branded and private label cough drops, candy rolls, mints and contract packaging

$15M Revenue

Company Overview

A leading manufacturer of branded and private label cough drops, mints and candies.

Engagement Overview

Despite a history of solid performance, the Company suffered a major setback stemming from a commercial dispute with a large customer. The dispute resulted in a significant decrease in sales volume, a strain on the Company’s cash flow and ultimately led to the Company being in default of its credit agreement.

Fort Dearborn Partners initially assisted the Company with profit improvement strategies to strategically increase prices, reduce overhead expenses and improve working capital management. 

The ongoing capital constraints convinced Fort Dearborn to recommend that the Company pursue options to generate liquidity, including selling the Company and raising capital to de-leverage.

Results

Pursuing a dual strategy, our process generated multiple visits from both financial investors and strategic buyers, leading ultimately to a transaction with Gordon Brothers Group, LLC through a sale of the Company’s senior debt, which provided the Company with the liquidity to continue to operate independently, and pursue the owner’s growth strategy.

FDP News

Feb - 21

2020 Year in Review

Chicago, IL - Despite the rollercoaster ride that was 2020, we at FDP are proud to say that, thanks to our resilient and trusting clients, hard-working and talented staff,... Read More

Sep - 20

Fort Dearborn Advises Motor Distributor

Fort Dearborn Partners served as a financial advisor for the refinancing of a $3.5M Line of Credit and $2.2M mortgage for a $20 million Illinois-based motor distributor coming... Read More

Jul - 20

Fort Dearborn Advises Private High School

Chicago, IL - Fort Dearborn Partners is pleased to announce that we served as exclusive financial advisor to a private high school for the refinancing of $13,000,000 in... Read More