M&A Deal Summary

Leonard Green & Partners and CCMP Capital Acquire Jetro Cash & Carry

On January 1, 2004, private equity firms Leonard Green & Partners and CCMP Capital acquired retailer Jetro Cash & Carry

Acquisition Highlights
  • This is Leonard Green & Partners’ 3rd and CCMP Capital’s 6th transaction in the Retail sector.
  • This is Leonard Green & Partners’ 11th and CCMP Capital’s 48th transaction in the United States.
  • This is Leonard Green & Partners’ 1st and CCMP Capital’s 5th transaction in New York.

M&A Deal Summary

Date 2004-01-01
Target Jetro Cash & Carry
Sector Retail
Buyer(s) Leonard Green & Partners
CCMP Capital
Deal Type Recapitalization

Target

Jetro Cash & Carry

College Point, New York, United States
Jetro is a wholesale cash and carry in the United States, serving grocery retailers and foodservice operators. The company operates two different warehouse formats, Restaurant Depot and Jetro Cash & Carry. Jetro Cash & Carry is based in College Point, New York.

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Buyer(S) 2

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 11 of 101
Sector (Retail) 3 of 19
Type (Recapitalization) 1 of 8
State (New York) 1 of 12
Country (United States) 11 of 93
Year (2004) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-17 Big 5

El Segundo, California, United States

Big 5 is a sporting goods retailer. Big 5 provides a complete product offering in a traditional sporting goods store format that averages approximately 11,000 square feet. Big 5 was incorporated in 1955 and is based in El Segundo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-26 CPI

Palo Alto, California, United States

CPI is a designer and manufacturer of electronic components, subsystems and antenna systems for the communications, government, medical and scientific markets. CPI provides technology solutions used in the generation, transmission and reception of signals used in both commercial (broadband internet, in‐flight connectivity) and government (earth observation, satellite communications) applications. CPI was founded in 1995 and is based in Palo Alto, California.

Sell $300M
Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 55 of 97
Sector (Retail) 6 of 7
Type (Recapitalization) 2 of 4
State (New York) 5 of 5
Country (United States) 48 of 75
Year (2004) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Mindspark Interactive Network

White Plains, New York, United States

iWon provides consumers and advertisers with information retrieval products across a diverse portfolio of Web sites, portals and desktop search applications. iWon was acquired by Ask Jeeves in 2004.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-05 International Car Wash Group

Centennial, Colorado, United States

International Car Wash Group is a large local car wash conglomerate washing millions of cars across North America and Europe. The Company was established in 1965 and is headquartered in Centennial, Colorado.

Buy £350M