M&A Deal Summary

LaSalle Capital and Lightspring Capital Partners Acquire Great Lakes Potato Chips

On December 22, 2022, private equity firms LaSalle Capital and Lightspring Capital Partners acquired food company Great Lakes Potato Chips

Acquisition Highlights
  • This is LaSalle Capital’s 8th and Lightspring Capital Partners’ 1st transaction in the Food sector.
  • This is LaSalle Capital’s 58th and Lightspring Capital Partners’ 8th transaction in the United States.
  • This is LaSalle Capital’s 3rd and Lightspring Capital Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2022-12-22
Target Great Lakes Potato Chips
Sector Food
Buyer(s) LaSalle Capital
Lightspring Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Greenwich Capital Group (Financial)

Target

Great Lakes Potato Chips

Traverse, Michigan, United States
Great Lakes Potato Chips is a manufacturer of kettle cooked potato chips, with unique flavors and unmatched texture. Great Lakes Potato Chips serves a diverse set of customers, including leading foodservice distributors, grocery stores, and club stores while also selling direct to consumers from its website. Great Lakes Potato Chips was founded in 2009 and is based in Traverse, Michigan.

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Buyer(S) 2

Buyer

LaSalle Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 345M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LaSalle Capital Group is a private investment firm licensed as a SBIC. LaSalle looks to invest in lower middle-market Midwest-based businesses. LaSalle's areas of interest include consumer and industrial products, food processing, for-profit education, business services, packaging and healthcare. LaSalle will not invest in real estate, commodities, oil and gas, and businesses based on rapidly changing technology. Prospective companies typically have revenue between $20 and $100 million and EBITDA greater than $3 million. The Firm's investment horizon is five to seven years. LaSalle Capital Group was formed in 1984 and is based in Chicago, Illinois.


DEAL STATS #
Overall 60 of 60
Sector: Food M&A 8 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 43 of 43
State: Michigan M&A 3 of 3
Country: United States M&A 58 of 58
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 BOF

Aurora, Illinois, United States

BOF is a manufacturer of customized gravity-flow merchandising solutions serving the retail industry. BOF was founded in 1953 and is based in Aurora, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Fresh Origins

San Marcos, California, United States

Fresh Origins is a producer of Microgreens and Edible Flowers! In addition, the company grows Petite Greens, Tiny Veggies, and other unique specialties near San Diego. Fresh Origins was founded in 1995 and is based in San Marcos, California.

Sell -
Buyer
DESCRIPTION

Lightspring Capital Partners is a private equity firm that looks to acquire majority positions in profitable lower middle-market companies with $10 to $75 million of revenue. The Firm will consider opportunities throughout the US, but has a preference for businesses in the Midwest. Areas of interest include niche manufacturing, value-added distribution, business services, consumer products, transportation, and logistics. Lightspring Capital Partners is based Chicago, Illinois.


DEAL STATS #
Overall 8 of 12
Sector: Food M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 9
State: Michigan M&A 1 of 2
Country: United States M&A 8 of 12
Year: 2022 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 BedJet

Newport, Rhode Island, United States

BedJet is, at its heart, a sleep technology company. BedJet mission is to apply bleeding-edge engineering design, technology, and proven medical science into improving the sleep and bedroom comfort experience. BedJet is based in Newport, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-23 Devansoy

Rock City, Illinois, United States

Devansoy is a manufacturer of soy, oat, and pea protein ingredients. Devansoy was founded in 1990 and is based in Rock City, Illinois.

Buy -