distribution company FreshPack Produce from Tonka Bay Equity Partners and Silver Peak Partners

Acquisition Highlights
  • This is Creation Gardens’ 1st transaction in the Distribution sector.
  • This is Creation Gardens’ 3rd transaction in the United States.
  • This is Creation Gardens’ 1st transaction in Colorado.

M&A Deal Summary
Date 2019-07-09
Target FreshPack Produce
Sector Distribution
Buyer(s) Creation Gardens
Sellers(s) Tonka Bay Equity Partners
Silver Peak Partners
Deal Type Add-on Acquisition

Target

FreshPack Produce

Denver, Colorado, United States
website
FreshPack Produce, Inc. is a distributor and value added repackager of fresh fruits and vegetables serving retail stores, food service organizations, and wholesale customers. FreshPack Produce was formed in 2000 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Creation Gardens

Louisville, Kentucky, United States

website

Category Company
Founded 1906
Sector Distribution
DESCRIPTION

Creation Gardens, Inc. is a wholesale food distributor. Creation Gardens, Inc. was established in 1906 and is headquartered in Louisville, Kentucky.

DEAL STATS #
Overall 3 of 3
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Colorado) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-31 Bluefin Seafood

Louisville, Kentucky, United States

Bluefin Seafood is a provider of seafood to tri-state area chefs and restaurants. Bluefin Seafood was founded in 1991 and is based in Louisville, Kentucky.

Buy -

Seller(S) 2

SELLER

Tonka Bay Equity Partners

Minnetonka, Minnesota, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 20 of 23
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 10 of 11
State (Colorado) 3 of 3
Country (United States) 20 of 23
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 AppleWhite Dental Partners

Dubuque, Iowa, United States

Applewhite Dental Partners is a dental services organization with locations in Iowa, Illinois, Wisconsin, and Minnesota. Over the past 10 years, Applewhite has remained at the forefront of the dental field and currently employs over 150 dentists and hygienists. Through a network of 35 offices, Applewhite offers comprehensive dental care to nearly 185,000 patients annually.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 E-Cloth

Kent, United Kingdom

E-Cloth is a manufacturer of environmentally-friendly microfiber cleaning products, distributing its products across direct-to-consumer, e-commerce, and retail channels. E-Cloth is based in Kent, United Kingdom.

Buy -
SELLER

Silver Peak Partners

website

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Silver Peak Partners is a private equity firm focused on small, profitable company acquisitions with $3 to $10 million of EBITDA. Silver Peak Partners looks to partner with management when pursuing investments and will consider opportunities in the infrastructure, environmental and recycling, aerospace and defense, niche/precision manufacturing, and agribusiness sectors. Silver Peak Partners was formed in 2008 and is based in Denver, Colorado.

DEAL STATS #
Overall 2 of 4
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 4
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-29 CG Environmental

Fort Worth, Texas, United States

CG Environmental is an emergency response and hazardous/non-hazardous materials remediation and waste disposal company. With five corporate locations in Dallas-Fort Worth, Houston, Austin, San Antonio, and Denver, CG Environmental has the capability to address a variety of situations, including chemical spills, gas spills, and biological hazards. CG Environmental is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-13 Intermountain Drilling Supply

Salt Lake City, Utah, United States

Intermountain Drilling Supply Corp. (IDS) is a distributor and manufacturer of consumable drilling supplies for customers serving the Mining, Construction, Environmental, Telecom, and Geothermal industries. Intermountain Drilling Supply is based in Salt Lake City, Utah.

Sell -
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