M&A Deal Summary

The Pictsweet Acquires Fresh Frozen Foods

On March 23, 2017, The Pictsweet acquired food company Fresh Frozen Foods from Inventure Foods for 24M USD

Acquisition Highlights
  • This is The Pictsweet’s 1st transaction in the Food sector.
  • This is The Pictsweet’s largest (disclosed) transaction.
  • This is The Pictsweet’s 1st transaction in the United States.
  • This is The Pictsweet’s 1st transaction in Georgia.

M&A Deal Summary

Date 2017-03-23
Target Fresh Frozen Foods
Sector Food
Buyer(s) The Pictsweet
Sellers(s) Inventure Foods
Deal Type Divestiture
Deal Value 24M USD

Target

Fresh Frozen Foods

Jefferson, Georgia, United States
Fresh Frozen is a family-owned, full-service processor and supplier of more than 60 varieties of frozen vegetables and fruits to retail outlets throughout the Southeast United States and the Caribbean Islands. In addition to a bulk packaging facility in Jefferson, Georgia, the business has a processing facility in Thomasville, Georgia.

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Buyer(S) 1

Buyer

The Pictsweet

Bells, Tennessee, United States

Category Company
Founded 1945
Sector Food
DESCRIPTION

The Pictsweet Co. is a full service grower, processor and marketer of frozen vegetables. Pictsweet® was founded as a family company more than 70 years ago in Bells, Tennessee. Today, the family company grows vegetables in 31 states with operations in Tennessee, Delaware, Texas, Utah, and California. Pictsweet® distributes frozen vegetable products nation-wide under The Pictsweet Farms® brand.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Inventure Foods

Phoenix, Arizona, United States

Category Company
Sector Food
DESCRIPTION

Inventure Foods, Inc. is a marketer and manufacturer of specialty food brands in better-for-you and indulgent categories under a variety of Company owned and licensed brand names, including Boulder Canyon Foods™, TGI Fridays™, Nathan's Famous®, Vidalia Brands®, Poore Brothers®, and Tato Skins®, Bob's Texas Style®.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-12 Fresh Frozen Foods

Jefferson, Georgia, United States

Fresh Frozen is a family-owned, full-service processor and supplier of more than 60 varieties of frozen vegetables and fruits to retail outlets throughout the Southeast United States and the Caribbean Islands. In addition to a bulk packaging facility in Jefferson, Georgia, the business has a processing facility in Thomasville, Georgia.

Buy $38M