Peapack Private Investment Banking Advises on the Sale of Randall Farms

Rhea-AI Summary

Peapack-Gladstone Financial Corporation (PGC) announces its investment banking division's successful advisory role in the sale of Randall Farms to Highview Capital. Randall, a leading processor of value-added meat products since 1952, will benefit from this acquisition through growth and geographical expansion. The financial terms remain undisclosed, but the deal signifies continued momentum in the food sector. Peapack’s expertise in guiding family-owned businesses was highlighted by Randall's owner, emphasizing the firm's strong reputation in the food industry.

Positive

• Successful advisory in the sale of Randall Farms enhances Peapack's reputation.
• The transaction is expected to enable Randall Farms' growth and expansion.

Negative

• None.

Bedminster, NJ, Feb. 10, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and its investment banking division, Peapack Private Investment Banking, is pleased to announce its participation in the sale of its client, Randall Farms, (“Randall”), a preeminent processor of value-added protein products, to Highview Capital. Randall partners with leading grocery store chains on the west coast to provide all types of processed and value-added meats, including a variety of fresh prepared meals and marinated, ready-to-cook offerings. Randall has been family owned and operated since 1952 and prides itself on its superior customer service and high-quality fresh product offerings. This transaction will allow for continued growth and geographic expansion. Highview Capital LLC is a private equity fund headquartered in Los Angeles, CA. The financial terms of the deal were not disclosed. Peapack Private Investment Banking acted as the exclusive financial advisor to Randall Farms in this transaction. 

Randall Farms owner, Stan Bloom, stated, “Kevin Bodnar and the team at Peapack Private Investment Banking provided exceptional and thoughtful guidance and support.  Their knowledge of the food industry and sensitivity to the objectives of our owners and employees resonated with us.”

This deal represents another successful transaction in the food and beverage space for Peapack Private Investment Banking.  The group has also recently advised a prominent family office in its stalking horse bid of a significant food retailer, as well as managed an acquisition program for a nationally recognized food brand. The team continues to see momentum in the food sector and is expecting to be in market with several well-known food enterprises later this year.

Kevin Bodnar, Head of Corporate Advisory at Peapack Private Investment Banking said, “Our experience assisting family-owned, privately held businesses and evaluating strategic alternatives, coupled with our intimate knowledge of the food and beverage business, was a perfect formula to assist Randall’s owners.”

Established in 2019, Peapack Private Investment Banking offers a full range of corporate advisory solutions to middle market companies and their owners, across all major industry sectors. The team specializes in taking a relationship-first approach in every interaction, while providing senior leadership with independent advice.  This includes merger and acquisition advisory support, evaluation, and assistance with accessing alternative capital markets, evaluation of strategic alternatives to maximize shareholder value, succession planning and customized structured finance, asset-based and/or enterprise value financing solutions. 

Peapack Private Investment Banking deal team contacts include Kevin Bodnar, Head of Corporate Advisory, (908) 443-5385, Sikander Agha, Vice President, (908) 947-5421 and Matthew Luczyk, Vice President, (908), 393-7380.

About Randall Farms

Randall Farms is a leading provider of poultry and meat solutions throughout California, the Pacific Northwest, Arizona, and New Mexico. Randall was built with two principles in mind: make a quality product and provide the best customer service possible. The Company’s management and employees are committed to these principles daily. For more information, visit www.randallfoods.com

About the Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $5.9 billion and assets under management and/or administration of $8.8 billion as of December 31, 2020.  Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative wealth management, investment banking, commercial and retail solutions, including residential lending and online platforms, to businesses and consumers.  Peapack Private, the Bank’s wealth management division, offers comprehensive financial, tax, fiduciary and investment advice and solutions, to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy.  Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service.  Visit www.pgbank.com and www.peapackprivate.com for more information.

Contact:  Denise M. Pace-Sanders, Senior Vice President Brand and Marketing Director, dpace@pgbank.com, 908.470.3322, Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, NJ 07921.

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FAQ

What recent transaction did Peapack-Gladstone Financial Corporation (PGC) announce?

Peapack-Gladstone Financial Corporation announced its advisory role in the sale of Randall Farms to Highview Capital.

Who acquired Randall Farms and what is its background?

Randall Farms, a processor of value-added meat products established in 1952, was acquired by Highview Capital.

What are the benefits of the Randall Farms sale for Peapack-Gladstone Financial Corporation?

The sale enhances Peapack's reputation in investment banking and demonstrates its capabilities in facilitating growth for family-owned businesses.

What is the financial status of Peapack-Gladstone Financial Corporation?

As of December 31, 2020, Peapack-Gladstone Financial Corporation had total assets of $5.9 billion.

How does this deal fit into Peapack's strategy in the food sector?

This deal represents ongoing momentum in Peapack's food and beverage advisory services, expecting more transactions in the sector soon.