M&A Deal Summary

Weston Acquires Keystone Bakery Holdings

On September 24, 2010, Weston acquired food company Keystone Bakery Holdings from Keystone Capital for 185M USD

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

M&A Deal Summary
Date 2010-09-24
Target Keystone Bakery Holdings
Sector Food
Buyer(s) Weston
Sellers(s) Keystone Capital
Deal Type Add-on Acquisition
Deal Value 185M USD

Target

Keystone Bakery Holdings

Manchester, New Hampshire, United States
website
Keystone Bakery Holdings, LLC supplier of sweet baked goods to the in-store bakery, foodservice, and convenience store channels.

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Buyer(S) 1

Buyer

Weston

Toronto, Ontario, Canada

website

Category Company
Founded 1882
Sector Food
Employees226,299
Revenue 57.0B CAD (2022)
DESCRIPTION

Weston is a Canadian public company. Its operates subsidiaries of food processing and distribution groups. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. Weston was founded in 1882 and is based in Toronto, Canada.

DEAL STATS #
Overall 1 of 2
Sector (Food) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (New Hampshire) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-18 Yumi s Quality Foods Pty

Hallam, Australia

Yumi's Quality Foods Pty Ltd. produces mayonnaise, horseradishes spreads, aiolis, and smoked fish products. Yumi’s has grown by offering non-dairy and gluten-free dips, snacks, bites and smoked fish in a growing market for everyday consumption and entertaining. ​

Buy -

Seller(S) 1

SELLER

Keystone Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 420M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Keystone Capital is a private equity firm focused on acquiring family businesses, corporate divestitures, industry consolidations, and special situations. Keystone prefers lower middle-market, US-based businesses with EBITDA of $3 to $15 million. Target sectors include specialty manufacturing, business services/outsourcing, food processing and ingredients, publishing, instrumentation, optical components, and healthcare products/services. Keystone will not invest in start-ups, turnarounds, commodities, defense/government contractors, retail stores, or restaurants. Keystone Capital was formed in 1994 and is based in Chicago, Illinois.

DEAL STATS #
Overall 4 of 23
Sector (Food) 1 of 4
Type (Add-on Acquisition) 4 of 13
State (New Hampshire) 1 of 1
Country (United States) 4 of 23
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Craft Cast

Jackson, Wisconsin, United States

Craft Cast Co., Inc. is a full-service supplier of investment castings using a variety of ferrous and non-ferrous alloys. Craft Cast offers complete engineering support to its network of blue-chip customers, as well as value-added machining and assembly services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-31 Costume Gallery

Burlington, New Jersey, United States

Costume Gallery is a provider of dance costumes and accessories to studio owners, teachers and coaches. Costume Gallery strategically focuses on dancewear for recitals – the pinnacle showcase of students’ talents and education for the school year. The company designs, markets and manufactures recital costumes for 8,000+ dance studios around the country.

Buy -
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