M&A Deal Summary

Insignia Capital Group Acquires Chocolate Works

On September 1, 2023, private equity firm Insignia Capital Group acquired food company Chocolate Works from Chicago Capital Partners

Acquisition Highlights
  • This is Insignia Capital Group’s 4th transaction in the Food sector.
  • This is Insignia Capital Group’s 12th transaction in the United States.
  • This is Insignia Capital Group’s 2nd transaction in New York.

M&A Deal Summary

Date 2023-09-01
Target Chocolate Works
Sector Food
Buyer(s) Insignia Capital Group
Sellers(s) Chicago Capital Partners
Deal Type Secondary Buyout

Target

Chocolate Works

Freeport, New York, United States
Chocolate Works is a manufacturer and purveyor of niche fine/artisan chocolates for personal and corporate gifts. Its offerings include truffles, chocolate dipped or covered strawberries, pretzels, nuts, Oreos/cookies and specialty chocolate molded products. Chocolate Works was founded in 1973 and is based in Freeport, New York.

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Buyer(S) 1

Buyer

Insignia Capital Group

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Insignia Capital Group is a private equity firm focused on growth-oriented, lower middle-market companies throughout North America. The Firm targets profitable businesses with EBITDA greater than $5 million. Prospective transaction situations include management buyouts, corporate carve-outs, public-to-private transactions, build-ups, recapitalizations, growth equity investment,s and strategic minority investments. Insignia Capital was Insignia Capital Group was established in 2011 and is headquartered in Walnut Creek, California.


DEAL STATS #
Overall 12 of 13
Sector: Food M&A 4 of 4
Type: Secondary Buyout M&A Deals 3 of 3
State: New York M&A 2 of 2
Country: United States M&A 12 of 13
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-25 Dualboot Partners

Charlotte, North Carolina, United States

Dualboot Partners is a provider of digital product design and software development services to start-ups and fortune 500 companies. Dualboot Partners was founded in 2018 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. Market Performance Group was formed in 2002 and is headquartered in Princeton Junction, New Jersey.

Sell -

Seller(S) 1

DESCRIPTION

Chicago Capital Partners is a private equity firm focused on majority investments in profitable, lower middle-market companies with $2 to $10 million of EBITDA. The Firm seeks US-based companies with strong margins, sustainable cash flows, and opportunities for growth. Sectors of interest include business services, consumer products, distribution, food, beverage, and niche manufacturing. Chicago Capital Partners was formed in 2011 and is based in Highland Park, Illinois.


DEAL STATS #
Overall 3 of 3
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Nickerson

Bay Shore, New York, United States

Nickerson is a distributor of K-12 school furniture and equipment. Nickerson distributes products such as cabinetry, tables and chairs, science laboratory equipment, and gymnasium lockers and bleachers. Nickerson was founded in 1952 and is based in Bay Shore, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-03 ABC Stone

Brooklyn, New York, United States

ABC Stone is a provider of luxury high-end, non-commoditized natural stone offerings, cladding, and construction products to residential and commercial clients. The Company is a full-service sourcing and distribution partner that sells its products through its relationships within the architect and design community, and via its showrooms, warehouse, and virtually through its digital stone catalogue. ABC Stone is based in Brooklyn, New York.

Buy -