Vestar Completes the Sale of Simple Mills
Vestar Capital Partners has completed the sale of Simple Mills, a premium better-for-you food brand, to Flowers Foods (NYSE: FLO) for $795 million. Vestar, which provided the first institutional investment in October 2019, was Simple Mills' largest shareholder.
During Vestar's five-year investment period, Simple Mills achieved consistent double-digit topline growth through various initiatives including: expanded distribution channels, annual new product launches, increased marketing and R&D investments, and strengthened supply-chain operations through improved co-manufacturing and supplier networks.
The transaction validates Vestar's investment thesis centered on the growing better-for-you foods market segment. Simple Mills' product portfolio includes crackers, cookies, snack bars, and baking mixes. Piper Sandler and Centerview Partners acted as financial advisors, while Kirkland & Ellis LLP served as legal counsel to Vestar.
Vestar Capital Partners ha completato la vendita di Simple Mills, un marchio alimentare premium orientato al benessere, a Flowers Foods (NYSE: FLO) per 795 milioni di dollari. Vestar, che ha fornito il primo investimento istituzionale nell'ottobre 2019, era il maggiore azionista di Simple Mills.
Durante il periodo di investimento di cinque anni di Vestar, Simple Mills ha raggiunto una crescita costante a doppia cifra grazie a varie iniziative, tra cui: espansione dei canali di distribuzione, lanci annuali di nuovi prodotti, aumento degli investimenti in marketing e R&S, e rafforzamento delle operazioni della catena di approvvigionamento attraverso un miglioramento della co-manifattura e delle reti di fornitori.
La transazione convalida la tesi di investimento di Vestar incentrata sul crescente segmento di mercato dei cibi orientati al benessere. Il portafoglio prodotti di Simple Mills include cracker, biscotti, barrette snack e miscele per la cottura. Piper Sandler e Centerview Partners hanno agito come consulenti finanziari, mentre Kirkland & Ellis LLP ha fornito assistenza legale a Vestar.
Vestar Capital Partners ha completado la venta de Simple Mills, una marca de alimentos premium más saludables, a Flowers Foods (NYSE: FLO) por 795 millones de dólares. Vestar, que realizó la primera inversión institucional en octubre de 2019, era el mayor accionista de Simple Mills.
Durante el período de inversión de cinco años de Vestar, Simple Mills logró un crecimiento constante de dos dígitos en la línea superior a través de diversas iniciativas, incluyendo: expansión de los canales de distribución, lanzamientos anuales de nuevos productos, aumento de inversiones en marketing e I+D, y fortalecimiento de las operaciones de la cadena de suministro mediante la mejora de la co-manufactura y las redes de proveedores.
La transacción valida la tesis de inversión de Vestar centrada en el creciente segmento del mercado de alimentos más saludables. El portafolio de productos de Simple Mills incluye galletas saladas, galletas, barritas de snack y mezclas para hornear. Piper Sandler y Centerview Partners actuaron como asesores financieros, mientras que Kirkland & Ellis LLP sirvió como asesor legal de Vestar.
베스타 캐피탈 파트너스는 플라워스 푸드스 (NYSE: FLO)에게 7억 9천 5백만 달러에 프리미엄 건강식 브랜드 심플 밀스의 판매를 완료했습니다. 베스타는 2019년 10월에 첫 번째 기관 투자를 제공했으며, 심플 밀스의 최대 주주였습니다.
베스타의 5년 투자 기간 동안 심플 밀스는 유통 채널 확대, 매년 새로운 제품 출시, 마케팅 및 연구 개발 투자 증가, 그리고 협력 제조 및 공급업체 네트워크 개선을 통한 공급망 운영 강화 등 다양한 이니셔티브를 통해 지속적인 두 자릿수 매출 성장을 달성했습니다.
이번 거래는 건강식품 시장 세분화의 성장에 중심을 둔 베스타의 투자 논리를 검증합니다. 심플 밀스의 제품 포트폴리오에는 크래커, 쿠키, 스낵 바 및 베이킹 믹스가 포함됩니다. 파이퍼 샌들러와 센트뷰 파트너스가 재무 자문 역할을 했으며, 커클랜드 & 엘리스 LLP가 베스타의 법률 자문을 담당했습니다.
Vestar Capital Partners a finalisé la vente de Simple Mills, une marque alimentaire premium axée sur le bien-être, à Flowers Foods (NYSE: FLO) pour 795 millions de dollars. Vestar, qui a réalisé le premier investissement institutionnel en octobre 2019, était le plus grand actionnaire de Simple Mills.
