Fruit Processor and Distributor

Company Overview

The Company is a nearly 100 year old regional processor of branded apple sauce, apple juice, apple vinegar and other fruit products with approximately $100 million in revenue.  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 continuing losses in spite of efforts of a third party turnaround consultant and 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
•  Successful bidder increased price by 50% over initial bid and improved deal structure
•  Sale of stock provided complete exit for sellers including non core real estate

•  Closed within 120 days of retention.

The Company was well served by Fort Dearborn in this transaction.  Our sales process generated numerous management visits and multiple offers from which to choose.

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