M&A Deal Summary

Apio Acquires GreenLine Foods

On April 23, 2012, Apio acquired food company GreenLine Foods from Riverside and New Canaan Funding

Acquisition Highlights
  • This is Apio’s 1st transaction in the Food sector.
  • This is Apio’s 1st transaction in the United States.
  • This is Apio’s 1st transaction in Ohio.

M&A Deal Summary

Date 2012-04-23
Target GreenLine Foods
Sector Food
Buyer(s) Apio
Sellers(s) Riverside
New Canaan Funding
Deal Type Add-on Acquisition
Advisor(s) Harris Williams (Financial)

Target

GreenLine Foods

Perrysburg, Ohio, United States
GreenLine Foods is the largest provider of fresh-trimmed, microwaveable packaged green beans in North America and manages the process from planting hybrid seeds through on-time delivery to customers.

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Buyer(S) 1

Buyer

Apio

Guadalupe, California, United States

Category Company
Founded 1979
Sector Food
DESCRIPTION

Apio, Inc. engages in processing, shipping, distributing, and exporting vegetables. It offers fresh-cut green beans, fruits, and vegetables.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2012 M&A 1 of 1

Seller(S) 2

SELLER

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 60 of 207
Sector: Food M&A 1 of 7
Type: Add-on Acquisition M&A Deals 23 of 86
State: Ohio M&A 3 of 11
Country: United States M&A 44 of 146
Year: 2012 M&A 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-03 Experient

Denver, Colorado, United States

Experient, with annual hotel bookings of over $200 million, is the leading independent meeting-planning company in North America. Its service bundle includes site selection, hotel contract negotiation, meeting planning, on-site meeting coordination, bill review, and housing and registration services for large meetings, conferences and trade shows.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Universal SmartComp

Washington, Pennsylvania, United States

Universal SmartComp is a nationwide physical medicine network that helps control the spiraling costs of physical medicine in workers? compensation. The company?s proprietary treatment benchmarks and pricing model control overutilization and expenses.

Sell -
SELLER

New Canaan Funding

New Canaan, Connecticut, United States

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.


DEAL STATS #
Overall 18 of 36
Sector: Food M&A 3 of 6
Type: Add-on Acquisition M&A Deals 9 of 13
State: Ohio M&A 1 of 4
Country: United States M&A 18 of 35
Year: 2012 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-02 McKenzie Taxidermy Supply

Granite Quarry, North Carolina, United States

McKenzie Taxidermy Supply is a manufacturer, sculptor, designer, and catalog retailer of taxidermy forms and supplies. McKenzie Taxidermy Supply was founded in 1973 and is based in Granite Quarry, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-26 L-Com

North Andover, Massachusetts, United States

L-Com, Inc. is a supplier of wired and wireless connectivity products. L-Com Global Connectivity offers a wide range of solutions and unrivaled customer service for the electronics and data communications industries.

Sell -