Harris Williams Advises Indulge Desserts Intermediate Holdings, LLC on its Sale to Emmi Group
October 13 2020 - 11:40AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Indulge
Desserts Intermediate Holdings, LLC (Indulge Desserts), a portfolio
company of AUA Private Equity Partners, LLC (AUA Private Equity),
on its sale to Emmi Group (Emmi). Indulge Desserts is a
manufacturer of premium gourmet desserts, offering a full line of
American and international, all-natural products to the foodservice
and retail markets across the U.S. The transaction was led by Tim
Alexander, Brant Cash and Brant Wilczek of the Harris Williams
Consumer Group and Andreas Poth of the firm’s Frankfurt office.
“Indulge Desserts is known for its globally inspired dessert
offerings and innovative spirit, and has found an ideal partner in
Emmi,” said Brant Cash, a managing director at Harris Williams. “We
are excited to have had the opportunity to facilitate this
strategic partnership, in a deal that extends our successful track
record advising clients in the baking industry.”
“Indulge Desserts has grown steadily under AUA Private Equity’s
ownership and now offers Emmi access to its long-standing customer
relationships in the foodservice, retail and e-commerce channels.
With its strong market position in the U.S., this combination will
allow Emmi to expand its desserts business into the growing North
American market,” said Brant Wilczek, a vice president at Harris
Williams.
Indulge Desserts brings together four Greater New York area
companies specializing in the production of premium gourmet
desserts: Taste it Presents, Cannoli Factory, Love & Quiches
and Joey’s. This platform enables Indulge Desserts to offer its
customers – in the foodservice sector, retail and e-commerce
segments – a comprehensive range of American and international
desserts. The activities of the company are spread across four
highly flexible and versatile manufacturing facilities in the New
York metropolitan area.
AUA Private Equity is a New York based, operationally-focused,
lower-middle market investment firm providing strategic capital to
companies in the consumer products and services sectors with a
particular focus on family-owned businesses or companies benefiting
from the growth of the U.S. Hispanic population. AUA Private Equity
makes equity investments of $20 to $75 million in companies that
generate in excess of $5 million in EBITDA.
Emmi is a major Swiss milk processor. The company dates back to
1907, when it was founded by 62 dairy farming cooperatives around
Lucerne. Over the past 20 years, Emmi has grown into an
international, listed group. It has for many years pursued a
successful strategy based on three pillars: strengthening its Swiss
domestic market, international growth and cost management.
Throughout its corporate history, Emmi’s keen awareness of its
responsibility to society, animal welfare and the environment has
been fundamental to its mission.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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