M&A Deal Summary

Kenex Holdings Acquires Bubbies

On January 4, 2017, private equity firm Kenex Holdings acquired food company Bubbies

Acquisition Highlights
  • This is Kenex Holdings’ 2nd transaction in the Food sector.
  • This is Kenex Holdings’ 3rd transaction in the United States.
  • This is Kenex Holdings’ 1st transaction in Hawaii.

M&A Deal Summary
Date 2017-01-04
Target Bubbies
Sector Food
Buyer(s) Kenex Holdings
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Cascadia Capital LLC (Financial)
Joyce Ziker Parkinson (Legal)

Target

Bubbies

Aiea, Hawaii, United States
Bubbies manufactures ultra-premium mochi ice cream. Mochi ice cream is a frozen novelty dessert made by enrobing ice cream in mochi (sweet sticky rice) with an ice cream filling. Bubbies also has a significant international footprint with distribution into France, Mexico, Norway, Russia, Saudi Arabia, Sweden, Switzerland, and the United Arab Emirates. Bubbies was founded in 1985 and is based in Aiea, Hawaii.

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Buyer(S) 1

Buyer

Kenex Holdings

Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Kenex Holdings LLC is a private equity firm specializing in investments in lower-middle-market companies. Areas of interest include food, beverage, agriculture, transportation & logistics, infrastructure, and manufacturing. Kenex will consider opportunities throughout the US, but has a special interest in Midwest-based companies. Prospective transaction situations include buyouts, consolidations, recapitalizations, growth capital financings, divestitures, and providing shareholder liquidity. Kenex Holdings LLC was established in 2013 and is based in Chicago, Illinois.

DEAL STATS #
Overall 4 of 4
Sector (Food) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Hawaii) 1 of 1
Country (United States) 3 of 3
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 Imperial Frozen Foods

Wake Forest, North Carolina, United States

Imperial Frozen Foods is a supplier of individually quick-frozen fruit. The company specializes in the global sourcing and packing of private brands for the retail and foodservice segments. Imperial is a supplier of Grade A conventional and organic frozen fruits to the retail, club, and foodservice segments. Imperial Frozen Foods was founded in 1957 and is based in Wake Forest, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Imperial Frozen Foods

Wake Forest, North Carolina, United States

Imperial Frozen Foods is a supplier of individually quick-frozen fruit. The company specializes in the global sourcing and packing of private brands for the retail and foodservice segments. Imperial is a supplier of Grade A conventional and organic frozen fruits to the retail, club, and foodservice segments. Imperial Frozen Foods was founded in 1957 and is based in Wake Forest, North Carolina.

Sell -
Mergr

Product

Company

Legal