Green Cuisine Private Label Food Manufacturer Acquired by Fresh & Ready Foods
PASADENA, Calif., January 7, 2019 (Newswire.com) - Green Cuisine (San Fernando, CA), a private label food manufacturer, founded and owned by the Sanderson family, was sold to Fresh & Ready Foods (San Fernando, CA), a portfolio company of Akoya Capital (Chicago, IL), Balance Point Capital (Westport, CT) and Plexus Capital (Raleigh, NC), for an undisclosed sum. Pasadena-based consulting firm, KROST, acted as the exclusive financial advisor to Green Cuisine in the transaction.
Since its inception in 1939, KROST has developed long-term client relationships with Los Angeles-based businesses including Green Cuisine, which has been a client of KROST for multiple generations. As a firm that also provides consulting services beyond traditional accounting and tax, KROST is uniquely positioned to provide advisory services throughout each chapter of a business’ journey. Both the KROST leadership and the Sandersons agreed that a continued partnership for this transaction offered clear benefits to Green Cuisine, as the firm was already familiar with the family-owned operation.
When asked about the recent transaction, Greg Kniss, Managing Principal of KROST, remarked, “I am delighted for the Sandersons and confident that the new owners will make a success of the business going forward. We have always had some involvement in M&A, but since we launched a focused practice last year, we have been able to provide a truly comprehensive service to both sell-side and buy-side clients.”
KROST’s M&A practice is led by industry veteran, Paren Knadjian, who joined the firm last year to expand M&A services. Knadjian has over 20 years of experience dedicated to mergers and acquisitions, as well as equity and debt financing closing over $800 million in transaction value throughout his career. The practice leader remarked upon the latest transaction with KROST’s long-time client by saying, “This was the family’s first transaction since they founded the business and had been operating it ever since. We were able to apply our significant experience in sell-side M&A to help them through the whole cycle and offered advice and support at every step of the process.”
When asked about the transaction process, Spencer Sanderson said, “The team at KROST were invaluable in helping us through the transaction – their experience of similar deals and knowledge of the market ensured a beneficial outcome for our family. We are very confident that Fresh & Ready will be excellent custodians of the business going forward.”
For information about this transaction, please contact:
Practice Leader - M&A and Capital Markets
KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers and acquisitions, and wealth management.
Categories: Mergers and Acquisitions