Add-on Acquisition • Consumer Products

PMI Worldwide Acquires Formation Brands

On March 8, 2016, PMI Worldwide acquired consumer products company Formation Brands from Renovo Capital

Acquisition Context
  • This is PMI Worldwide’s 1st transaction in the Consumer Products sector.
  • This is PMI Worldwide’s 1st transaction in the United States.
  • This is PMI Worldwide’s 1st transaction in California.

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M&A Deal Summary

Date March 8, 2016
Target Formation Brands
Sector Consumer Products
Buyer(s) PMI Worldwide
Sellers(s) Renovo Capital
Deal Type Add-on Acquisition

Target Company

Formation Brands

South San Francisco, California, United States
Formation Brands LLC is a developer and marketer of specialty gift housewares including tableware, barware and accessories to national and independent retailers.
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Buyer Overview 1

Buyer

PMI Worldwide

Seattle, Washington, United States

Category Company
Founded 1983
Sector Consumer Products
DESCRIPTION

PMI Worldwide is a designer, manufacturer, and marketer of innovative food and beverage container solutions. PMI Worldwide was founded in 1983 and is based in Seattle, Washington.


Deal Context for Buyer #
Overall 1 of 1
Sector: Consumer Products 1 of 1
Type: Add-on Acquisition 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2016 1 of 1

Seller Profile 1

SELLER

Renovo Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Renovo Capital is a private equity firm focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-driven change. Renovo Capital will consider opportunities throughout North America and looks to commit $10 to $50 million per transaction. Sectors of interest include niche manufacturing, business services, energy services, technology, and e-commerce. Renovo Capital was formed in 2009 and is based in Dallas, Texas.


Deal Context for Seller #
Overall 2 of 8
Sector: Consumer Products 1 of 1
Type: Add-on Acquisition 1 of 4
State: California 1 of 3
Country: United States 2 of 8
Year: 2016 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-28 Renwood Mills

Newton, North Carolina, United States

Renwood Mills sells flour and other baking products in the Southeastern United States for use in food service, food production, and in retail channels under the Southern Biscuit and Tenda-Bake brands. Renwood Mills was founded in 1935 and is based in Newton, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-13 Dimont & Associates

Dallas, Texas, United States

DIMONT is a provider of technology-enabled solutions in specialty insurance claims processing and collateral loss mitigation management for mortgage and auto lenders, servicers and investors. Dimont & Associates was founded in 1996 and is based in Dallas, Texas.

Buy -