Cannae Holdings, Inc. and KDSA to Acquire Majority Stake in The Watkins Company
Cannae Holdings (NYSE: CNNE) and KDSA Investment Partners have agreed to acquire a majority stake in The Watkins Company, a 156-year-old American heritage brand known for high-quality flavoring products. The transaction, expected to close in October 2024, aims to drive growth and innovation in Watkins' portfolio of spices, seasonings, and extracts.
Watkins is positioned as a premium yet affordable brand in the fast-growing spices and seasonings category, which benefits from long-term consumer trends. The current majority owner, Mark Jacobs, will retain a significant equity stake. The partnership seeks to leverage Cannae and KDSA's resources and experience to expand Watkins' reach and explore new growth opportunities in retail and other channels.
William P. Foley, II, Chairman and CEO of Cannae, expressed enthusiasm for the investment in one of the fastest-growing segments of the U.S. food industry. The acquisition aligns with Cannae's strategy of making private investments in promising sectors.
Cannae Holdings (NYSE: CNNE) e KDSA Investment Partners hanno concordato di acquisire una partecipazione di controllo in The Watkins Company, un marchio heritage americano con 156 anni di storia, noto per i suoi prodotti di aromatizzazione di alta qualità. La transazione, prevista per concludersi nell'ottobre 2024, mira a stimolare la crescita e l'innovazione nel portafoglio di spezie, condimenti ed estratti di Watkins.
Watkins si propone come un marchio premium e allo stesso tempo accessibile nella categoria in rapida crescita di spezie e condimenti, beneficia di tendenze di consumo a lungo termine. L'attuale proprietario di maggioranza, Mark Jacobs, manterrà una quota di capitale significativa. La collaborazione intende sfruttare le risorse e l'esperienza di Cannae e KDSA per ampliare la portata di Watkins ed esplorare nuove opportunità di crescita nella vendita al dettaglio e in altri canali.
William P. Foley, II, Presidente e CEO di Cannae, ha espresso entusiasmo per l'investimento in uno dei segmenti in più rapida crescita dell'industria alimentare statunitense. L'acquisizione si allinea con la strategia di Cannae di effettuare investimenti privati in settori promettenti.
Cannae Holdings (NYSE: CNNE) y KDSA Investment Partners han acordado adquirir una participación mayoritaria en The Watkins Company, una marca de herencia estadounidense de 156 años, conocida por sus productos de sabor de alta calidad. La transacción, que se espera cerrar en octubre de 2024, tiene como objetivo impulsar el crecimiento y la innovación en el portafolio de especias, sazonadores y extractos de Watkins.
Watkins se posiciona como una marca premium pero asequible en la categoría de especias y sazonadores de rápido crecimiento, que se beneficia de tendencias de consumo a largo plazo. El actual propietario mayoritario, Mark Jacobs, mantendrá una participación significativa. La asociación busca aprovechar los recursos y la experiencia de Cannae y KDSA para expandir el alcance de Watkins y explorar nuevas oportunidades de crecimiento en el comercio minorista y otros canales.
William P. Foley, II, Presidente y CEO de Cannae, expresó su entusiasmo por la inversión en uno de los segmentos de más rápido crecimiento de la industria alimentaria de EE. UU. La adquisición se alinea con la estrategia de Cannae de realizar inversiones privadas en sectores prometedores.
카나이 홀딩스 (NYSE: CNNE)와 KDSA 투자 파트너스는 미국 유서 깊은 브랜드인 왓킨스 컴퍼니의 지분을 다수 확보하기로 합의했습니다. 왓킨스는 156년의 역사를 자랑하며 고품질 향미 제품으로 유명합니다. 이 거래는 2024년 10월에 마무리될 예정이며, 왓킨스의 향신료, 조미료 및 추출물 포트폴리오의 성장과 혁신을 이끌기 위한 것입니다.
왓킨스는 빠르게 성장하는 향신료 및 조미료 범주에서 프리미엄이면서도 합리적인 가격대의 브랜드로 자리 잡고 있으며, 이는 장기 소비 트렌드의 혜택을 누리고 있습니다. 현재의 대주주인 마크 제이콥스는 상당한 지분을 유지할 것입니다. 이 파트너십은 카나이와 KDSA의 자원과 경험을 활용하여 왓킨스의 유통망을 확장하고 소매 및 기타 채널에서 새로운 성장 기회를 모색하는 것을 목표로 합니다.
카나이 회장 겸 CEO인 윌리엄 P. 폴리 II는 미국 식품 산업에서 가장 빠르게 성장하는 분야에 대한 투자에 대한 열정을 표현했습니다. 이번 인수는 카나이의 유망한 부문에 대한 사모 투자 전략과 일치합니다.
Cannae Holdings (NYSE: CNNE) et KDSA Investment Partners ont convenu d'acquérir une participation majoritaire dans The Watkins Company, une marque américaine patrimoniale âgée de 156 ans, connue pour ses produits de qualité supérieure en matière de saveurs. La transaction, qui devrait être finalisée en octobre 2024, vise à stimuler la croissance et l'innovation dans le portefeuille d'épices, de condiments et d'extraits de Watkins.
Watkins est positionné comme une marque premium mais abordable dans la catégorie en pleine expansion des épices et condiments, bénéficiant de tendances de consommation à long terme. L'actuel propriétaire majoritaire, Mark Jacobs, conservera une part de capital significative. Ce partenariat vise à tirer parti des ressources et de l'expérience de Cannae et KDSA pour étendre la portée de Watkins et explorer de nouvelles opportunités de croissance dans la vente au détail et d'autres canaux.
