Description
|
 | Leading manufacturer and distributor of cookies, muffins and other sweet baked goods to the foodservice and retail markets |
Transaction
|
| Acquired in November 1998 from founder and enterpreneur |
| Founder retained substantial stake |
Rationale
|
| First Atlantic experience in food industry |
| Substantial potential for cost improvement |
 Operations and systems |
| Strong brand |
| Opportunities for expansion and introduction of new products |
First Atlantic Value-Added
|
| Quickly realized significant cost savings |
| Launched new sales initiatives |
| Developed new products and growth strategy |
Results
|
| Grew revenues and EBITDA 11.7% and 25.2% per annum |
| Sold in 2002 for a 5.0x return and a 50% IRR in 3 years |
