branded and private label processor of apple sauce, juice and vinegar

$115M Revenue

Company Overview

The nearly 100-year-old Company is a regional processor of branded apple sauce, apple juice, apple vinegar and other fruit products with revenue of approximately $100 million.  Most products are sold under a major brand, which enjoys wide recognition in its geographic market and leading market share in key product categories.

Engagement Overview

After decades of revenue growth and market leadership, the Company began to face financial challenges due to pricing pressures created by a more competitive retail environment, coupled with escalating product costs.

The Company was faced with insolvency scenarios due to continued losses, despite the efforts of a third-party turnaround consultant.

The Company retained Fort Dearborn to act as exclusive financial advisor for the sale of this distressed business: 

–Fort Dearborn generated interest and visits from industry and financial buyers;

–Fort Dearborn’s sale process generated multiple bids;

–The successful bidder increased the price by 50% over the initial bid, and improved the deal structure;

–The sale of stock provided a complete exit for the sellers, including non-core real estate; and

–The deal closed within 120 days of retention.

Results

The FDP sales process generated numerous management visits and multiple offers from which the Company could choose.

The buyer provided the best total solution to the family - attractive value for the shareholders, a quick and complete exit from the varied operations of the Company, and the buyer’s commitment to continue running a specific plant, providing continuity of the family legacy.

FDP News

Oct - 23

Max Bechtel and Austin Curtis join Fort Dearborn Partners

Please join us in welcoming the newest members of the Fort Dearborn Team, Max Bechtel and Austin Curtis.

Read More

Apr - 23

Fort Dearborn advises Reliable Knitting Works

Fort Dearborn Partners served as the exclusive financial advisor for the refinancing of Reliable Knitting Works, a $125 Million Wisconsin-based Company.

Read More