Levy Capital Partners Announces Completion Of Transactions For Norbest
NEW YORK, Sept. 2, 2015 /PRNewswire/ -- Levy Capital Partners, LLC, a new merchant banking firm specializing in M&A and financings for leading growth companies, announced that it has completed financing and related transactions for its client Norbest, Inc., a leading grower, processor and marketer of turkeys. In the transaction, J.D. Heiskell Holdings LLC ("Heiskell") and AMERRA Capital Management, LLC ("AMERRA") each acquired minority interests in a newly formed company named Norbest, LLC ("Norbest") which will own substantially all of the assets of Norbest, Inc. and Moroni Feed Company. The remaining equity in the new company will continue to be owned by the 37 turkey growers who previously owned Moroni Feed Company.
Matthew Cook, Chief Executive Officer of Norbest, commented, "We are excited to partner with both Heiskell and AMERRA given their deep knowledge of the agricultural markets and food supply chain. As Norbest pursues a new phase of growth and expansion to meet our customers' demand for top quality, healthy turkey products, we are excited to have partners who are committed to Norbest's future success."
Gary Cox, former Chairman of Norbest, Inc. and Moroni Feed Company, commented, "We would like to thank Levy Capital Partners for the outstanding work they did for our company. The firm provided not only top-tier advice and investment banking capabilities, but also an intense level of focus every step of the way. Their dedication to our objectives enabled us to achieve the best possible outcome for our shareholders."
"We are pleased to have orchestrated a transaction that enables Norbest to address its key shareholder objectives," said Michael Levy, Managing Partner of Levy Capital Partners. "The transaction provides Norbest with capital to support the company's expansion initiatives, and we believe the partnership with Heiskell and AMERRA will augment the company's opportunities for growth and value-creation in the future."
Specific terms of the transaction were not disclosed. Norbest, Inc. was advised by Levy Capital Partners in connection with this transaction.
About Levy Capital Partners, LLC. Levy Capital Partners is a recently formed merchant banking firm that combines top-tier investment banking capabilities with an intense focus on enhancing value and achieving client objectives. The firm focuses primarily on small-cap, mid-cap and private companies with significant potential for value-creation, working closely with senior management teams, owners and boards. Levy Capital Partners has deep experience across sectors, situations and transaction types, from tactical and transformational M&A, to growth capital, to distressed situations requiring complex solutions. Additional information can be found at www.levycp.com. Member FINRA, SIPC.
About Norbest's New Partners. J.D. Heiskell Holdings LLC [dba J.D. Heiskell & Co.] (www.heiskell.com) is a privately held, professionally managed commodity trading and livestock feed manufacturing enterprise conducting business across the breadth of the continental United States, Mexico, and the Pacific Rim. Heiskell was identified by Forbes magazine in 2014 as number 75 of the top 250 privately-held companies in the United States.
AMERRA Capital Management, LLC is a New York-based agribusiness asset manager with over $1 billion in AUM. AMERRA deploys capital supporting growth-oriented agribusinesses around the world.
About Norbest, LLC. Headquartered in Moroni, Utah, Norbest, LLC grows, processes and markets whole turkeys and value-added turkey products. It is one of the top turkey marketing firms in the United States, and, until recently changing corporate structures, was the oldest cooperative turkey-growing organization of its type in the world. Norbest offers a full line of turkey products, including whole birds, bone-in breasts and boneless roasts for both retail and food service, ground turkey, turkey steaks, cooked, roasted, and smoked deli breasts, turkey ham, and a host of other fine products.
SOURCE Levy Capital Partners, LLC
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