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  6. Allied Capital Acquires Hot Stuff Foods

M&A Deal Summary

Allied Capital Acquires Hot Stuff Foods

On March 8, 2006, Allied Capital acquired food company Hot Stuff Foods from Kohlberg & Company

Acquisition Highlights
  • This is Allied Capital’s 1st transaction in the Food sector.
  • This is Allied Capital’s 1st transaction in the United States.
  • This is Allied Capital’s 1st transaction in South Dakota.

M&A Deal Summary
Date 2006-03-08
Target Hot Stuff Foods
Sector Food
Buyer(s) Allied Capital
Sellers(s) Kohlberg & Company
Deal Type Secondary Buyout

Target

Hot Stuff Foods

Sioux Falls, South Dakota, United States
Hot Stuff Foods, L.L.C. (“Hot Stuff”) is a provider of branded foodservice products to convenience stores and other foodservice outlets. The Company designed and installed in-store kitchens and service points for its customers at individual retail locations and distributed a broad line of food products for on-site preparation under long-term supply agreements.

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Buyer(S) 1

Buyer

Allied Capital

Category Private Equity Firm
Founded 1958
Size Mega
Type Sector Agnostic
DESCRIPTION

Allied Capital Corp. was a publicly-traded business development company focused on providing debt and equity capital for leveraged buyouts, acquisitions and restructurings of established businesses. Allied Capital was established in 1958 and ceased investing in 2009 when it was acquired by Ares Capital.

DEAL STATS #
Overall 1 of 2
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: South Dakota M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2006 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-21 Huddle House

Atlanta, Georgia, United States

Huddle House, Inc. is a full-service family restaurant chain, is well-known for serving “Any Meal. Huddle House restaurants feature moderately priced food and beverage items, served during all day parts with full table service.

Buy $124M

Seller(S) 1

SELLER

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 9 of 48
Sector: Food M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 20
State: South Dakota M&A 1 of 1
Country: United States M&A 8 of 47
Year: 2006 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Nevamar Company

Odenton, Maryland, United States

Nevamar manufactured a broad array of decorative laminates and panel products catering to the commercial and residential furniture, fixtures and cabinet markets, as well as laminated foam-based panels used in the graphic arts industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-10 AGY

Aiken, South Carolina, United States

AGY is a manufacturer of advanced glass fibers and other specialty materials used in applications such as aircraft laminates, ballistic armor, roofing membranes, architectural fabrics, and electronics. AGY was founded in 2004 and is based in Aiken, South Carolina.

Buy $268M
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