M&A Deal Summary

Yamazaki Baking Acquires Bakewise Brands

On July 20, 2016, Yamazaki Baking acquired food company Bakewise Brands from Ancor Capital Partners and Merit Capital Partners

Acquisition Highlights
  • This is Yamazaki Baking’s 2nd transaction in the Food sector.
  • This is Yamazaki Baking’s 2nd transaction in the United States.
  • This is Yamazaki Baking’s 2nd transaction in New York.

M&A Deal Summary
Date 2016-07-20
Target Bakewise Brands
Sector Food
Buyer(s) Yamazaki Baking
Sellers(s) Ancor Capital Partners
Merit Capital Partners
Deal Type Add-on Acquisition

Target

Bakewise Brands

Macedon, New York, United States
Bakewise Brands, Inc. is a manufacturer of fresh, refrigerated, and frozen bagels sold to grocery chains and hospitality customers throughout the Eastern United States. The company manufactures bagels for leading brands such as Thomas, Pepperidge Farm, and numerous grocery chains such as Kroger and Wegmans.

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Buyer(S) 1

Buyer

Yamazaki Baking

Tokyo, Japan
Category Company
Founded 1948
Sector Food
Employees28,363
DESCRIPTION

Yamazaki Baking Co., Ltd. is a provider of reasonably priced, fresh, high-quality baked goods. The company's lineup includes bread, sweet buns, Japanese-style confectionery, Western-style confectionery, processed bread and prepared rice and side dishes, as well as jam, desserts and prepared foods in retort pouches.

DEAL STATS #
Overall 2 of 2
Sector (Food) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (New York) 2 of 2
Country (United States) 2 of 2
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 Tom Cat Bakery

Long Island City, New York, United States

Tom Cat Bakery, Inc. is a producer of premium artisan bread and sweet goods for casual and fine dining restaurants, Starbucks, other specialty retailers, and food service companies. Recognized as one of the founders of the artisan bread market in New York City, Tom Cat maintains one of the largest artisan bread and sweet goods product lines in the Northeast with over 350 products.

Buy -

Seller(S) 2

SELLER

Ancor Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Ancor Capital Partners is a private equity firm focused on recapitalizations of lower middle-market companies operating in the manufacturing, distribution, and healthcare sectors. Prospective businesses are generally valued between $25 and $150 million and are profitable with EBITDA of $5 to $15 million. The Firm prefers businesses located in the US. Ancor will does not invest in start-ups, turnarounds, or businesses in real estate, or energy exploration. Ancor Capital Partners was formed in 1994 and is based in Southlake, Texas.

DEAL STATS #
Overall 8 of 14
Sector (Food) 3 of 4
Type (Add-on Acquisition) 6 of 10
State (New York) 2 of 2
Country (United States) 8 of 14
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 Tom Cat Bakery

Long Island City, New York, United States

Tom Cat Bakery, Inc. is a producer of premium artisan bread and sweet goods for casual and fine dining restaurants, Starbucks, other specialty retailers, and food service companies. Recognized as one of the founders of the artisan bread market in New York City, Tom Cat maintains one of the largest artisan bread and sweet goods product lines in the Northeast with over 350 products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-02 Fleuron Enterprises

Dallas, Texas, United States

Fleuron Enterprises, Inc. is a designer and manufacturer of high-end, premium decorative drapery hardware products for the interior design market. Fleuron offers a complete line of mid-to-high price point products in four established and successful brands: The Finial Company, Paris Texas Hardware, Gould New York, and Components. Fleuron Enterprises was founded in 2005 and is based in Dallas, Texas.

Sell -
SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 32 of 52
Sector (Food) 3 of 4
Type (Add-on Acquisition) 16 of 27
State (New York) 2 of 3
Country (United States) 32 of 51
Year (2016) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 Tom Cat Bakery

Long Island City, New York, United States

Tom Cat Bakery, Inc. is a producer of premium artisan bread and sweet goods for casual and fine dining restaurants, Starbucks, other specialty retailers, and food service companies. Recognized as one of the founders of the artisan bread market in New York City, Tom Cat maintains one of the largest artisan bread and sweet goods product lines in the Northeast with over 350 products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 PVI Industries

Fort Worth, Texas, United States

PVI Industries LLC is a manufacturer of commercial water heaters, firetube boilers, multi-tube boilers and related component parts.

Sell -
Mergr

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