M&A Deal Summary

The Chefs Warehouse Acquires Michael s Finer Meats

On August 13, 2012, The Chefs Warehouse acquired distribution company Michael s Finer Meats from Sorenson Capital for 54M USD

Acquisition Highlights
  • This is The Chefs Warehouse’s 3rd transaction in the Distribution sector.
  • This is The Chefs Warehouse’s 2nd largest (disclosed) transaction.
  • This is The Chefs Warehouse’s 4th transaction in the United States.
  • This is The Chefs Warehouse’s 1st transaction in Ohio.

M&A Deal Summary

Date 2012-08-13
Target Michael s Finer Meats
Sector Distribution
Buyer(s) The Chefs Warehouse
Sellers(s) Sorenson Capital
Deal Type Add-on Acquisition
Deal Value 54M USD

Target

Michael s Finer Meats

Columbus, Ohio, United States
website
Michael's Finer Meats LLC (Michael's Finer Meats & Seafoods) is a specialty processor and distributor of meats and seafood headquartered in the Midwest. The company focuses on white-linen restaurants, country clubs, caterers, hotels, and others nationwide who value the highest quality proteins and exceptional service. Michael's is the nation's premier center-of-the-plate specialist and prides itself on supplying excellent and consistent products every time to every customer.

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Buyer(S) 1

Buyer

The Chefs Warehouse

Ridgefield, Connecticut, United States

website


Category Company
Founded 1985
Sector Food
Employees2,221
Revenue 1.1B USD (2020)
DESCRIPTION

The Chefs' Warehouse is a provider of food products in the United States. The company servers to independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Warehouse was founded in 1985 and is based in Ridgefield, Connecticut.


DEAL STATS #
Overall 4 of 18
Sector (Distribution) 3 of 9
Type (Add-on Acquisition) 4 of 18
State (Ohio) 1 of 2
Country (United States) 4 of 17
Year (2012) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-30 Praml International

Las Vegas, Nevada, United States

Praml International Ltd. is a specialty foods importer and foodservice distributor located in Las Vegas, NV, which services customers in Las Vegas, NV and Reno, NV.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-02 Queensgate Food Group

Cincinnati, Ohio, United States

Queensgate Food Group LLC is a distributor stocking more than 8,000 items, including a full line of produce, fresh meats and poultry, dairy, dry grocery, and frozen foods.

Buy -

Seller(S) 1

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 8 of 28
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 4 of 15
State (Ohio) 1 of 1
Country (United States) 7 of 27
Year (2012) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Bamboo HR

Lindon, Utah, United States

Bamboo HR LLC is a provider of cloud-based HR software to the SMB market. The company offers a suite of software tools that simplifies the way modern HR professionals manage their data and processes. Bamboo HR was founded in 2008 and is based in Lindon, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-30 AtTask

Lehi, Utah, United States

AtTask, Inc. provides software-as-a-service enterprise work management solutions. Its product AtTask is useful for the entire project management process, including request management, work planning, work execution, work communication, performance management, and work intelligence.

Buy -