M&A Deal Summary

CTH Invest Acquires Nonni s

On July 24, 2024, CTH Invest acquired food company Nonni s from Vestar Capital Partners and HarbourVest Partners

Acquisition Highlights
  • This is CTH Invest’s 1st transaction in the Food sector.
  • This is CTH Invest’s 1st transaction in the United States.
  • This is CTH Invest’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2024-07-24
Target Nonni s
Sector Food
Buyer(s) CTH Invest
Sellers(s) Vestar Capital Partners
HarbourVest Partners
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Latham & Watkins (Legal)

Target

Nonni s

Tulsa, Oklahoma, United States
Nonni's is a manufacturer and marketer of artisanal cookies and other premium baked snacks. Nonni’s premium products are synonymous with artisanal, authentic, and Italian-inspired. Products are marketed under the Nonni’s, THINaddictives, and La Dolce Vita brand names, and sold through a diverse distribution platform that includes major customers in club, grocery, mass market, foodservice, and online retailing. Nonni's was founded in 1988 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

CTH Invest

Belgium

Category Company
Sector Food
DESCRIPTION

CTH Invest is a Ferrero-related Belgian Holding Company that owns iconic brands in the food and confectionery industries including Michel et Augustin in France, Burton’s Biscuit Company and Fox’s Biscuits in the UK, Kelsen Group in Denmark and Delacre Biscuits in Belgium.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 66 of 66
Sector (Food) 6 of 6
Type (Add-on Acquisition) 28 of 28
State (Oklahoma) 1 of 1
Country (United States) 53 of 53
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 Don

Woodridge, Illinois, United States

Don is a distributor of food service equipment and supplies to all types of food service businesses including independent restaurants, national chains, health care, hospitality, country clubs, schools and universities, government institutions, and food service management. Don was formed in 1921 and is based in Woodridge, Illinois.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 131 of 131
Sector (Food) 2 of 2
Type (Add-on Acquisition) 57 of 57
State (Oklahoma) 1 of 1
Country (United States) 83 of 83
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-14 Jana Bank

Bengaluru, India

Jana Bank is a non-banking financial services company that provides micro-loans to the urban poor, under a joint liability group model. Jana Bank also offers savings, pension, insurance products as well. Jana Bank was founded in 2006 and is based in Bengaluru, India.

Sell -