M&A Deal Summary

Fyffes Acquires Highline Produce

On April 1, 2016, Fyffes acquired distribution company Highline Produce from Peak Rock Capital for 145M CAD

Acquisition Highlights
  • This is Fyffes’ 1st transaction in the Distribution sector.
  • This is Fyffes’ largest (disclosed) transaction.
  • This is Fyffes’ 1st transaction in Canada.
  • This is Fyffes’ 1st transaction in Ontario.

M&A Deal Summary
Date 2016-04-01
Target Highline Produce
Sector Distribution
Buyer(s) Fyffes
Sellers(s) Peak Rock Capital
Deal Type Add-on Acquisition
Deal Value 145M CAD

Target

Highline Produce

Leamington, Ontario, Canada
Highline Produce Ltd. is a producer and distributor of mushrooms. The Company operates four state-of-the-art production facilities and a distribution center, where it produces, packages, and distributes varieties of fresh white, mini bella, portobella, and exotic mushrooms for the retail and food service end markets.

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Buyer(S) 1

Buyer

Fyffes

Dublin, Ireland
Category Company
Sector Distribution
Revenue 985M GBP (2015)
DESCRIPTION

Fyffes is an importer and distributor of tropical produce. Company primary activities are the production, procurement, shipping, ripening, distribution, and marketing of bananas, pineapples, and melons. Fyffes is based in Dublin, Ireland.

DEAL STATS #
Overall 1 of 2
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2016) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-08 All Seasons Mushrooms

Langley, British Columbia, Canada

All Seasons, which is based in British Columbia, is one of the largest mushroom producers in Western Canada. It is a fully integrated producer operating from four facilities, of which three are owned and one is leased. Its geographic reach will be highly complementary to that of Highline Produce.

Buy CA$59M

Seller(S) 1

SELLER

Peak Rock Capital

Austin, Texas, United States
Category Private Equity Firm
Founded 2012
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peak Rock Capital is a generalist private equity firm that makes debt and equity investments in middle-market companies. The Firm targets businesses with $50 million to $1 billion in revenue and can commit up to $500 million per transaction. Sectors of interest include business services, consumer products, distribution, energy services, healthcare, industrials, manufacturing, media, and metals. Peak Rock will consider a variety of transaction situations - from leveraged buyouts and recapitalizations to special situations. Peak Rock is based in Austin, Texas.

DEAL STATS #
Overall 2 of 17
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 8
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2016) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-25 Berner Food & Beverage

Dakota, Illinois, United States

Berner Food & Beverage is a manufacturer of high quality shelf-stable, dairy-based food products and beverages. The Company serves a diverse customer base of consumer packaged goods companies, emerging brands and private label retailers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-26 Diamond Crystal Brands

Savannah, Georgia, United States

Diamond Crystal Brands is a manufacturer and distributor of customized foodservice solutions, including sauces,dressings, condiments, drink mixes, salt, pepper, sweeteners and other food and beverage products. DCB has a diverse customer base of blue chip foodservice distributors, national restaurant chains and convenience stores.

Buy -
Mergr

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