M&A Deal Summary

Kerry Acquires Island Oasis

On November 6, 2015, Kerry acquired beverage company Island Oasis from Farragut Capital Partners and TSG Consumer Partners

Acquisition Highlights
  • This is Kerry’s 3rd transaction in the Beverages sector.
  • This is Kerry’s 9th transaction in the United States.
  • This is Kerry’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2015-11-06
Target Island Oasis
Sector Beverages
Buyer(s) Kerry
Sellers(s) Farragut Capital Partners
TSG Consumer Partners
Deal Type Add-on Acquisition

Target

Island Oasis

Walpole, Massachusetts, United States
Island Oasis, Inc. is a manufacturer and distributor of frozen and aseptic beverage products and related equipment which are sold throughout the United States and in many popular resort locations abroad.

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Buyer(S) 1

Buyer

Kerry

Tralee, Ireland
Category Company
Founded 1972
Sector Food
Employees21,000
Revenue 8.0B EUR (2023)
DESCRIPTION

Kerry together with its subsidiaries, develops, manufactures, and delivers technology based ingredients, flavors, and integrated solutions for the food, beverage, and pharmaceutical industries in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. Kerry was founded in 1972 and is based in Tralee, Ireland.

DEAL STATS #
Overall 12 of 19
Sector (Beverages) 3 of 3
Type (Add-on Acquisition) 11 of 16
State (Massachusetts) 1 of 1
Country (United States) 9 of 13
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 Biothera - Wellmune Business

Eagan, Minnesota, United States

Biothera - Wellmune Business is a natural food, beverage and supplement ingredient clinically proven to strengthen the immune system - improving health and wellness.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-25 Fleischmann s Vinegar

Cerritos, California, United States

Fleischmann's Vinegar Co. Inc. is a USDA certified all-natural producer of specialty ingredients that further support Kerry’s taste and clean label strategies across a number of End Use Markets. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.

Buy $350M

Seller(S) 2

SELLER

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.

DEAL STATS #
Overall 15 of 25
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 5 of 11
State (Massachusetts) 1 of 1
Country (United States) 15 of 25
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-28 PWNHealth

New York, New York, United States

PWNHealth is a provider of lab connectivity, compliance, and patient outreach solutions for health and wellness, telemedicine, diagnostic labs, and payer markets. PWN services all 50 states and Puerto Rico with telehealth and telegenetic services. PWN model enables safe and easy access to diagnostic testing, ensuring clinical validity, utility, quality consumer education, access to clinicians, and the ability to implement national programs seamlessly. PWNHealth is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-30 Tri-Cities Restaurant Group

Kingsport, Tennessee, United States

Tri-Cities Restaurant Group is a multi-unit Wendy's franchisee operating in northeast Tennessee and southwest Virginia.

Buy -
SELLER

TSG Consumer Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 9.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

TSG Consumer Partners (formerly known as The Shansby Group) is a specialist private equity firm focused on acquiring and building mid-sized, branded consumer companies. TSG invests in private and publicly traded companies, and will consider both majority and minority equity positions. Specific sectors of interest include apparel, beauty, e-commerce, personal care, retail, food/beverages, restaurants, health/wellness, household products, and pet care. TSG looks for companies with sales between $20 million and $1.5 billion and can invest commit up to $500 million per transaction. TSG Consumer Partners was formed in 1987 and is based in San Francisco, California.

DEAL STATS #
Overall 25 of 35
Sector (Beverages) 3 of 4
Type (Add-on Acquisition) 19 of 28
State (Massachusetts) 1 of 1
Country (United States) 24 of 33
Year (2015) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-06 Stumptown Coffee Roasters

Portland, Oregon, United States

Stumptown Coffee Roasters, Inc. is a specialty coffee company.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-23 DenTek Oral Care

Maryville, Tennessee, United States

DenTek Oral Care, Inc. is a developer and marketer of innovative oral care products.

Sell $225M
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