CHICAGO – April 18, 2012; City Capital Advisors, a results-oriented investment banking firm serving the middle market, announced today that it advised MarketFare Foods, LLC in the sale of the company to Greencore Group plc, a transaction led by City Capital Managing Directors Rachel Corn Kluge and Barry Craig.
About MarketFare Foods
MarketFare is a leading manufacturer of food to go products for convenience and small stores in the U.S. It’s principal customer is 7-Eleven, which it has partnered for over 20 years, and it is the largest single supplier of Fresh to Go and 7-Smart store branded sandwiches, servicing over 1100 7-Eleven stores in the Mid-Atlantic region. In addition, it is an exclusive manufacturer of Casa Buena Cheese and Chili sauces for the entire 7-Eleven chain in the U.S. and Canada.
Commenting on the Acquisition, Patrick Coveney, Chief Executive Officer of Greencore Group plc, said: “The acquisition of MarketFare represents an excellent opportunity for us to further develop our food to go business in the U.S. building on the successful acquisition of On a Roll in December 2010. It builds an additional scale with 7-Eleven, provides new competencies for us in the fast growing food to go category and extends our geographic footprint principally along the Eastern seaboard. The new product capability and geographic expansion provide the opportunity to expand further with our existing customers; the Acquisition represents our next step in our strategy to build a business of real scale in the US.”
About Greencore Group plc
Greencore Group plc is a leading international manufacturer of convenience foods. It has 20 convenience foods manufacturing sites in the UK and the US; and employ in the region of 11,000 people.
The Convenience Foods Division provides a wide range of chilled, frozen and ambient foods to major retail, manufacturing and foodservice customers in the UK and Ireland, as well as many in Continental Europe, the US and beyond. The Division consists of seven manufacturing category businesses comprising 16 sites in the UK and four in the United States. It also operates a UK nationwide chilled van distribution fleet to service individual outlets.
About City Capital Advisors
City Capital, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s professionals have successfully advised clients on investment banking transactions totaling in excess of $60 billion.