Secondary Buyout • Food

Wind Point Partners and New Canaan Funding Acquire Nonni s

On March 1, 2004, private equity firm Wind Point Partners and mezzanine finance firm New Canaan Funding acquired food company Nonni s from Swander Pace Capital

Acquisition Context
  • This is Wind Point Partners’ 2nd and New Canaan Funding’s 1st transaction in the Food sector.
  • This is Wind Point Partners’ 20th and New Canaan Funding’s 11th transaction in the United States.
  • This is Wind Point Partners’ 1st and New Canaan Funding’s 1st transaction in Oklahoma.
Investment Fate
  • Nonni s was sold to a strategic buyer in 2008 for 320M USD.
  • Nonni s was divested to a consortium of buyers in 2011.
  • Nonni s was sold to a consortium of financial buyers in 2017.
  • Nonni s was sold to a strategic buyer in 2024.

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M&A Deal Summary

Date March 1, 2004
Target Nonni s
Sector Food
Buyer(s) Wind Point Partners
New Canaan Funding
Sellers(s) Swander Pace Capital
Deal Type Secondary Buyout

Target Company

Nonni s

Tulsa, Oklahoma, United States
Nonni's is a manufacturer and marketer of artisanal cookies and other premium baked snacks. Nonni’s premium products are synonymous with artisanal, authentic, and Italian-inspired. Products are marketed under the Nonni’s, THINaddictives, and La Dolce Vita brand names, and sold through a diverse distribution platform that includes major customers in club, grocery, mass market, foodservice, and online retailing. Nonni's was founded in 1988 and is based in Tulsa, Oklahoma.
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Buyers Overview 2

Buyer

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


Deal Context for Buyer #
Overall 20 of 86
Sector: Food 2 of 13
Type: Secondary Buyout 3 of 30
State: Oklahoma 1 of 3
Country: United States 20 of 79
Year: 2004 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-13 Pacific Cycles

Madison, Wisconsin, United States

Pacific Cycles, Inc. is a designer and supplier of higher quality bicycles to U.S. based mass-market retailers. Pacific supplies high-quality, feature-rich bicycles to retailers such as Toys R Us, Target and Sears.

Sell $310M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-07 The Ames Companies

Camp Hill, Pennsylvania, United States

The Ames Companies, Inc. is a manufacturer, marketer and distributor of non-motorized lawn and garden tools, wheelbarrows and hose reels. Ames products are marketed under the Ames, True Temper, Jackson and Garant brand names.

Sell $380M
Buyer

New Canaan Funding

New Canaan, Connecticut, United States

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.


Deal Context for Buyer #
Overall 11 of 34
Sector: Food 1 of 5
Type: Secondary Buyout 4 of 14
State: Oklahoma 1 of 2
Country: United States 11 of 34
Year: 2004 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Hi-Tech Rubber

Anaheim, California, United States

Hi-Tech Rubber, Inc., is an custom molder of precision elastomeric components utilized primarily in the medical industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Hardware Resources

Bossier City, Louisiana, United States

Hardware Resources is a supplier of functional and decorative hardware that appeals to the 'mass affluent' consumer. The Company sells its products to more than 3,900 independent custom cabinet manufacturers throughout the United States. Hardware Resources was formed in 1990 and is based in Bossier City, Louisiana.

Buy -

Seller Profile 1

SELLER

Swander Pace Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Swander Pace Capital (SPC) is a private equity firm focused on investing in North American middle-market consumer products companies. SPC looks for companies exhibiting strong growth potential and sales of up to $500 million. Specific areas of interest include food/beverage, household products, health living, packaging, personal care, pet products, sporting goods, specialty apparel, and specialty distribution. Prospective investment situations include management-led buyouts, consolidations, divestitures, turnarounds, recapitalizations, and growth capital financings. SPC was formed in 1996 and has offices in San Francisco, California; Bedminster, New Jersey; and Ontario, Canada.


Deal Context for Seller #
Overall 6 of 42
Sector: Food 2 of 22
Type: Secondary Buyout 2 of 15
State: Oklahoma 1 of 2
Country: United States 6 of 35
Year: 2004 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Oregon Chai

Portland, Oregon, United States

Oregon Chai, Inc. is a provider of national brand of chai (specialty spiced tea) beverages. Oregon Chai distributes its liquid concentrate, dry powder mix, and ready-to-drink bottled products primarily through natural food distributors, retail grocery stores, and foodservice distributors.

Sell $96M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-30 Solvaira Specialty

North Tonawanda, New York, United States

Solvaira Specialty LP is a producer of powdered cellulose and fiber filler products used for food and industrial applications. Solvaira Specialty was founded in 1917 and is based in North Tonawanda, New York.

Buy -