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Buyout (LBO, MBO, MBI) • Food

Sun Capital Partners Acquires Flavor 1st Growers & Packers

On July 1, 2013, private equity firm Sun Capital Partners acquired food company Flavor 1st Growers & Packers

Acquisition Context
  • This is Sun Capital Partners’ 9th transaction in the Food sector.
  • This is Sun Capital Partners’ 80th transaction in the United States.
  • This is Sun Capital Partners’ 5th transaction in North Carolina.

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M&A Deal Summary
Date July 1, 2013
Target Flavor 1st Growers & Packers
Sector Food
Buyer(s) Sun Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Flavor 1st Growers & Packers

Mills River, North Carolina, United States
Flavor 1st Growers & Packers is a grower, packager and distributor of branded and private-label fresh produce. With origins dating back to 1798, the company provides vine ripened tomatoes and a full line of vegetables that are sold to large grocery chains and wholesale buyers. Flavor 1st maintains a commitment to providing the highest quality product on the market, with focus on freshness, new product innovation and connecting customers to the farm. The company ships from Florida to Boston and as far west as the Rocky Mountains.
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Buyer Overview 1

Buyer

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.

Deal Context for Buyer #
Overall 116 of 172
Sector: Food 9 of 10
Type: Buyout (LBO, MBO, MBI) 56 of 75
State: North Carolina 5 of 6
Country: United States 80 of 118
Year: 2013 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-18 Johnny Rockets

Lake Forest, California, United States

The Johnny Rockets Group, Inc. is an international restaurant franchise that offers high quality, innovative menu items including items including Certied Angus Beef® cooked-to-order hamburgers, Boca Burger®, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes and malts. Johnny Rockets was established in 1986 and is based in Lake Forest, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 Harry s Fresh Foods

Portland, Oregon, United States

Harry's Fresh Foods is a provider of consumers and foodservice partners with a range of fresh and prepared foods, including soups, chilis, stews, side dishes, entrées, sauces, gravies, and desserts.

Sell -

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