M&A Deal Summary

Quirch Acquires Colorado Boxed Beef

On October 28, 2020, Quirch acquired food company Colorado Boxed Beef from Altamont Capital Partners

Acquisition Highlights
  • This is Quirch’s 1st transaction in the Food sector.
  • This is Quirch’s 2nd transaction in the United States.
  • This is Quirch’s 1st transaction in Florida.

M&A Deal Summary
Date 2020-10-28
Target Colorado Boxed Beef
Sector Food
Buyer(s) Quirch
Sellers(s) Altamont Capital Partners
Deal Type Merger
Advisor(s) Jefferies (Financial)

Target

Colorado Boxed Beef

Lakeland, Florida, United States
Colorado Boxed Beef is a distributor of refrigerated and frozen products. Company supply to customers with the finest beef, pork, poultry, lamb, veal, seafood, cheese, vegetables, lunch meat, and a variety of dry products. Colorado Boxed Beef was founded in 1975 and is based in Lakeland, Florida.

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Buyer(S) 1

Buyer

Quirch

Coral Gables, Florida, United States
Category Company
Founded 1967
Sector Distribution
DESCRIPTION

Quirch is a distributor of food products in the Southeastern U.S., Latin America, and the Caribbean, with a customer list that includes independent and chain supermarkets, foodservice distributors, processors and manufacturers, cruise lines, and restaurants. Quirch was formed in 1967 and is based in Coral Gables, Florida.

DEAL STATS #
Overall 2 of 2
Sector (Food) 1 of 1
Type (Merger) 1 of 1
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-11 Butts Foods

Jackson, Tennessee, United States

Butts Foods, Inc. is a fresh protein distributor operates five distribution facilities throughout Tennessee, Alabama, and Mississippi. Butts Foods was founded in 1935 and is based in Jackson, Tennessee.

Buy -

Seller(S) 1

SELLER

Altamont Capital Partners

Palo Alto, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Altamont Capital is a private equity group focused on acquiring US-based middle-market companies. The Firm has a particular interest in companies undergoing a transition, either operational or strategic, in which Altamont believes it can help navigate. Altamont can invest up to $150 million of equity per transaction and looks for businesses with EBITDA up to $100 million. The Firm prefers control transactions and targets a range of transaction types, including corporate carve-outs, build-ups, take-privates, and founder transitions. Sectors of interest include business services, financial services, industrials, healthcare, consumer, retail, restaurants, franchising, and technology. Altamont Partners was formed in 2010 and is based in Palo Alto, California.

DEAL STATS #
Overall 10 of 16
Sector (Food) 1 of 1
Type (Merger) 2 of 2
State (Florida) 2 of 2
Country (United States) 9 of 15
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-02 Cornerstone Advisors

Scottsdale, Arizona, United States

Cornerstone Advisors is a provider of advisory services to banking institutions. Cornerstone is the major authority on driving revenue and profitability improvements for mid-size banks and credit unions. Cornerstone Advisors was founded in 2002 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Specialized Packaging Group

Oakland, Connecticut, United States

Specialized Packaging Group is a vertically-integrated provider of protective packaging products that operates under two divisions, IVEX and Engineered Packaging. Specialized Packaging Group was founded in 1983 and is based in Oakland, California.

Buy -
Mergr

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