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 102nd 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 254 of 266
Sector: Food M&A 3 of 3
Type: Secondary Buyout M&A Deals 63 of 67
State: New York M&A 17 of 19
Country: United States M&A 102 of 107
Year: 2023 M&A 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 31.0B 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 73 of 79
Sector: Food M&A 3 of 3
Type: Secondary Buyout M&A Deals 14 of 14
State: New York M&A 7 of 7
Country: United States M&A 64 of 69
Year: 2023 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 NextGen Healthcare

Irvine, California, United States

NextGen Healthcare is a provider of healthcare technology solutions. NextGen is reimagining ambulatory healthcare with solutions that enable high-performing practices to create healthier communities. NexGen partners with medical, behavioral and oral health providers in their journey toward whole person health and value-based care. NextGen Healthcare was founded in 1974 and is based in Irvine, California.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-31 Shaw Development

Bonita Springs, Florida, United States

Shaw Development is a designer, manufacturer, and assembler of sensors, fluid management systems and related components primarily for diesel exhaust fluid applications. Shaw provides production and aftermarket components for OEMs in the construction, agricultural, heavy truck and other industrial/transportation end markets. Shaw Development was established in 1944 and is based in Bonita Springs, Florida.

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 M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2023 M&A 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 -