spring 2016 - investment bankers | seattle...

Meridian Capital Consumer M&A Snapshot – Spring 2016

M&A Outlook

Twice a year, Meridian Capital publishes its Consumer Newsletter, which

focuses on key trends in middle market consumer M&A. In addition to covering

general consumer industry trends, the Spring 2016 Newsletter provides in-depth

analysis of four key consumer segments: 1) housewares, 2) food & beverage,

3) apparel, accessories and footwear, and 4) outdoor and recreation.

As we enter 2016, the underlying economic fundamentals remain solid despite

a weak and promotional holiday season. The backdrop of the upcoming

election and questions about further interest rate increases by the Fed will

create uncertainty in the stock market, but that should not affect the appetite of

strategic buyers, who still have very large cash reserves and no better options

for growth apart from acquisitions. We expect that 2016 will be another solid

year for M&A, with valuations holding up while interest rates remain relatively

low and debt financing options abundant. Shareholders who have been

considering growth, financing and/or ownership transition objectives should

review them now, given a likely cyclical downturn in the next 2-3 years.

www.meridianllc.com | 1809 Seventh Avenue Suite 1330, Seattle, WA 98101 | T: 206.622.4000 | F: 206.623.8221

Meridian Capital Consumer Team

Chuck Wilke

Founder and Managing Director

206.224.6151

[email protected]

Brian Murphy

Managing Director

206.224.6156

[email protected]

Patrick Ringland

Managing Director

206.224.6155

[email protected]

Geoff Haydon

Director, Co-Head of Consumer

Products

206.582.3894

[email protected]

Kristin Brandtner

Vice President

206.453.6817

[email protected]

Spring 2016

www.meridianllc.com


2

Positive Economic Trends Drive Increased Consumer M&A Activity

During 2015, 3,323 consumer products transactions

were announced in the U.S., representing an

aggregate disclosed value of $376 billion. The

number of transactions was up 4% compared to

2014 and aggregate disclosed value was up 13%.

Notable consumer transactions in 2015 included the

$55 billion acquisition of Kraft Foods by Heinz, the

$28 billion acquisition of Lorillard by Reynolds, and

the $19 billion acquisition of Jarden by Newell

Rubbermaid.

Both strategic and financial buyers are seeking to

capitalize on the growth in the consumer products

industry and are highly acquisitive, driving strong

valuations. Transaction motivations include

increasing presence in high growth segments,

expanding geographic reach, vertical integration,

and access to new customers via strong,

established brands.

Key Consumer Industry Trends

The Rise of Craft

In the wake of the global recession, consumers

have exchanged their interest in massive brands for

craft products, whether they be craft beer/spirits,

goods from farmers markets or handmade items

purchased online. Websites such as Etsy cater to

this shift in consumer preferences. Large

companies can also cash in on this trend,

particularly in segments such as beer/spirits, where

industry leaders own niche brands (for example craft

beer brand Blue Moon, which is owned by Miller

Coors). According to consumer trend consultant

Jenny Zegler, “Niche is no longer a limitation, nor is

it an opportunity reserved for small companies.

We’ve entered an era where the power of the story

and the authenticity of the connection supersedes

any lofty moral aspirations such as ‘shopping small.”

Internet of Things

One of the fastest growing industries in the

consumer sector is the Internet of Things (“IoT”)

ecosystem. Based on sensors which collect data

and enable machines to talk to one another, the IoT

trend is expected to have a significant effect on

consumers in the coming years. Companies such

as Nest are changing the way consumers interact

with machines inside and outside of the home.

Retailers are beginning to utilize IoT technology in

stores by having in-store devices automatically ring

up customers, track real-time shopping behaviors,

and send tailored offers to customers. A recent

study by McKinsey found that the uses of IoT in

retail could have an economic impact of $410 billion

to $1.2 trillion per year in 2025.

Consumer M&A Snapshot: Key Industry Trends

Sources: Pitchbook, CapitalIQ, University of Michigan Survey of Consumers, IBIS, Mintel, Vend.

