Consolidation • Food

LaSalle Capital Acquires Westminster Foods

On July 1, 2015, private equity firm LaSalle Capital acquired food company Westminster Foods

Acquisition Context
  • This is LaSalle Capital’s 6th transaction in the Food sector.
  • This is LaSalle Capital’s 48th transaction in the United States.
  • This is LaSalle Capital’s 2nd transaction in Vermont.

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M&A Deal Summary

Date July 1, 2015
Target Westminster Foods
Sector Food
Buyer(s) LaSalle Capital
Deal Type Consolidation

Target Company

Westminster Foods

Rutland, Vermont, United States
Westminster Foods is an all-natural food holding company created through the combination of Westminster Cracker Company, Gold’s Pure Foods, Dr. Lucy’s, LLC and H. Fox & Co. Westminster Cracker Company manufactures premium, all-natural oyster crackers and other snack crackers. Gold’s manufactures all-natural horseradish, mustards and other condiments and sauces. Lucy’s makes gluten-free, allergen-free baked goods and Fox makes chocolate and flavored syrups. Westminster Foods is based in Rutland, Vermont.
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Buyer Overview 1

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 Context for Buyer #
Overall 50 of 60
Sector: Food 6 of 8
Type: Consolidation 2 of 2
State: Vermont 2 of 2
Country: United States 48 of 58
Year: 2015 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 Westminster Cracker Co.

Rutland, Vermont, United States

Westminster Cracker Co., Inc. manufactures premium, all-natural oyster crackers, and other baked goods. Its products are served across the country in restaurants and other foodservice establishments and are also sold in retail outlets. Westminster Cracker was founded in 1828 and is based in Rutland, Vermont.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Paramount Building Solutions

Phoenix, Arizona, United States

Paramount Building Solutions is a provider of outsourced janitorial services to the retail industry. Paramount Building Solutions currently services over 1,700 individual store locations throughout the United States. Paramount Building Solutions was founded in 2003 and is based in Phoenix, Arizona.

Sell -