William P. Foley, II, Président et CEO de Cannae, a exprimé son enthousiasme pour cet investissement dans l'un des segments à la croissance la plus rapide de l'industrie alimentaire américaine. Cette acquisition s'inscrit dans la stratégie de Cannae de réaliser des investissements privés dans des secteurs prometteurs.
Cannae Holdings (NYSE: CNNE) und KDSA Investment Partners haben sich darauf geeinigt, eine Mehrheitsbeteiligung an The Watkins Company zu erwerben, einer 156 Jahre alten amerikanischen Heritage-Marke, die für hochwertige Aromaprodukte bekannt ist. Die Transaktion, die im Oktober 2024 abgeschlossen werden soll, zielt darauf ab, Wachstum und Innovation im Portfolio von Gewürzen, Würzmischungen und Extrakten von Watkins voranzutreiben.
Watkins positioniert sich als Premium-Marke, die gleichzeitig erschwinglich ist, in der schnell wachsenden Kategorie von Gewürzen und Würzmischungen, die von langfristigen Verbrauchstrends profitiert. Der aktuelle Mehrheitsinhaber, Mark Jacobs, wird einen erheblichen Eigenkapitalanteil behalten. Die Partnerschaft zielt darauf ab, die Ressourcen und Erfahrungen von Cannae und KDSA zu nutzen, um die Reichweite von Watkins zu erweitern und neue Wachstumsmöglichkeiten im Einzelhandel und anderen Kanälen zu erkunden.
William P. Foley, II, Vorsitzender und CEO von Cannae, äußerte Begeisterung für die Investition in eines der am schnellsten wachsenden Segmente der US-Lebensmittelindustrie. Die Akquisition steht im Einklang mit Cannaes Strategie, private Investitionen in vielversprechende Sektoren zu tätigen.
- Acquisition of a majority stake in a well-established, 156-year-old American heritage brand
- Investment in a fast-growing segment of the U.S. food industry
- Potential for expansion into new retail channels and geographies
- Partnership with experienced investors to drive growth and innovation
- None.
Insights
This acquisition represents a significant strategic move for Cannae Holdings, entering the fast-growing spices and seasonings market. The deal targets The Watkins Company, a well-established brand with a 156-year history, positioning Cannae in a premium segment with strong growth potential. Key points to consider:
- The spices and seasonings category benefits from long-term consumer trends, offering a solid foundation for growth.
- Watkins' position as a premium, natural and organic brand aligns with current consumer preferences.
- The partnership structure, including KDSA Investment Partners and the retention of existing ownership, suggests a balanced approach to leverage expertise and maintain continuity.
- Potential for expansion in retail, new channels and geographies indicates multiple avenues for revenue growth.
While financial details are not disclosed, this move diversifies Cannae's portfolio into consumer goods, potentially providing stable cash flows and growth opportunities. Investors should monitor the closing of the deal and subsequent integration efforts to assess the impact on Cannae's financial performance.
The acquisition of The Watkins Company by Cannae Holdings and KDSA taps into several key market trends:
- Growing consumer interest in high-quality, natural and organic flavoring products
- Increasing demand for premium yet affordable food brands
- Rising popularity of home cooking, boosting the spices and seasonings market
- Potential for expansion in both traditional retail and new channels
Watkins' 156-year heritage provides a strong brand foundation, which can be leveraged for marketing and consumer trust. The partnership's focus on both organic growth and potential inorganic expansion suggests a comprehensive strategy to capture market share. This move could position Cannae to benefit from the
~Private Investment in 156-Year Old Flavoring Products Company That Is Positioned for Long Term Growth and Profitability~
~Cannae, KDSA and Existing Ownership Partnering to Drive Long Term Value Creation~
William P.
"This partnership with Cannae and KDSA is an exciting opportunity for our company and our brand”, said Mark Jacobs, Chairman of
“We are looking forward to partnering with Cannae and the team at
“We are looking forward to the future with great optimism," said JR Rigley, CEO of
Intrepid Investment Bankers acted as the exclusive financial advisor to
About Cannae Holdings, Inc.
We primarily acquire interests in operating companies and are actively engaged in managing and operating a core group of those companies. We believe that our long-term ownership and active involvement in the management and operations of companies helps maximize the value of those businesses for our shareholders. We are a long-term owner that secures control and governance rights of other companies primarily to engage in their lines of business and we have no preset time constraints dictating when we sell or dispose of our businesses.
About KDSA Investment Partners
KDSA is an investment partnership focused on founder-led and family-owned businesses in the food and beverage industry. Co-Founders David Knopf and Andrew Souza established KDSA to acquire and grow businesses with long-term capital, utilizing their extensive operational and investing experience, industry relationships, and network of experienced operating partners to drive long-term growth in its portfolio companies. For more information, visit KDSA Investment Partners.
About The Watkins Company
From the bluffs high above the Mississippi River in
Forward-Looking Statements and Risk Factors
This press release, and any related oral statements contain forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, beliefs, plans, intentions, or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Except as required by applicable law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties that forward-looking statements are subject to include, but are not limited to: risks associated with our ability to successfully operate
This press release should be read in conjunction with the risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Forms 10-Q, Form 10-K and our other filings with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241007498753/en/
Jamie Lillis, Managing Director, Solebury Strategic Communications,
203-428-3223, jlillis@soleburystrat.com
Source: Cannae Holdings, Inc.
FAQ
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