U.S. Monthly Consumer Confidence Index

40.0

50.0

60.0

70.0

80.0

90.0

100.0

Jan

-08

Jul-

08

Jan

-09

Jul-

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Down 6%+ YOY for Jan-16

$-

$1

$2

$3

$4

$5

$6

2010 2011 2012 2013 2014 2015

$ in M

illio

ns

U.S. Annual Craft Beer Revenue

www.meridianllc.com


3

The Housewares market experienced a slight

decline in M&A activity in 2015, with 71 housewares

transactions announced globally, compared to 82 in

2014. Despite a slight decline in activity, 2015 was

notable for Jarden’s $1.3 billion acquisition of

Waddington, a maker of plastic food-service

products such as single-use drinkware and

dinnerware, and Jarden’s subsequent sale to Newell

Rubbermaid for $15 billion. The combined

company, to be named Newell Brands, brings

together a complementary set of brands such as

Newell’s Rubbermaid, Contigo and Calphalon

brands and Jarden’s Oster, Crock-Pot and

Sunbeam brands. The combination of these

companies creates a $16 billion revenue business

which will have more leverage with large customers

such as Walmart.

Housewares Industry Trends

Blurring Boundaries between Housewares and

Home Furnishings

As 20-somethings continue to postpone marriage or

forgo the rite altogether, housewares manufacturers

have had to adjust to a world with fewer wedding

registries. One of the biggest shifts has been

towards giftware and other home products. The

clear increase in participation at giftware trade

shows by traditional housewares companies is a

good indication of this trend. Housewares brands

are also relying on improved product packaging to

stand out in an increasingly competitive market.

Rise of Shark Tank and Crowdfunded Products

Shark Tank and crowdfunding sites such as

Kickstarter and Indiegogo are increasingly providing

strong launchpads for new, niche housewares

products. Scrub Daddy, a new kind of kitchen

sponge, went from startup to $35 million in revenue

in just over a year as a result of exposure on Shark

Tank. Cooler company Coolest raised more than

$13 million in donations on Kickstarter in only 52

days, helping the founder realize his vision of

creating a premium cooler with extensive

functionality such as a built-in blender, Bluetooth

speaker, and USB charger, among other innovative

features.

Consumer M&A Snapshot: Housewares Spotlight

Sources: Capital IQ, Home World, Company and Investor Press Releases, Meridian Research, Home Fashion Forecast.

$13.2M

$12.5M$20.3M

Kickstarter Indiegogo

Top Crowdfunded Products 2014/15

Notable Acquisitions

Dec-15 Jul-15 $10.2M$6.1M

www.meridianllc.com


4

M&A activity in the Food and Beverage sector was

up in 2015, with 370 announced transactions in the

U.S. compared to 341 in 2014. Aggregate disclosed

transaction value was up more than 60%, growing

from $63 billion in 2014 to $100 billion in 2015,

primarily as a result of the acquisition of Kraft Foods

by Heinz for $55 billion. Other notable transactions

include the $12 billion acquisition of the remaining

58% stake in Miller by Molson Coors, and the $14

billion acquisition of Keurig Green Mountain by JAB

Holdings, the investment vehicle of the Swiss-based

Joh A Benckiser family. JAB also owns controlling

interests in Peet’s Coffee and coffee chain Caribou

Coffee.

Food and Beverage Industry Trends

Growth of Plant Based Protein

Plant based proteins have surged in popularity as

health concerns and the rising cost of animal-based

proteins have pushed consumers towards plant

based diets. The global protein market was

expected to reach $24.5 billion in 2015, and the

fastest growing sector is plant-based proteins.

These products are considered more sustainable

than animal-based proteins and have become

increasingly popular as more consumers are

concerned with their health. The Paleo diet has also

contributed to this trend through its advocacy of lean

protein. Products such as pea protein and hemp

proteins are becoming popular, and more products

continue to come to market which offer the balance

of health benefits and sustainability which

consumers are craving.

Movement Toward Dairy-Free Milk and Creamer

Alternatives

The movement of consumers away from dairy

toward milk alternatives and other dairy-free

products continues to be a major trend. Dairy has

been on a multi-decade decline, with consumers

increasingly choosing to opt for dairy-free options as

a response to lactose intolerance as well as general

health purposes. The past several years have seen

a decline in soy-based products and a rapid

increase in almond and coconut products. Brands

such as Nutpods, which makes a dairy-free creamer

from almonds and coconuts, are growing rapidly as

the healthy dairy-free creamers proliferate and take

shelf space from traditional creamer brands such as

Coffee-Mate and International Delight.

