M&A Deal Summary

Weston Acquires Keystone Bakery Holdings

On September 24, 2010, Weston acquired food company Keystone Bakery Holdings from Keystone Capital for 185M USD

Acquisition Highlights
  • This is Weston’s 1st transaction in the Food sector.
  • This is Weston’s largest (disclosed) transaction.
  • This is Weston’s 1st transaction in the United States.
  • This is Weston’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2010-09-24
Target Keystone Bakery Holdings
Sector Food
Buyer(s) Weston
Sellers(s) Keystone Capital
Deal Type Add-on Acquisition
Deal Value 185M USD

Target

Keystone Bakery Holdings

Manchester, New Hampshire, United States
Keystone Bakery Holdings, LLC supplier of sweet baked goods to the in-store bakery, foodservice, and convenience store channels.

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Buyer(S) 1

Buyer

Weston

Toronto, Ontario, Canada

Category Company
Founded 1882
Sector Food
Employees220,000
Revenue 61.6B CAD (2024)
DESCRIPTION

Weston operates subsidiaries of food processing and distribution groups. It has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. Weston was incorporated in 1882 and is headquartered in Toronto, Canada.


DEAL STATS #
Overall 1 of 2
Sector: Food M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
State: New Hampshire M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-18 Yumi s Quality Foods Pty

Hallam, Australia

Yumi's Quality Foods Pty Ltd. produces mayonnaise, horseradishes spreads, aiolis, and smoked fish products. Yumi’s has grown by offering non-dairy and gluten-free dips, snacks, bites and smoked fish in a growing market for everyday consumption and entertaining. ​

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Seller(S) 1

SELLER

Keystone Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Keystone Capital is a private equity firm focused on acquiring family businesses, corporate divestitures, industry consolidations, and special situations. Keystone prefers lower middle-market, US-based businesses with EBITDA of $5 to $20 million. Target sectors include specialty manufacturing, business services/outsourcing, food processing and ingredients, publishing, instrumentation, optical components, and healthcare products/services. Keystone will not invest in start-ups, turnarounds, commodities, defense/government contractors, retail stores, or restaurants. Keystone Capital was formed in 1994 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 26
Sector: Food M&A 1 of 4
Type: Add-on Acquisition M&A Deals 4 of 15
State: New Hampshire M&A 1 of 1
Country: United States M&A 4 of 26
Year: 2010 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Craft Cast Co.

Jackson, Wisconsin, United States

Craft Cast Co., Inc. is a full-service supplier of investment castings using a variety of ferrous and non-ferrous alloys. Craft Cast offers complete engineering support to its network of blue-chip customers, as well as value-added machining and assembly services.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-31 Costume Gallery

Burlington, New Jersey, United States

Costume Gallery is a provider of dance costumes and accessories to studio owners, teachers and coaches. Costume Gallery strategically focuses on dancewear for recitals – the pinnacle showcase of students’ talents and education for the school year. The company designs, markets and manufactures recital costumes for 8,000+ dance studios around the country.

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