Merger • Food

Aquamar Acquires LM Foods

On August 22, 2017, Aquamar acquired food company LM Foods from Salt Creek Capital

Acquisition Context
  • This is Aquamar’s 1st transaction in the Food sector.
  • This is Aquamar’s 1st transaction in the United States.
  • This is Aquamar’s 1st transaction in New Jersey.

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M&A Deal Summary

Date August 22, 2017
Target LM Foods
Sector Food
Buyer(s) Aquamar
Sellers(s) Salt Creek Capital
Deal Type Merger

Target Company

LM Foods

Carteret, New Jersey, United States
LM Foods LLC is a producer of frozen, private label surimi seafood, offering premium, select and value products and also selling premium products under the Classic Bay brand name. LM Foods was founded in 1990 and is based in Carteret, New Jersey.
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Buyer Overview 1

Buyer

Aquamar

Rancho Cucamonga, California, United States

Category Company
Sector Food
DESCRIPTION

Aquamar is a producer of both frozen and refrigerated products, most of which are sold under the Aquamar brand name. Aquamar is a manufacturer of shred style surimi in North America, selling to restaurant/foodservice customers and major retailers. Aquamar is based in Rancho Cucamonga, California.


Deal Context for Buyer #
Overall 1 of 2
Sector: Food 1 of 2
Type: Merger 1 of 1
State: New Jersey 1 of 1
Country: United States 1 of 2
Year: 2017 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 Shining Ocean

Sumner, Washington, United States

Shining Ocean is a surimi seafood business under the Kanimi brand that provides Seafarer and Crab Smart Natural products. The company is also known for introducing innovative new products into the marketplace. Among its innovations are the first branded retail product fortified with Omega 3 fish oil, the first retail product to use no phosphate surimi with all-natural flavors, and the first to color surimi with lycopene, made from tomatoes. Shining Ocean was formed in 1985 and is based in Sumner, Washington.

Buy -

Seller Profile 1

SELLER

Salt Creek Capital

Woodside, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Salt Creek Capital is a private equity firm focused on the lower middle-market. SCC targets growth oriented businesses (organic or through acquisitions) with the potential to lead their respective markets. Prospective companies are generally profitable ($1 million+ of EBITDA) and generate $5 to $150 million of revenue. Sectors of interest include business services, energy services, distribution, franchising, logistics, and specialty finance. Target transaction situations include recapitalizations, successions, growth capital financings, shareholder liquidity needs, MBOs, and divestitures. Salt Creek Capital is based in Woodside, California.


Deal Context for Seller #
Overall 7 of 20
Sector: Food 1 of 1
Type: Merger 1 of 1
State: New Jersey 1 of 1
Country: United States 6 of 19
Year: 2017 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 Aquamar

Rancho Cucamonga, California, United States

Aquamar is a producer of both frozen and refrigerated products, most of which are sold under the Aquamar brand name. Aquamar is a manufacturer of shred style surimi in North America, selling to restaurant/foodservice customers and major retailers. Aquamar is based in Rancho Cucamonga, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Corporate Caterers

Miami, Florida, United States

Corporate Caterers is a franchisor that provides catering services to a variety of customers throughout the United States. Corporate Caterers was founded in 1997 and is based in Miami, Florida.

Buy -

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