M&A Deal Summary

Golden Gate Capital Acquires Bob Evans Restaurants

On January 24, 2017, private equity firm Golden Gate Capital acquired restaurant Bob Evans Restaurants from Bob Evans Farms for 565M USD

Acquisition Highlights
  • This is Golden Gate Capital’s 5th transaction in the Restaurants sector.
  • This is Golden Gate Capital’s 11th largest (disclosed) transaction.
  • This is Golden Gate Capital’s 78th transaction in the United States.
  • This is Golden Gate Capital’s 5th transaction in Ohio.

M&A Deal Summary
Date 2017-01-24
Target Bob Evans Restaurants
Sector Restaurants
Buyer(s) Golden Gate Capital
Sellers(s) Bob Evans Farms
Deal Type Divestiture
Deal Value 565M USD

Target

Bob Evans Restaurants

New Albany, Ohio, United States
Bob Evans Restaurants is a chain of family style restaurants operating approximately 500 family restaurants in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day. The Bob Evans Restaurants was founded in 1946 and is based in New Albany, Ohio.

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Buyer(S) 1

Buyer

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.

DEAL STATS #
Overall 87 of 112
Sector (Restaurants) 5 of 5
Type (Divestiture) 14 of 15
State (Ohio) 5 of 7
Country (United States) 78 of 100
Year (2017) 2 of 7
Size (of disclosed) 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Vercara

Herndon, Virginia, United States

Vercara is a provider of a purpose-built, global, cloud-based security platform that safeguards businesses’ online presence. Vercara’s mission-critical security portfolio includes best-in-class Domain Name System (DNS) and application and network security solutions (including DDoS and WAF). Vercara was formed in 1996 and is headquartered in Herndon, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-22 Cole-Parmer Instrument

Vernon Hills, Illinois, United States

Cole-Parmer Instrument is a global source of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables. Cole-Parmer is proven experts in the fields of peristaltic technologies, temperature measurement, and control, electrochemistry, water & air testing and chromatography. Cole-Parmer’s portfolio of unique industry-leading brands includes Masterflex, Environmental Express, and Traceable. Cole-Parmer’s products are used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental, and industrial end-markets. Cole-Parmer Instrument was founded in 1955 and is based in Vernon Hills, Illinois.

Buy -

Seller(S) 1

SELLER

Bob Evans Farms

New Albany, Ohio, United States
Category Company
Founded 1948
Sector Food
Employees7,471
Revenue 1.3B USD (2015)
DESCRIPTION

Bob Evans Farms, Inc. is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans and Owens brand names.

DEAL STATS #
Overall 2 of 2
Sector (Restaurants) 2 of 2
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Pineland Farms Potato

Mars Hill, Michigan, United States

Pineland Farms Potato Co. is an owns and operator of processing facility that transformed the thousands of acres of potatoes grown in the region from a commodity to a refrigerated ready-to-cook product.

Buy $115M
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