M&A Deal Summary

Stripes, Brentwood Associates and Alliance Consumer Growth Acquire Snooze

On December 5, 2016, growth capital firm Stripes, private equity firm Brentwood Associates and growth capital firm Alliance Consumer Growth acquired restaurant Snooze from Weston Presidio

Acquisition Highlights
  • This is Stripes’ 1st, Brentwood Associates’ 5th and Alliance Consumer Growth’s 2nd transaction in the Restaurants sector.
  • This is Stripes’ 27th, Brentwood Associates’ 30th and Alliance Consumer Growth’s 17th transaction in the United States.
  • This is Stripes’ 4th, Brentwood Associates’ 2nd and Alliance Consumer Growth’s 2nd transaction in Colorado.

M&A Deal Summary
Date 2016-12-05
Target Snooze
Sector Restaurants
Buyer(s) Stripes
Brentwood Associates
Alliance Consumer Growth
Sellers(s) Weston Presidio
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC
Citigroup Investment Banking (Financial)
Dechert (Legal)

Target

Snooze

Denver, Colorado, United States
Snooze is a unique restaurant concept that aims to re-energize the way you think, feel, and, ultimately, eat breakfast. Along with great food and attentive service, the Company is focused on creating a sustainable restaurant environment and working with local vendors to source fresh, high-quality ingredients. Snooze currently has five locations throughout Colorado and one location in San Diego, California. Snooze was founded in 2006 and is based in Denver, Colorado.

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Buyer(S) 3

Buyer

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2008
PE ASSETS 7.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2008 and is based in New York City.

DEAL STATS #
Overall 29 of 40
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Colorado) 4 of 4
Country (United States) 27 of 36
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-10 eMarketer

New York, New York, United States

eMarketer, Inc. is a provider of high-quality analyses, reports, and digital market data for companies and institutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-10 Craftsy

Denver, Colorado, United States

Craftsy is a preeminent online destination for passionate makers to learn, create and share. With online classes, popular supplies and indie patterns, over five million creative enthusiasts are taking their skills to new heights. Craftsy was founded in 2011 and is based in Denver, Colorado.

Sell -
Buyer

Brentwood Associates

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brentwood Associates is a private equity firm focused on long-term investments in middle-market growth companies. Brentwood typically targets investments in consumer-related businesses. Specific areas of interest include action sports/outdoor lifestyle products, business services, consumer products/services, direct marketing, distribution, education, health/wellness, marketing services, specialty media, specialty retail, and sporting goods. Brentwood's preferred equity investment size is $50 to $200 million. Brentwood Associates was formed in 1972 and is based in Los Angeles.

DEAL STATS #
Overall 33 of 48
Sector (Restaurants) 5 of 9
Type (Secondary Buyout) 7 of 11
State (Colorado) 2 of 3
Country (United States) 30 of 45
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Wiland

Niwot, Colorado, United States

Wiland leverages its database of billions of transactions from 240+ million consumers to produce powerful business intelligence and high-performance marketing audiences by using proprietary data science and predictive analytics. The company’s clients span multiple industries, including: automotive, retail, financial services, home and personal services, travel and hospitality, publishing and media, charitable, and political. Wiland was formed in 2005 and is based in Niwot, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 Allen Edmonds

Port Washington, Wisconsin, United States

Allen Edmonds Corp. is a manufacturer of men’s premium handcrafted leather footwear and accessories. Allen Edmonds was founded in 1922 and is based in Port Washington, Wisconsin.

Sell $255M
Buyer

Alliance Consumer Growth

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

Alliance Consumer Growth (ACG) is a private investment firm focused exclusively on high-growth consumer products and services companies. ACG looks to commit $10 to $50 million in businesses generating $5 to $50 million in sales. Specific areas of interest include food/beverage, health/beauty, household products, pet products, apparel, retail, restaurants, and education. Target companies typically possess differentiate products or services with strong brands and loyal customers. Alliance Consumer Growth was established in 2011 and is based in New York City.

DEAL STATS #
Overall 18 of 31
Sector (Restaurants) 2 of 4
Type (Secondary Buyout) 1 of 1
State (Colorado) 2 of 3
Country (United States) 17 of 28
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-30 Pacifica Beauty

Carpinteria, California, United States

Pacifica is a dreamy, vibrant, and trendsetting lifestyle brand that has been on a mission to make clean beauty more accessible to everyone using the most effective 100% vegan, cruelty-free, and plant-powered ingredients at the best prices. Pacifica Beauty was founded in 1996 and is based in Carpinteria, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Clio Snacks

Piscataway, New Jersey, United States

Clio Snacks manufactures and markets a line of on-the-go Greek yogurt bars that consist of creamy, whole milk Greek yogurt wrapped in dark chocolate, combining the nutritional benefits of yogurt – high protein, billions of probiotics – with the convenience of a bar. Clio Snacks was founded in 2015 and is based in Piscataway, New Jersey.

Buy -

Seller(S) 1

SELLER

Weston Presidio

Boston, Massachusetts, United States

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 49 of 52
Sector (Restaurants) 2 of 2
Type (Secondary Buyout) 14 of 16
State (Colorado) 4 of 4
Country (United States) 46 of 49
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 The HydraFacial

Signal Hill, California, United States

The HydraFacial is a manufacturer of non-invasive equipment and consumables used in aesthetic skin health treatments. The HydraFacial was founded in 1997 and is based in Signal Hill, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 SharkNinja

Needham, Massachusetts, United States

SharkNinja is a designer, marketer, and distributor of primarily branded home cleaning products. It offers over 50 different appliance products, including products for general cleaning, garment care, and kitchen use. The company markets its products under recognized brand names such as Shark, Euro-Pro, Fantom, Omega, and Bravetti, and maintains longstanding relationships with well-known retailers. SharkNinja was formed in 1994 and is based in Needham, Massachusetts.

Sell -
Mergr

Product

Company

Legal