M&A Deal Summary

J. M. Smucker Acquires Ainsworth Pet Nutrition

On April 4, 2018, J. M. Smucker acquired food company Ainsworth Pet Nutrition from L Catterton Partners for 1.9B USD

Acquisition Highlights
  • This is J. M. Smucker’s 9th transaction in the Food sector.
  • This is J. M. Smucker’s 4th largest (disclosed) transaction.
  • This is J. M. Smucker’s 11th transaction in the United States.
  • This is J. M. Smucker’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2018-04-04
Target Ainsworth Pet Nutrition
Sector Food
Buyer(s) J. M. Smucker
Sellers(s) L Catterton Partners
Deal Type Add-on Acquisition
Deal Value 1.9B USD

Target

Ainsworth Pet Nutrition

Meadville, Pennsylvania, United States
Ainsworth Pet Nutrition LLC is an independent manufacturer and developer of premium pet food and treats under Company-owned as well as retailer brands primarily sold through the Food, Drug, and Mass ("FDM") channel.

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Buyer(S) 1

Buyer

J. M. Smucker

Orrville, Ohio, United States
Category Company
Founded 1897
Sector Food
Employees7,300
Revenue 8.5B USD (2023)
DESCRIPTION

J. M. Smucker is a marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and natural foods products. J. M. Smucker was founded in 1897 and is based in Orrville, Ohio.

DEAL STATS #
Overall 11 of 12
Sector (Food) 9 of 10
Type (Add-on Acquisition) 7 of 8
State (Pennsylvania) 1 of 1
Country (United States) 11 of 12
Year (2018) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-02 Eagle Foods

Orrville, Ohio, United States

Eagle Foods is a domestic manufacturer of canned milk, popcorn and other salty snack products. Eagle operates in two stable and growing categories within canned milk and sweetened condensed milk markets. Additionally, Eagle manufactures ready-to-eat popcorn under the brands G.H. Cretors and Popcorn, Indiana, as well as private label popcorn and other salty snack products for a diverse set of retail customers. Eagle Foods is based in Orrville, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-09 Hometown Food

Chicago, Illinois, United States

Hometown Food is a manufacturer and marketer of dry baking mixes, frozen pancakes, frozen waffles, frozen French toast, ready-to-spread frosting, flour, and other baking ingredients under the Pillsbury®, Funfetti®, Hungry Jack®, White Lily®, Jim Dandy®, Martha White®, Arrowhead Mills®, SunSpire®, De Wafelbakkers®, and Birch Benders® brands. Hometown Food was formed in 2018 and is based in Chicago, Illinois.

Sell $375M

Seller(S) 1

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 49 of 101
Sector (Food) 6 of 10
Type (Add-on Acquisition) 20 of 45
State (Pennsylvania) 2 of 3
Country (United States) 45 of 75
Year (2018) 1 of 7
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-14 Airxcel

Wichita, Kansas, United States

Airxcel is a designer, manufacturer, and marketer of climate control systems for a variety of specialty end markets including recreational vehicles, telecommunication enclosures, and commercial/industrial applications. The company employees find opportunities to express creativity and innovation, enhance education and be productive team members in a supportive work environment. It conducts its business with respect and regard for its employees, customers, suppliers, financial partners, and communities in which it operates. Airxcel was formed in 1991 and is based in Wichita, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-05 Video Equipment Rentals

Glendale, California, United States

Video Equipment Rentals is a provider of audio/visual equipment rental and services. Clients in TV, cinema, live music, sports and the corporate world rely on VER for rental equipment. The Company has operations on six continents and is headquartered in Glendale, California.

Sell -
Mergr

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