CHARLOTTE, N.C., May 4, 2017 /PRNewswire/ -- Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Kar Nut Products Company (Kar's), a Madison Heights, Michigan-based manufacturer of trail mixes and various snack nut products, in its recapitalization with a New York-based private equity firm. Founded in 1933, Kar's has operated as a family-owned business for more than 80 years. The transaction closed March 31, 2017.
"The Kar's team's success in building a top trail mix player in a rapidly growing snack category provided a strong platform for further market opportunities and growth," said Lorin DeMordaunt, managing director, Deloitte Corporate Finance LLC. "Advising a company with such rich history through an important milestone was gratifying."
"Deloitte Corporate Finance acted as a true advisory partner to Kar's. As I considered the right time to embark on a transaction, they provided invaluable advice, guidance and patience, allowing me to set the timetable. When we ultimately began the transaction process, Deloitte Corporate Finance's strong food and beverage experience enabled them to clearly articulate the strength of the Kar's and Second Nature brands to interested parties. We are extremely excited with our new partner and look forward to the next stage of Kar's growth together," said Nick Nicolay, president and CEO of Kar Nut Products Company.
About Kar Nut Products Company
Founded in 1933, Kar Nut Products is North America's leading manufacturer of branded trail mix, marketed under the nationally-recognized Kar's and Second Nature brands. With manufacturing facilities in Michigan, Kar's offers a broad portfolio of products, including traditional value-oriented trail mixes and nuts, as well as premium, all-natural trail mixes and nuts through an extensive retail and distribution network throughout the United States. Over the course of more than 80 years, Kar's has produced healthy and convenient snack products with a range of taste profiles to satisfy consumers across the value spectrum. For more information, visit www.karsnuts.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, DCF advises clients in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.
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