M&A Deal Summary

Frontenac Acquires Monterey Bay Spice

On January 11, 2021, private equity firm Frontenac acquired consumer products company Monterey Bay Spice

Acquisition Highlights
  • This is Frontenac’s 2nd transaction in the Consumer Products sector.
  • This is Frontenac’s 66th transaction in the United States.
  • This is Frontenac’s 12th transaction in California.

M&A Deal Summary
Date 2021-01-11
Target Monterey Bay Spice
Sector Consumer Products
Buyer(s) Frontenac
Deal Type Recapitalization

Target

Monterey Bay Spice

Watsonville, California, United States
Monterey Bay Spice Co. is a processor and distributor of botanicals, herbs, teas, essential oils, seasonings and spices. Products are sold online, in bulk, and through co-pack agreements into the nutraceutical, food & beverage, and health & beauty end markets. The Company’s website HERBCO.com has been delivering premium botanicals, herbs, teas, essential oils, seasonings, spices, and much more. Monterey Bay Spice Co. was founded in 1997, and headquartered in Watsonville, California.

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Buyer(S) 1

Buyer

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.

DEAL STATS #
Overall 69 of 79
Sector (Consumer Products) 2 of 2
Type (Recapitalization) 23 of 29
State (California) 12 of 12
Country (United States) 66 of 75
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Newterra

Brockville, Ontario, Canada

Newterra is a provider of decentralized water and wastewater treatment solutions to the global mining, oil & gas, and private development markets. Newterra was founded in 1863 and is based in Brockville, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-03 Crofter’s Food

Seguin, Ontario, Canada

Crofter’s Food is a manufacturer of private label and branded fruit spreads, which are primarily sold throughout North America. The Company’s fruit spreads come in a variety of flavors including strawberry, raspberry, blackberry, and blueberry. Crofter’s Food was founded in 1989 and is based in Seguin, Ontario.

Buy -
Mergr

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