Consumer M&A Snapshot: Food and Beverage Spotlight

Sources: CapitalIQ, Midwest Dairy, Meridian Research.

Almond Milk, 66.2%

Coconut Milk, 6.3%

Other, 3.1%

Cashew, 3.0%

Soy Milk, 20.3%

Rice Milk, 1.0%

Dairy-free Milk Alternatives Market Share

2015 YTD

(Through 10/4)

Vol. Sales

(Million Gallons)

Vol. %

Change

Non-Dairy Bev. 183.6 +6.1%

Almond 121.5 +7.9%

Soy 37.3 -8.6%

Coconut 11.6 +10.4%

Other 5.7 -16.4%

Cashew 5.6 +999.9%

Rice 1.9 -12.2%

www.meridianllc.com


5

M&A activity in the Apparel, Accessories and

Footwear sector was up in 2015, with 93 announced

transactions in the U.S. compared to 81 in 2014.

Notable transactions included the acquisition of

women’s specialty retailer Ann Inc. (Ann Taylor) by

Ascena Retail Group (Lane Bryant, Dress Barn) for

$2.2 billion and the acquisition of women’s footwear

company Stuart Weitzman by Coach for $575

million. The acquisition of Ann Inc. positions

Ascena as the largest women’s-focused specialty

retailer and broadens its brand mix to cover women

of all ages and sizes. The acquisition of Stuart

Weitzman by Coach is a way for the brand to

diversify away from its core handbag business,

which has suffered in recent years at the hands of

rivals such as Michael Kors and Kate Spade.

Apparel, Accessories and Footwear IndustryTrends

Athleisure Still Going Strong

The multi-year trend towards athleisure shows no

signs of slowing down, with more and more brands

creating athletic-inspired parts of their lines in hopes

of capitalizing on the trend. As athleisure products

proliferate, we expect the most authentic brands

such as Lululemon, Athleta, prAna and Beyond

Yoga to continue to dominate, as consumers

gravitate towards established, trusted brands.

Wearable Tech Is The Next Frontier In Fashion

If you haven’t included a biometric sensor in your

clothing or footwear yet, you’re living in 2013.

Wearable tech is the next big fashion trend, and

both apparel and tech companies are racing to

capitalize on it. Companies such as Fitbit have built

a large business around people’s obsession with

measuring their every step, heartbeat and sleep

cycle to improve health and well-being. Apple’s

collaboration with Hermes on the special edition

Apple Watch is a perfect example of how technology

companies acknowledge they need to partner with

fashion brands to make products relevant to brand-

oriented consumers. One of the big questions in

wearable tech is when, and if, smart watches will

replace fitness tracking devices, or whether they can

truly coexist.

Licensing/Brand Management Companies – The

New Strategic Acquirers

Licensing and brand management companies

continue to succeed in taking established, in some

cases tired brands, and reinvigorating them for the

masses. Companies such as Iconix and Authentic

Brands have greatly increased the options sellers

have by providing a viable alternative to traditional

strategic acquirers. Ideal targets for these

companies are brands which have some relevance

and name recognition to the mass market, and

ideally still have some cachet to be leveraged. Even

VF Corp. has gotten into the game, acquiring denim

company Rock & Republic, known for its $200+

pairs of premium denim, and subsequently doing an

exclusive deal with Kohl’s where R&R’s products

now sell for $50 or less.

Consumer M&A Snapshot: Apparel, Accessories and Footwear Spotlight

Sources: IBIS World, Capital IQ, Press Releases, Business Insider.

www.meridianllc.com


6

Consumer M&A Snapshot: Outdoor and Recreation Spotlight

M&A activity in the outdoor and recreation sector

increased in 2015, with 50 transactions announced

in the U.S. compared to 41 transactions in 2014,

although aggregate announced transaction value

decreased from $521 million to $424 million.

