M&A Deal Summary

Bounty Acquires Tegel

On April 27, 2018, Bounty acquired food company Tegel from Affinity Equity Partners and Intermediate Capital Group for 438M NZD

Acquisition Highlights
  • This is Bounty’s 1st transaction in the Food sector.
  • This is Bounty’s 0th largest (disclosed) transaction.
  • This is Bounty’s 1st transaction in New Zealand.

M&A Deal Summary
Date 2018-04-27
Target Tegel
Sector Food
Buyer(s) Bounty
Sellers(s) Affinity Equity Partners
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 438M NZD

Target

Tegel

Auckland, New Zealand
Tegel manufactures a range of other processed meat products, including sausages, for which it is the country's second-largest producer. It has a network of 38 breeder farms, three hatcheries, 93 farms, three processing plants, and five distribution centers. Tegel was established in 1961 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Bounty

Caloocan City, Philippines
Category Company
Sector Food
DESCRIPTION

Bounty is the second-largest poultry integrator in the Philippines which operates the largest company-owned Broiler Complex in the country. Bounty Fresh Chicken is a brand under Bounty Fresh Food Inc. and Bounty Agro Ventures Inc. that supplies dressed chicken to various hotels, restaurants, institutional food companies (HRI) as well as supermarkets in the Philippines. Bounty is based in Caloocan City, Philippines.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (New Zealand) 1 of 1
Year (2018) 1 of 1

Seller(S) 2

SELLER

Affinity Equity Partners

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Affinity Equity Partners is an independent private equity firm focused on traditional buyout and control oriented investments across Asia-Pacific valued up to US$1 billion. Sectors of interest include businesses in consumer-related goods and services, value-added manufacturing, healthcare, financial services and business services. Affinity prefers companies with an established track record as well as proven, consistent earning power and cash flow generating ability. Affinity will not consider investments in real estate, biotechnology, tobacco, oil and gas exploration, and weaponry development and sales. Affinity Equity Partners was spun out of UBS Capital Asia Pacific in 2004 and is headquartered in Hong Kong.

DEAL STATS #
Overall 17 of 24
Sector (Food) 4 of 5
Type (Add-on Acquisition) 14 of 14
Country (New Zealand) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-23 Trimco Group

Herning, Denmark

Trimco Group is a global supplier of brand identity products for international fashion and sports brands. Trimco Group is the combined force of CLOTEX, LABELON, and A-TEX with more than 1,700 employees in 22 countries, serving more than 740 brand owners and 8,600 manufacturers around the world. Trimco Group was established in 1978 and is based in Herning, Denmark.

Buy $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 ScotPac

Sydney, Australia

ScotPac works with business owners that need financing to support expansion, boost working capital and daily cash flow, and make acquisitions. Its debtor and trade finance services range from corporate credit lines and bad debt protection to credit lines for imports and multi-level supply chain finance solutions. ScotPac was established in 1988 and is based in Sydney, Australia.

Buy AU$612M
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 194 of 217
Sector (Food) 9 of 11
Type (Add-on Acquisition) 58 of 67
Country (New Zealand) 2 of 2
Year (2018) 3 of 6
Size (of disclosed) 56 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-13 Exclusive Group

Boulogne Billancourt, France

Exclusive Group is a provider of value-added services and technologies (“VAST”) for cybersecurity and cloud migration. Exclusive Group was founded in 2003 and is based in Boulogne Billancourt, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-03 Nadella

Milan, Italy

Nadella is a producer of linear guides and rollers for industrial motion applications. Nadella was founded in 1963 and is based in Milan, Italy.

Buy -
Mergr

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