M&A Deal Summary

AgraGlobal Foods Acquires Culinary Standards

On October 10, 2008, AgraGlobal Foods acquired food company Culinary Standards from North American Funds

Acquisition Highlights
  • This is AgraGlobal Foods’ 1st transaction in the Food sector.
  • This is AgraGlobal Foods’ 1st transaction in the United States.
  • This is AgraGlobal Foods’ 1st transaction in Kentucky.

M&A Deal Summary
Date 2008-10-10
Target Culinary Standards
Sector Food
Buyer(s) AgraGlobal Foods
Sellers(s) North American Funds
Deal Type Add-on Acquisition

Target

Culinary Standards

Louisville, Kentucky, United States
Culinary Standards producer of cooked-then-frozen prepared foods for the foodservice industry including hot delis and the national school lunch program. Principal product lines include entrees, side dishes, sauces and soups.

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Buyer(S) 1

Buyer

AgraGlobal Foods

Chile
Category Company
Sector Food
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1

Seller(S) 1

SELLER

North American Funds

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

North American Funds LLC (Formerly North American Business Development Companies LLC) are a collection of investment vehicles focused on acquiring or making significant investments in smaller and lower middle-market growth-oriented companies. North American targets profitable companies generating sales of $5 to $40 million and EBITDA of $500K to $5 million. Sectors of interest include manufacturing, food/beverage, medical services, consumer products/services, distribution, business services, education, and financial services. The fund partnerships are managed by the North American Business Development Companies. North American Funds was formed in 1989 and maintains offices in Chicago, Illinois and Fort Lauderdale, Florida.

DEAL STATS #
Overall 7 of 7
Sector (Food) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Kentucky) 1 of 1
Country (United States) 7 of 7
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 Valley Meats

Coal Valley, Illinois, United States

Valley Meats is a mid-sized meat processor and packer that specialize in selling to three major segments in the food industry; Retail, Food Service, and Military. Valley Meats is based in Coal Valley, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-06 Polymer

Rockland, Massachusetts, United States

Polymer is a niche manufacturer of low-volume, close-tolerance plastic partners and assemblies for a diverse nationwide group of blue-chip companies primarily in three niche market segments — medical equipment and instrumentation; firearms components and accessories; and defense, security, and aerospace. Polymer was established in 1979 and is based in Rockland, Massachusetts.

Buy -
Mergr

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