Notable transactions in 2015 included Confluence

Outdoor’s acquisition of stand up paddle brand

Boardworks, Dutch conglomerate PON’s acquisition

of Santa Cruz mountain bikes, and sleeping bag

manufacturer Exxel Outdoors’ merger with American

Recreation Products, owner of backpack brands

Kelty and Sierra Designs.

Outdoor and Recreation Industry Trends

Racing and Water Sports Leading Growth

Participation in racing, particularly adventure racing

and off-road triathlons, has increased significantly

over the past three years. These two activities have

seen the largest increases in participation of any

outdoor activity, growing 38% and 34%,

respectively. Adventure racing includes long

distance team events such as the Ragnar Race and

has some overlap with the rapidly growing obstacle

race sector, which includes events such as Tough

Mudder and Spartan Race. The increase in

participation in off-road triathlons seems to correlate

with the rise in adventure racing.

Interestingly, the waning of the “barefoot” trend in

footwear and increased interest in thick soled

product produced by brands such as Hoka One One

has coincided with the large increases in racing

participation.

Stand up paddling (“SUP”) and kayak fishing have

also seen large increases in participation over the

past three years, growing 31% and 20%

respectively. SUP has been the fastest growing

sector of outdoor for several years and shows no

sign of slowing. SUP has been somewhat limited in

its ability to grow by the difficulty of storing large

boards, particularly in Europe and Asia, but the rise

of inflatable models appears to have bridged that

gap in the eyes of consumers. There has also been

a large increase in kayak fishing (and SUP fishing),

a trend which has tapped into consumers’ desire to

avoid crowded fishing spots and get into the water

faster and with less cost.

Camping and snow sports have seen the largest

decreases in participation in recent years, declining

3-5% during that time. A decreased interest in

camping by young adults has driven the decline, as

consumer electronics technology such as

smartphones and tablets have led to a decreased

interest in being outdoors. A lack of snowfall the

past several seasons has hurt the snow sports

industry.

Sources: Capital IQ, Press Releases, OIA, Meridian Research.

Bicycling$10.5

Camping$18.6

Fishing$9.7

Hunting$8.5

Motorcycling

$10.0 Off-Roading

$13.2

Snow Sports

$7.7

Trail Sports$12.2

Water Sports$19.4

Wildlife Viewing

$10.7

U.S. Outdoor Product Sales 2014

Total = $120.5B

($ in Billions)

www.meridianllc.com


7

Q1'12

Q2'12

Q3'12

Q4'12

Q1'13

Q2'13

Q3'13

Q4'13

Q1'14

Q2'14

Q3'14

Q4'14

Q1'15

Q2'15

Q3'15

Q4'15

EV/EBITDA 10.6x 10.7x 11.0x 10.7x 11.5x 12.3x 12.2x 12.4x 11.9x 12.0x 12.2x 12.2x 12.6x 12.3x 12.4x 12.7x

EV/Revenue 1.8x 1.9x 1.9x 1.9x 2.0x 2.1x 2.1x 2.2x 2.1x 2.3x 2.3x 2.3x 2.4x 2.4x 2.5x 2.5x

0.0x

0.5x

1.0x

1.5x

2.0x

2.5x

3.0x

0.0x2.0x4.0x6.0x8.0x

10.0x12.0x14.0x

Sources: Capital IQ

Food and Beverage

Apparel, Accessories and Footwear

Consumer M&A Snapshot: Public Valuations

*Created from an index of 30 publicly-traded apparel, accessories and footwear companies

*Created from an index of 18 publicly-traded food and beverage companies

Q1'12

Q2'12

Q3'12

Q4'12

Q1'13

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0.0x

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0.0x

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1.5x

2.0x

2.5x

0.0x2.0x4.0x6.0x8.0x

10.0x12.0x14.0x16.0x

Housewares

*Created from an index of 7 publicly-traded housewares companies

Q1'12

Q2'12

Q3'12

Q4'12

Q1'13

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0.0x

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0.0x2.0x4.0x6.0x8.0x

10.0x12.0x14.0x16.0x

Outdoor and Recreation

*Created from an index of 30 publicly-traded outdoor and recreation companies

www.meridianllc.com


8

Date Target Description Buyer Purchase

Price (M)

Dec-15 The Marena Group, LLC Manufactures and sells compression

garments for men and women.

