Harris Williams & Co. Advises Border Foods, Inc® in its Sale to a Subsidiary of The Mizkan Group
May 20 2011 - 2:45PM
Business Wire
Harris Williams & Co. announces the sale of Border Foods,
Inc®, a portfolio company of Ares Capital Corporation (Ares
Capital), to strategic buyer Mizkan Americas, Inc., a subsidiary of
Japan-based Mizkan Group Corporation (Mizkan). The transaction
closed on May 12, 2011. Harris Williams & Co. acted as the
exclusive advisor to Border Foods. The transaction was led by Glenn
Gurtcheff, Tim Alexander, Jeff Cleveland and Brant Cash from the
firm’s Consumer Group in Minneapolis.
“Mizkan has utilized strategic acquisitions of strong segment
leaders to diversify its position across existing channels and
strengthen its business. Border Foods leadership in the growing
market for Hispanic foods offers Mizkan new opportunities to expand
the global presence of its retail, branded, food ingredients and
foodservice business,” said Tim Alexander, managing director at
Harris Williams & Co. Glenn Gurtcheff, managing director and
head of Harris Williams & Co.’s Consumer Group added, “We
continue to see strong M&A activity across the food and
beverage industry and expect strategic and financial buyers to
remain highly interested in the sector.”
Border Foods is the nation’s oldest and most established
processor of Green Chile, Jalapeño and Tomatillo peppers and
enchilada sauces for the ingredient, private label, co-pack, and
foodservice end markets. Located in Deming, NM, Border Foods began
operations in 1972 and is the largest processor of quality Chile
peppers in the United States. Border Foods has demonstrated
consistent growth and is the market leader in the industry.
Ares Capital is a closed-end, non-diversified management
investment company that has elected to be regulated as a business
development company under the Investment Company Act of 1940. With
offices in Atlanta, Chicago, Los Angeles, New York and Washington,
D.C., Ares Capital is a specialty finance company that provides
integrated debt and equity financing solutions to U.S. middle
market companies. Ares Capital invests primarily in first- and
second-lien loans and mezzanine debt, which in some cases includes
an equity component. To a lesser extent, Ares Capital also makes
equity investments. Ares Capital is externally managed by Ares
Capital Management LLC, a wholly owned subsidiary of Ares
Management LLC, a global alternative asset manager and a Securities
and Exchange Commission registered investment adviser. As of March
31, 2011, Ares Management LLC had approximately $40 billion of
committed capital under management.
Mizkan, a 200-year old, privately-held global food manufacturer
based in Handa City, Japan, is the parent company of Mizkan
Americas, Inc. Mizkan Americas is a leading manufacturer of
condiments in the United States with 14 manufacturing plants that
serve the retail, foodservice, specialty Asian and food ingredient
trade channels. Since 2005, Mizkan Americas has seen dramatic
growth due to the acquisition of Holland House® cooking wines, the
Specialty Foods Division of Imperial Brands and World Harbors
Marinades & Sauces. Mizkan Americas produces a wide variety of
vinegars, mustards, cooking wines, wine reductions, sushi
seasoning, jellies, salad dressings, Asian sauces and other liquid
condiments. Mizkan brands include Holland House, NAKANO®, Four
Monks®, Barengo®, Mitsukan® and World Harbors®.
Harris Williams & Co. (www.harriswilliams.com), a member of
The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier
middle market advisor with a two-decade legacy of sell side
excellence serving clients worldwide. The firm is focused
exclusively on the middle market providing sell side and
acquisition advisory, restructuring advisory, board advisory,
private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC,
a registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, an Appointed Representative of Sturgeon
Ventures LLP, which is authorised and regulated by the Financial
Services Authority. Harris Williams & Co. is a trade name under
which Harris Williams LLC and Harris Williams & Co. Ltd conduct
business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker,
marketing director, at +1 (804) 648-0072.
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Oct 2024 to Nov 2024
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Nov 2023 to Nov 2024