Au cours de la période d'investissement de cinq ans de Vestar, Simple Mills a connu une croissance continue à deux chiffres grâce à diverses initiatives, notamment : l'expansion des canaux de distribution, le lancement annuel de nouveaux produits, l'augmentation des investissements en marketing et en R&D, et le renforcement des opérations de la chaîne d'approvisionnement grâce à l'amélioration de la co-manufacture et des réseaux de fournisseurs.
La transaction valide la thèse d'investissement de Vestar centrée sur le segment croissant des aliments sains. Le portefeuille de produits de Simple Mills comprend des craquelins, des biscuits, des barres de collation et des mélanges à pâtisserie. Piper Sandler et Centerview Partners ont agi en tant que conseillers financiers, tandis que Kirkland & Ellis LLP a servi de conseiller juridique à Vestar.
Vestar Capital Partners hat den Verkauf von Simple Mills, einer Premium-Marke für gesunde Lebensmittel, an Flowers Foods (NYSE: FLO) für 795 Millionen Dollar abgeschlossen. Vestar, das im Oktober 2019 die erste institutionelle Investition getätigt hat, war der größte Aktionär von Simple Mills.
Während des fünfjährigen Investitionszeitraums von Vestar erzielte Simple Mills ein stetiges zweistelliges Umsatzwachstum durch verschiedene Initiativen, einschließlich: erweiterte Vertriebskanäle, jährliche Produkteinführungen, erhöhte Investitionen in Marketing und F&E sowie eine Stärkung der Lieferkettenoperationen durch verbesserte Co-Manufacturing- und Lieferantennetzwerke.
Die Transaktion bestätigt die Investmentthese von Vestar, die sich auf das wachsende Segment der gesunden Lebensmittel konzentriert. Das Produktportfolio von Simple Mills umfasst Cracker, Kekse, Snackriegel und Backmischungen. Piper Sandler und Centerview Partners fungierten als Finanzberater, während Kirkland & Ellis LLP als rechtlicher Berater von Vestar tätig war.
- Flowers Foods (FLO) acquires Simple Mills for $795 million enterprise value
- Simple Mills demonstrated consistent double-digit topline growth
- Successful expansion of distribution channels and annual product launches
- None.
Insights
The
The deal's strategic rationale is compelling for several reasons: First, Simple Mills' consistent double-digit growth and annual product innovation cycle demonstrate strong operational execution and market acceptance. Second, the brand's established presence in premium channels complements FLO's traditional distribution network, creating immediate cross-selling opportunities.
The transaction's enterprise value likely reflects a premium multiple, justified by Simple Mills' growth profile and margins typical of premium better-for-you brands (generally
Key value creation opportunities include:
- Leveraging FLO's extensive distribution network to accelerate Simple Mills' growth
- Utilizing Simple Mills' R&D capabilities and consumer insights to drive innovation across FLO's portfolio
- Optimizing the combined supply chain network to improve operational efficiency
- Cross-pollinating marketing expertise between premium and mainstream segments
Integration risks appear manageable given Simple Mills' established co-manufacturing model and FLO's experience in managing multiple brands. The transaction positions FLO to capture a larger share of the premium snacking category, which has been growing at roughly twice the rate of conventional segments.
"This positive outcome validates Vestar's original investment thesis, including the ongoing shift toward better-for-you foods, as well as our strong conviction in what we believed to be the unique potential of the Simple Mills brand," said Vestar Managing Director Kevin Mundt, who also served as Chairman of the Board of Simple Mills. "Vestar was proud to partner with the skilled Simple Mills management team, who have a pulse on what consumers want, to improve the strategic positioning of the brand and help the company realize consistent double-digit topline growth throughout our investment. We wish Simple Mills well as it embarks on its next chapter."
Over its five-year investment, Vestar, in collaboration with the Simple Mills leadership team, drove meaningful value creation across the Company. Under Vestar's ownership, Simple Mills expanded its distribution channels; supported new product innovation, including launching one major new product per year; invested meaningfully in marketing and R&D; and strengthened its supply-chain via solidifying the Company's co-manufacturing and supplier network, among other accomplishments.
"Simple Mills is another example of Vestar's long-time approach partnering with founder-owned businesses. Our aim is to steer our companies' growth and profitability positioning them for a strong future, while also generating an attractive realization for our management partners and Limited Partners," said Dan O'Connell, Founder and CEO of Vestar. "We believe Flowers Foods is a great home for Simple Mills, and we look forward to watching the Company's continued success."
Piper Sandler and Centerview Partners served as the financial advisors and Kirkland & Ellis LLP served as legal counsel to Vestar on the transaction.
About Vestar Capital Partners
Vestar Capital Partners is a leading
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SOURCE Vestar Capital Partners
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