NEW YORK, Sept. 4, 2014 /PRNewswire/ -- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), a private investment firm with over $2.5 billion in assets under management, today announced that it has completed the sale of Sahale Snacks, Inc. ("Sahale Snacks"), a leading manufacturer and marketer of premium, branded nut and fruit snacks, to The J. M. Smucker Company (NYSE: SJM). The transaction is expected to generate 3.3x cash on cash return for Palladium investors.
Sahale Snacks represents the third major realization by Palladium Equity Partners, LLC of a food-related investment to a strategic buyer in recent years. Palladium previously sold its portfolio company Wise Foods, Inc., the iconic brand and maker of salty snacks, to Arca Continental, S.A.B. de C.V., and Castro Cheese Company, Inc., a leading marketer of queso fresco and other varieties of Hispanic cheeses and creams, to Dairy Farmers of America, Inc.
"We are proud of our partnership with the Sahale Snacks team, which we backed with an initial investment in 2007 and followed with significant additional investments as the company enhanced its operating capabilities and built awareness of its brand," said Yue Bonnet, Vice President of Palladium. "It also is significant that the Sahale Snacks sale represents the second investment exit we have announced thus far this year." In early August, Palladium also agreed to sell its portfolio company ABRA Auto Body & Glass, a leading national provider of damaged vehicle repair services.
About Palladium Equity Partners, LLC.
Palladium is a middle market private equity firm with over $2.5 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, and focuses primarily on buyout equity investments in the range of $50 to $150 million. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on transitioning founder-owned businesses and investing in companies it believes will benefit from the growth in the U.S. Hispanic population. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, L.P. at $1.14 billion, significantly exceeding its target. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
Palladium Equity Partners
Todd Fogarty of Kekst and Company
SOURCE Palladium Equity Partners, LLC