M&A Deal Summary

Angelo Gordon s Private Equity Group and MTN Capital Partners Acquire Kings Food Markets

On April 3, 2006, private equity firms Angelo Gordon s Private Equity Group and MTN Capital Partners acquired food company Kings Food Markets from Marks & Spencer Group for 62M USD

Acquisition Highlights
  • This is Angelo Gordon s Private Equity Group’s 2nd and MTN Capital Partners’ 1st transaction in the Food sector.
  • This is Angelo Gordon s Private Equity Group’s 4th and MTN Capital Partners’ largest (disclosed) transaction.
  • This is Angelo Gordon s Private Equity Group’s 8th and MTN Capital Partners’ 2nd transaction in the United States.
  • This is Angelo Gordon s Private Equity Group’s 2nd and MTN Capital Partners’ 1st transaction in New Jersey.
Investment Fate
  • Kings Food Markets was sold to a consortium of financial buyers in 2016.

M&A Deal Summary
Date 2006-04-03
Target Kings Food Markets
Sector Food
Buyer(s) Angelo Gordon s Private Equity Group
MTN Capital Partners
Sellers(s) Marks & Spencer Group
Deal Type Divestiture
Deal Value 62M USD

Target

Kings Food Markets

Parsippany, New Jersey, United States
website
Kings Food Markets is a gourmet food retailer with an established reputation for high quality products and servicesPartnered with industry veteran and fundless sponsor to acquire chain of 24 stores from a UK parent. An upscale grocery store serving customers throughout New Jersey, New York and Connecticut, Kings provides a unique shopping experience paired with the highest quality foods. From locally sourced, organically grown produce, to fresh fruit, delicious meats to hand-selected cheeses from over 20 countries.

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Buyer(S) 2

Buyer

Angelo Gordon s Private Equity Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1988
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Angelo, Gordon's Private Equity Group is the private equity arm of asset manager Angele, Gordon & Co. AG's private equity group focuses on acquiring assets from financially distressed sellers or from larger corporations. Prospective transactions include forced sales, management-led buyouts, private company recapitalizations, corporate carve-outs, asset pool purchases, and other complex situations. The Group prefers control when considering opportunities and generally looks to commit $25 to $125 million of capital in transactions valued up to $500 million. Broad sectors of interest include specialty finance, retail, consumer, healthcare services/facilities, real estate, and business services. Angelo, Gordon's Private Equity group is based in New York City.

DEAL STATS #
Overall 10 of 22
Sector (Food) 2 of 2
Type (Divestiture) 2 of 3
State (New Jersey) 2 of 2
Country (United States) 8 of 18
Year (2006) 3 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Olympus Re Insurance

Hamilton, Bermuda

Olympus Re Insurance Co. Ltd. is a provider of catastrophe reinsurance along side of White Mountain Insurance GroupPartnered with experienced underwriting team and co-investor to realize benefits of off-balance sheet assets

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-10 White Hen Pantry

Lombard, Illinois, United States

White Hen Pantry, Inc. is a eading convenience store chain in mid-west with over 270 locations nation widePartnered with senior management and a distressed fund to acquire the business out of the Clark Retail bankruptcy

Sell -
Buyer

MTN Capital Partners

Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MTN Capital Partners LLC is a lower middle-market private equity firm focused on investing in North American companies. MTN will consider both healthy as well as distressed companies. Sectors of interest include manufacturing, business services, consumer products, specialty retail, restaurants, distribution, energy services, automotive, food/beverage, healthcare, marketing services, chemicals, and communications. For healthy companies, MTN targets businesses with at least $10 million in revenues and $2 to $15 million of EBITDA, and for distressed situations. MTN Capital Partners was founded in 2003 and is based in New York City.

DEAL STATS #
Overall 2 of 8
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 2 of 7
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-17 Sound Lounge

New York, New York, United States

Sound Lounge is an operator of an Audio Post-Production company providing audio post-production services for television and radio commercials. Sound Lounge was founded in 1998 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-12 Joliet Electric Motors

Joliet, Illinois, United States

Joliet Electric Motors is a provider of new and remanufactured AC and DC traction motors for the oil and gas drilling and exploration industries and other high power, large motor industrial applications. The Company also provides industrial motor repair services. Joliet Electric Motors was founded in 1954 and is based in Joliet, Illinois.

Buy -

Seller(S) 1

SELLER

Marks & Spencer Group

London, United Kingdom

website

Category Company
Founded 1884
Sector Retail
Employees65,000
Revenue 10.9B EUR (2022)
DESCRIPTION

Marks & Spencer Group operates as a multi-channel retailer and sells stylish, high quality, great value clothing, and home products, as well as outstanding quality food, responsibly sourced from around 2,000 suppliers globally. M&S was founded in 1884 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Thread

London, United Kingdom

Thread is a free online personal styling service for men, which uses a unique combination of human stylists and powerful algorithms to make it easy for men to dress well. On signing up, users fill in questionnaires and upload photos of themselves, which help the stylist and algorithm sort through millions of items to create the best outfits for that particular individual. Thread was formed in 2012 and is based in London, United Kingdom.

Buy -
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