M&A Deal Summary

GreenLine Foods Acquires HerbThyme Farms

On December 7, 2012, GreenLine Foods acquired food company HerbThyme Farms from Riverside and New Canaan Funding

Acquisition Highlights
  • This is GreenLine Foods’ 1st transaction in the Food sector.
  • This is GreenLine Foods’ 1st transaction in the United States.
  • This is GreenLine Foods’ 1st transaction in Ohio.

M&A Deal Summary

Date 2012-12-07
Target HerbThyme Farms
Sector Food
Buyer(s) GreenLine Foods
Sellers(s) Riverside
New Canaan Funding
Deal Type Add-on Acquisition

Target

HerbThyme Farms

Perrysburg, Ohio, United States
HerbThyme Farms is the largest grower and marketer of organic and conventional fresh herbs in the U.S. The company grows its products on over 600 acres in California, and ships more than five million pounds of fresh herbs each year from its farms and other certified sources.

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Buyer(S) 1

Buyer

GreenLine Foods

Perrysburg, Ohio, United States

Category Company
Founded 1985
Sector Food
DESCRIPTION

GreenLine Foods is the largest provider of fresh-trimmed, microwaveable packaged green beans in North America and manages the process from planting hybrid seeds through on-time delivery to customers.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2012 M&A 1 of 1

Seller(S) 2

SELLER

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 70 of 207
Sector: Food M&A 2 of 7
Type: Add-on Acquisition M&A Deals 26 of 86
State: Ohio M&A 4 of 11
Country: United States M&A 53 of 146
Year: 2012 M&A 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 WorkStride

New York, New York, United States

WorkStride is a facilitator of incentive, recognition and wellness programs. WorkStride provides a software platform that allows clients to administer, manage and track their programs to drive ROI. Using their proprietary universal gift card reward, participants in WorkStrides’ programs can select from hundreds of retailers and millions of products. WorkStride is based in New York city.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-11 H-D Advanced Manufacturing

Houston, Texas, United States

H-D Advanced Manufacturing is a manufacturer of precision-engineered products for mission-critical applications serving a variety of demanding end markets including aerospace & defense, oil & gas, industrial gearing and motion control, and more. H-D Advanced Manufacturing was founded in 2012 and is based in Houston, Texas.

Buy -
SELLER

New Canaan Funding

New Canaan, Connecticut, United States

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.


DEAL STATS #
Overall 21 of 36
Sector: Food M&A 5 of 6
Type: Add-on Acquisition M&A Deals 10 of 13
State: Ohio M&A 2 of 4
Country: United States M&A 21 of 35
Year: 2012 M&A 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Ideal Snacks

Liberty, New York, United States

Ideal Snacks Corp. is a producer and supplier of pellet-based puffed and baked snacks. Ideal Snacks manufactures crisps, chips, bars, and similar products for a growing list of branded and private label customers in the U.S., Canada, and Europe.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-20 DuBois Chemicals

Sharonville, Ohio, United States

DuBois Chemicals is a chemical maker whose products are used for cleaning in a wide variety of industries. DuBois provides quality solutions that improve efficiency, reduce environmental impact, and perform to the most demanding standards. DuBois Chemicals was founded in 1920 and is based in Sharonville, Ohio.

Sell -