Add-on Acquisition • Food

Circle Peak Capital, Quilvest Capital Partners and Prism Capital Exits Hill & Valley

On January 3, 2017, J&J Snack Foods invested in food company Hill & Valley from Circle Peak Capital, Quilvest Capital Partners and Prism Capital

Investment Context
  • This is J&J Snack Foods’ 6th transaction in the Food sector.
  • This is J&J Snack Foods’ 7th transaction in the United States.
  • This is J&J Snack Foods’ 2nd transaction in Illinois.

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Investment Summary

Date January 3, 2017
Target Hill & Valley
Sector Food
Investor(s) J&J Snack Foods
Sellers(s) Circle Peak Capital
Quilvest Capital Partners
Prism Capital
Deal Type Add-on Acquisition

Target Company

Hill & Valley

Rock Island, Illinois, United States
Hill & Valley, Inc. is a baker of sugar free and no-sugar added pies, cookies, and cakes.
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Investor Overview 1

Investor

J&J Snack Foods

Mount Laurel, New Jersey, United States

Category Company
Founded 1971
Sector Food
Employees5,000
Revenue 1.6B USD (2024)
DESCRIPTION

J&J Snack Foods is a provider of nutritional and affordable branded niche snack foods and beverages to food service and retail supermarket outlets. J&J Snack Foods was founded in 1971 and is based in Mount Laurel, New Jersey.


Deal Context for Investor #
Overall 7 of 10
Sector: Food 6 of 9
Type: Add-on Acquisition 6 of 9
State: Illinois 2 of 3
Country: United States 7 of 10
Year: 2017 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 PhillySwirl

Tampa, Florida, United States

PhillySwirl is a provider of frozen novelty products sold to both retail and food service locations throughout the United States and to Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-17 Labriola Baking Co.

Alsip, Illinois, United States

Labriola Baking Co. is a manufacturer of fresh and frozen artisan breads. Labriola Baking Co. was established in 1993 and is based in Alsip, Illinois.

Buy -

Seller Profiles 3

SELLER

Circle Peak Capital

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Circle Peak Capital is a private investment firm that makes control investments in mid-sized private companies. Circle Peak looks for opportunities in the consumer, industrial, and financial service sectors with low technology risk and high potential for internal growth. The Firm looks to invest alongside others to support management buyouts, acquisition platforms, and recapitalizations involving junior capital commitments. Circle Peak looks to commit up to $100 million in businesses with up to $500 million in revenue. Circle Peak does not invest in biotech, utilities, oil/gas, high technology, drugs, or transportation companies. Circle Peak Capital was formed in 2002 and is based in New York City.


Deal Context for Seller #
Overall 2 of 2
Sector: Food 1 of 1
Type: Add-on Acquisition 1 of 1
State: Illinois 1 of 1
Country: United States 2 of 2
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-01 Fischbein

Statesville, North Carolina, United States

Fischbein designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.

Sell -
SELLER

Quilvest Capital Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1972
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Quilvest Capital Partners is the private equity investment arm of asset management firm Quilvest. Quilvest Capital Partners invests in private equity and debt funds as well as makes direct investments. The direct investment group looks for opportunities in the US, Europe, and 'opportunistically' in Asia with a preference for buyout, growth capital, and venture transactions. Quilvest Capital Partners will consider both minority and majority positions. Quilvest Capital Partners was established in 1972 and is based Paris.


Deal Context for Seller #
Overall 47 of 69
Sector: Food 2 of 4
Type: Add-on Acquisition 17 of 27
State: Illinois 2 of 2
Country: United States 22 of 35
Year: 2017 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-06 Deltek

Herndon, Virginia, United States

Deltek, Inc. is a provider of enterprise applications software designed specifically for project-focused businesses. The Company's software applications enables organizations to automate mission-critical business processes around the engagement, execution and delivery of projects. Deltek is based in Herndon, Virginia.

Sell $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-01 Creative Extruded Products

Tipp City, Ohio, United States

Creative Extruded Products is a provider of plastic and rubber extrusions for the North American and International automotive glass market.

Buy -
SELLER

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 26 of 30
Sector: Food 2 of 2
Type: Add-on Acquisition 15 of 18
State: Illinois 6 of 7
Country: United States 26 of 30
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-20 Eze Trucking

Rialto, California, United States

Eze Trucking provides specialty heavy and over-dimensional freight logistics services predominantly to customers in the infrastructure market. Eze Trucking was founded in 1972 and is based in Rialto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 Vandor

Salt Lake City, Utah, United States

Vandor LLC is a designer and distributor that creates licensed home products including drinkware, sculpted collectibles, kitchenware, and home décor. Vandor introduces hundreds of new designs annually for distribution in the United States and Canada. Founded in 1957, they have over 60 years of industry experience. Based in Salt Lake City, Utah, with offices in China and the Philippines, Vandor has built an organization dedicated to exceptional quality in products and service.

Sell -