M&A Deal Summary

Apax Acquires Bazooka Candy Brands

On October 10, 2023, private equity firm Apax acquired food company Bazooka Candy Brands from Madison Dearborn Partners and The Tornante Company

Acquisition Highlights
  • This is Apax’s 3rd transaction in the Food sector.
  • This is Apax’s 101st transaction in the United States.
  • This is Apax’s 17th transaction in New York.

M&A Deal Summary

Date 2023-10-10
Target Bazooka Candy Brands
Sector Food
Buyer(s) Apax
Sellers(s) Madison Dearborn Partners
The Tornante Company
Deal Type Secondary Buyout
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

Bazooka Candy Brands

New York, New York, United States
Bazooka Candy Brands produces distinctive candy products including Bazooka bubble gum, Ring Pop, Push Pop, Baby Bottle Pop, and Juicy Drop Pop lollipops - as well as manage pre-paid digital and physical gift card solutions for consumer brands. Bazooka Candy Brands was founded in 1938 and is based in New York City.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 253 of 263
Sector (Food) 3 of 3
Type (Secondary Buyout) 62 of 66
State (New York) 17 of 18
Country (United States) 101 of 105
Year (2023) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-15 Go Global Travel

Tel Aviv, Israel

Go Global Travel is a global supplier of search engine technologies and related services for hotel booking for travel agents and tour operators. The company has offices across the world, significant activity in over 32 countries, and more than 4,000 travel agencies and clients. Go Global Travel was formed in 2000 and is based in Tel Aviv, Israel.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 OCS

Brescia, Italy

OCS is a provider of proprietary software solutions for the retail finance market. OCS has supported the main Italian banks and specialized financial institutions, acting as a trusted technology partner for complex and innovative IT solutions for both consumer credit and asset finance. OCS was founded in 1984 and is based in Brescia, Italy.

Buy -

Seller(S) 2

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 71 of 74
Sector (Food) 3 of 3
Type (Secondary Buyout) 14 of 14
State (New York) 7 of 7
Country (United States) 63 of 66
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Syntellis

Chicago, Illinois, United States

Syntellis provides innovative enterprise performance management software, data, and analytics solutions for healthcare, higher education, and financial institutions. Syntellis’ solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. Syntellis was formed in 2020 and is based in Chicago, Illinois.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 T2S Solutions

Belcamp, Maryland, United States

T2S is a provider of R&D, prototyping, engineering, integration, and technology products to mission critical programs for the U.S. Department of Defense (“DoD”), Intelligence Community (“IC”), and other U.S. Government Agencies. T2S was founded in 2010 and is based in Belcamp, Maryland.

Buy -
SELLER

The Tornante Company

Beverly Hills, California, United States

Investor


Category Venture Capital Firm
Founded 2005
Size Middle-Market
Type Sector Focused
DESCRIPTION

The Tornante Company is the private investment vehicle for Michael Eisner, former Chairman & CEO of Walt Disney. The Tornante Company focuses on investments in the media and entertainment sectors. The Tornante Company was formed in 2005 and is based in Beverly Hills, California.


DEAL STATS #
Overall 3 of 4
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 2 of 3
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 TaskRabbit

San Francisco, California, United States

TaskRabbit, Inc. is an online and mobile marketplace that allows users to outsource small jobs and tasks to others in their neighborhood. TaskRabbit was founded in 2008 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-14 Koji

West Hollywood, California, United States

Koji is a democratized platform that lets anyone create interactive experiences in augmented reality using your smartphone. Koji was established in 2016 and is based in West Hollywood, California.

Sell -