Arbor Investments Wins Buyouts Deal of the Year Award
For Immediate Release
Arbor Investments, based in Chicago, IL, has won the prestigious Buyouts Deal of the Year award for the sale of Great Kitchens. Buyouts Magazine had previously honored Arbor as the winner of Buyouts Small Market Deal of the Year Award for the outstanding private equity transaction of 2010 with an enterprise value up to $200 million, leading to the ultimate Deal of the Year accolade.
According to Buyouts Magazine, the key factors that gave Arbor the win over the other respected private equity firms in contention were as follows:
• Delivered very solid performance for investors, including 69 percent IRR and 17x cash-on-cash return on original investment;
• Not only grew Great Kitchens, but also the whole concept and acceptance of “take and bake” pizza;
• Won agreements with nine of the nation’s 16 largest food retailers; and
• Created 437 net jobs over six years, nearly tripling Great Kitchens’s work force to 670
Arbor acquired Great Kitchens, Inc. (then named Cousins Foods) in October 2004. Great Kitchens, headquartered in Romeoville, Illinois, is a leading supplier of pizza and appetizers with a focus on the deli segment of the North American retail grocery channel. The Company is the largest take and bake pizza manufacturer in North America.
On June 7, 2010, Arbor sold Great Kitchens to ARYZTA AG, a Swiss food company based in Zurich, with a focus on specialty bakery (primary listing on the Swiss stock exchange; ticker: ARYN). The sale of Great Kitchens to ARYZTA commanded a $180 million purchase price, yielding an internal rate of return of 69% and a multiple of 17 times its original investment.
About Arbor
Arbor Investments, LLC is a private equity firm specializing in mid-market leveraged buyouts of food, beverage and related companies. Founded in 1999 and headquartered in Chicago, Arbor currently has $299 million of capital under management across two funds. The firm’s food and beverage portfolio generates over $1.1 billion in annual revenue. Arbor is the clear leader in the Food & Beverage sector, with a strong track record, singular focus and a deep, long-tenured team of professionals. For more information about Arbor Investments, please contact Kimberly Harrod, Vice President (312-981-3777 or harrod@arborpic.com).