M&A Deal Summary

Kenex Holdings Acquires Bubbies Ice Cream

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

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 Arizona.
Investment Fate
  • Bubbies Ice Cream was sold to a strategic buyer in 2025.

M&A Deal Summary

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

Target

Bubbies Ice Cream

Phoenix, Arizona, United States
Bubbies Ice Cream offers mochi ice cream and frozen novelty desserts, including mini ice cream cookie sandwiches. Bubbies Ice Cream was founded in 1985 and is based in Phoenix, Arizona.

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Buyer(S) 1

DESCRIPTION

Kenex Holdings 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 was established in 2013 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 4
Sector: Food M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 3
State: Arizona M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2017 M&A 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 -