Dec 20, 2010

High Road Capital Partners acquires PANOS brands from Royal Wessanen NV

High Road Capital Partners (www.highroadcap.com) announced today that it has completed the acquisition of New Jersey-based PANOS brands, LLC. PANOS brands is a subsidiary of Royal Wessanen nv, a leading company in the European organic food market.

PANOS is a leading manufacturer and marketer of natural and specialty food and beverage products sold in the US and Canada, with a portfolio of brands including KA-ME Asian foods, Sesmark crackers, MI-DEL cookies, and Amore food pastes.

“High Road believes there is tremendous opportunity in the branded consumer food products business,” said Bob Fitzsimmons, High Road’s Managing Partner. “The market for natural and organic foods is expected to grow more quickly than regular food products over the next decade, and PANOS’s brands are well-positioned within their respective niches.”

“Our strategy is to build on PANOS’s strong position in the natural and gluten-free categories by expanding distribution and making add-on acquisitions,” added High Road partner William Connell.

“We are delighted to partner with High Road and look forward to their support in building our brands,” said Lisa Coker, Vice President of Marketing for PANOS.

The transaction closed on December 17, 2010. The purchase price was $22 million, and financing was provided by Fifth Third Bank. William Connell was High Road’s lead partner on the transaction. Also working on the transaction from High Road were Partner William Hobbs, Vice President Adi Blum and Associate Paul Langley.

High Road has completed nine transactions – six platform investments and three add-on acquisitions – over the past two and a half years for its debut fund, High Road Capital Partners Fund I, LP.

 

For further information, please contact Bob Fitzsimmons of High Road Capital Partners at (212) 554-3265.

High Road Capital Partners

High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $150 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $2 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level, with the expectation of doubling or tripling EBITDA during the course of its ownership through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, (www.highroadcap.com).

PANOS brands

PANOS is a consumer packaged goods company with 18 brands focused on natural and specialty food products. “P.A.N.O.S.” is an acronym that precisely defines the company’s mission to offer Premium, Authentic, Natural, Organic and Specialty foods. A substantial portion of PANOS’s lines are focused on gluten-free and other allergy-sensitive foods. PANOS’s products are sold principally in the US but also in Canada. The company is headquartered in Saddle Brook, New Jersey. Additional information about PANOS brands may be found on its website, (www.panosbrands.com)


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