M&A Deal Summary

Kelso Acquires Ferraro Foods

On April 6, 2021, private equity firm Kelso acquired distribution company Ferraro Foods from Kainos Capital

Acquisition Highlights
  • This is Kelso’s 5th transaction in the Distribution sector.
  • This is Kelso’s 62nd transaction in the United States.
  • This is Kelso’s 4th transaction in New Jersey.

M&A Deal Summary

Date 2021-04-06
Target Ferraro Foods
Sector Distribution
Buyer(s) Kelso
Sellers(s) Kainos Capital
Deal Type Secondary Buyout
Advisor(s) Wells Fargo Securities
Piper Sandler & Co. (Financial)
Winston & Strawn (Legal)

Target

Ferraro Foods

Piscataway, New Jersey, United States
Ferraro Foods is a foodservice distributor in the Eastern U.S., delivering food products, value, and reliable service primarily to the Italian restaurant and pizzeria segment. Ferraro Foods is based in Piscataway, New Jersey.

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Buyer(S) 1

Buyer

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 73 of 81
Sector (Distribution) 5 of 5
Type (Secondary Buyout) 18 of 22
State (New Jersey) 4 of 4
Country (United States) 62 of 70
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-31 Individual FoodService

Bell, California, United States

Individual FoodService distributes paper, plastic, packaging, food, janitorial, sanitation and smallware products to independent restaurants, quick-service restaurants, healthcare facilities, hospitality establishments, country clubs, schools, universities, government institutions, wholesalers, food processors, and food service management institutions. Individual FoodService is based in Bell, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Nivel Parts & Manufacturing

Jacksonville, Florida, United States

Nivel Parts & Manufacturing is an independent manufacturer and distributor of aftermarket golf car replacement parts and accessories. Nivel Parts & Manufacturing was founded in 1968 and is based in Jacksonville, Florida.

Sell -

Seller(S) 1

SELLER

Kainos Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Focused
DESCRIPTION

Kainos Capital is a private equity firm focused on the food and consumer products sector. Kainos targets manufacturers and marketers of food products, as well as other consumer products in the household and personal care industries and over-the-counter health and nutritional products sectors. The Firm's target investment size is $50 to $150 million in a company with an EBITDA of $10 to $80 million. Kainos Capital is based in Dallas, Texas.


DEAL STATS #
Overall 14 of 19
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 4 of 7
State (New Jersey) 4 of 4
Country (United States) 13 of 18
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 NutriSystem

Fort Washington, Pennsylvania, United States

NutriSystem is a provider of dieters with a simple, effective, and convenient weight loss program. NutriSystem weight loss program consists of prepackaged, calorie-controlled, shelf-stable food packages containing a complete week of meals and snacks, as well as online and telephonic counseling and support for dieters. NutriSystem was formed in 1971 and is based in Fort Washington, Pennsylvania.

Buy $575M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 Olde Thompson

Oxnard, California, United States

Olde Thompson is a manufacturer and global supplier of private label and branded spices and spice-related housewares. Olde Thompson is headquartered in Oxnard, California.

Sell $950M