Deal Details

Acquisition of Richelieu Foods, Inc.

Consumer

Acquisition of Richelieu Foods, Inc.

Summary

Baird served as the exclusive financial advisor to Freiberger Group on this transaction

About

Freiberger Group (“Freiberger”), a wholly owned subsidiary of Südzucker Group (“Südzucker”), recently acquired Richelieu Foods, Inc. (“Richelieu”), a portfolio company of Centerview Capital, for an enterprise value purchase price of $435 million.

Freiberger is a leading European producer of private label frozen and chilled pizza, as well as private label pasta dishes and snacks. Freiberger’s ~2,600 employees operate from six European facilities to produce nearly three million pizzas daily. Freiberger is a wholly owned subsidiary of Südzucker and is headquartered in Berlin, Germany.

Südzucker is a leading company in the global food industry. Südzucker operates across four segments: Sugar, Special Products, CropEnergies and Fruit. Südzucker’s Sugar segment is a global leader with 31 sugar facilities located in 11 countries across Western and Eastern Europe. Südzucker’s Special Products segment produces functional ingredients for food and animal feed (BENEO), chilled and frozen food products (Freiberger), portion packs (PortionPack Europe) and starch. The Special Products segment operates 22 facilities globally. Südzucker’s CropEnergies segment sustainably produces bioethanol in four facilities located in Germany, Belgium, France and the United Kingdom. Südzucker’s Fruit segment is a global leader in fruit preparations and a leading supplier of fruit juice concentrates in Europe, operating out of 39 global facilities. Südzucker is a publicly traded company headquartered in Mannheim, Germany.

Richelieu, founded in 1862, is a leading producer of private label frozen and deli pizza, as well as private label sauces and dressings. Richelieu produces over 100 million pizzas and nearly nine million cases of pourable products annually. Richelieu is headquartered in Braintree, Massachusetts and serves the retail and foodservice channels through five manufacturing facilities located across the Midwest.

Centerview Capital is a private investment firm that provides capital to high potential consumer and technology companies through separate funds. Centerview Capital’s consumer fund is based in Greenwich, Connecticut and is focused exclusively on making investments in the United States consumer industry. Centerview Capital’s consumer business seeks to leverage its operational expertise and deep consumer industry relationships in partnering with existing owners and management to achieve strategic and operational excellence. Centerview Capital also operates a technology fund based in Palo Alto, California.

Consumer

Acquisition of Richelieu Foods, Inc.