Secondary Buyout • Food

Entrepreneurial Equity Partners Acquires Murry s

On July 13, 2023, private equity firm Entrepreneurial Equity Partners acquired food company Murry s from Encore Consumer Capital

Acquisition Context
  • This is Entrepreneurial Equity Partners’ 10th transaction in the Food sector.
  • This is Entrepreneurial Equity Partners’ 8th transaction in the United States.
  • This is Entrepreneurial Equity Partners’ 1st transaction in Pennsylvania.

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M&A Deal Summary

Date July 13, 2023
Target Murry s
Sector Food
Buyer(s) Entrepreneurial Equity Partners
Sellers(s) Encore Consumer Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams (Financial)
Brownstein (Legal)

Target Company

Murry s

Lebanon, Pennsylvania, United States
Murry's is a manufacturer of frozen French toast sticks and bites that are sold into the private label retail and food service channels. The company is a family-owned business trusted name in food manufacturing with French toast products distributed nationwide. Murry's was founded in 1948 and is based in Lebanon, Pennsylvania.
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Buyer Overview 1

DESCRIPTION

Entrepreneurial Equity Partners is a private equity firm focused on opportunities in the food sector. Specific areas of interest include food/beverage brands, private label/contract manufacturing, foodservice, and consumer packaged goods. The Firm prefers control situations in businesses with minimum revenues of $50 million where it can commit at least $25 million of equity capital. Entrepreneurial Equity Partners is headquartered in Chicago, Illinois.


Deal Context for Buyer #
Overall 10 of 12
Sector: Food 10 of 10
Type: Secondary Buyout 3 of 3
State: Pennsylvania 1 of 1
Country: United States 8 of 10
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-16 Furlani Foods

Mississauga, Ontario, Canada

Furlani Foods is a producer of specialty garlic breads for distribution to north america’s retailers and foodservice operators. Furlani Foods was founded in 1984 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-03 Salm Partners

Denmark, Wisconsin, United States

Salm Partners is a manufacturer of fully cooked sausages and premium hot dogs in the United States serving a blue-chip customer base that includes industry-leading brands. Utilizing a differentiated, co-extrusion, cook-in-package manufacturing process, Salm offers better-tasting, clean label products with extended shelf lives relative to sausages produced utilizing conventional methods. Salm Partners was founded in 2004 and is based in Denmark, Wisconsin.

Sell -

Seller Profile 1

SELLER

Encore Consumer Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 600M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Encore Consumer Capital is a specialist private equity firm focused on the food and consumer products industries. Specific areas of interest include food and beverage, health and beauty care, pet, automotive aftermarket, infant and children's products, and leisure products. Encore prefers companies in revenues of $10 - $100 million. It looks to invest $5 - $40 million. Encore generally invests in control situations but will consider select minority investments. Encore will not invest in restaurant-only or retail-only companies. Encore operates in partnership with Encore Associates, a strategic advisory firm. Encore Consumer Capital was formed in 2005 and is based in San Francisco.


Deal Context for Seller #
Overall 22 of 24
Sector: Food 9 of 11
Type: Secondary Buyout 4 of 4
State: Pennsylvania 1 of 1
Country: United States 21 of 23
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-21 KYLA

Hood River, Oregon, United States

KYLA is a brand of alcoholic kombucha that was developed as a low-calorie, low-sugar, gluten-free, shelf-stable, and craft alcoholic beverage with a refreshing taste profile. KYLA is based in Hood River, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-21 Ancient Harvest

Golden, Colorado, United States

Ancient Harvest is a provider of gluten-free grains, plant-based protein, and organic wheat free grains. Ancient Harvest portfolio spans a wide range of organic, non-GMO, plant-based foods including multiple varieties of quinoa, pasta, mac and cheese, and polenta – all made from gluten-free ‘power’ ingredients ranging from quinoa to beans and lentils. Ancient Harvest was formed in 1983 and is based in Golden, Colorado.

Sell -