The Riverside Company N/A

Nov-15 Bernard Chaus, Inc. Designs, manufactures, and markets

women’s apparel.

Camuto Group, Inc. N/A

Nov-15 PS Brands, LLC Designs, manufactures, and distributes

private label, branded, socks, legwear,

and related accessories.

GBG USA, Inc. $130.0

Nov-15 Le Tigre, LLC Manufactures and distributes

sportswear.

Infinity Group - Holding Company, LLC; Hilco Brands,

LLC

N/A

Nov-15 Tailgate Clothing Co. Designs and manufactures clothes for

sports fans.American Eagle Outfitters, Inc. (NYSE:AEO) $11.0

Oct-15 Madison All 4 You LLC Manufactures custom apparel. Riddell Sports Group, Inc. N/A

Oct-15 Shoes For Crews, LLC Designs and manufactures slip-resistant

footwear.

CCMP Capital Advisors, LLC N/A

Sep-15 Incase Designs Corp. Designs and creates protection and

mobility products.

Incipio Technologies, Inc. N/A

Sep-15 Joe's Jeans Inc., Joe's Brand and Related Operating

Assets

Brand of apparel and footwear. Sequential Brands Group, Inc. (NasdaqCM:SQBG) $69.5

Aug-15 Elite Sportswear, L.P. Manufactures gymnastics apparel. The Riverside Company N/A

Aug-15 Ambre Industries, LLC Manufactures and markets jewelry and

handbags.

Aries Capital Partners N/A

Jul-15 Loomworks Apparel, Inc. Manufactures and distributes loungewear

and intimates.

Delta Galil USA Inc. $40.8

Jul-15 Ben Sherman Limited and Ben Sherman Clothing

LLC

Manufacture apparel and footwear. Marquee Brands LLC $63.7

Apparel, Accessories and Footwear

Sources: Capital IQ

Consumer M&A Snapshot: Select Recent Transactions


Price (M)

Feb-16 Prime Pork Supplier of premium quality beef. Taylor Corporation N/A

Feb-16 Panos Brands, LLC Provides specialty food and beverage

products.

Hammond, Kennedy, Whitney & Company Inc. N/A

Jan-16 Food Source, LP Custom frozen food manufacturer and

co-packer.

Blount Fine Foods Corp. N/A

Jan-16 EPIC Provisions LLC Manufactures and sells meat-based

protein bars

Annie's, Inc. N/A

Dec-15 Cocoa Dolce Chocolates, LLC Produces chocolates, chocolate mixes

and powders, and cocoa products.

Birds Eye Holdings, LLC N/A

Dec-15 Breckenridge Holding Company Produces and sells craft beers, micro

brews, and ales.

Anheuser-Busch Companies, LLC N/A

Dec-15 Four Peaks Brewing Company, Inc. Engages in the production of beers. Anheuser-Busch Companies, LLC N/A

Dec-15 Rutherford Wine Studios, LLC Operates a winery. E. & J. Gallo Winery, Inc. N/A

Dec-15 Keurig Green Mountain, Inc. (NasdaqGS:GMCR) Produces and sells coffeemakers and

specialty coffee.

Acorn Holdings B.V. $14,253.3

Nov-15 Berner Food and Beverage Inc. Produces and supplies food and

beverage products.

Peak Rock Capital N/A

Nov-15 Boulder Brands, Inc. Provides health and wellness food

solutions.

Pinnacle Foods Inc. (NYSE:PF) $991.4

Nov-15 DairiConcepts, L.P. Formulates and manufactures cheese

and dairy ingredients.

Dairy Farmers of America, Inc. $126.1

Nov-15 MillerCoors LLC Produces, sells, and distributes beers. Molson Coors Brewing Company (NYSE:TAP) $12,019.1

Nov-15 Ralcorp Holdings Inc. Engages in manufacturing, distributing,

and marketing private brand food

products.

Treehouse Foods, Inc. (NYSE:THS) $2,700.0

Oct-15 Intelligentsia Coffee & Tea, Inc. Coffee roaster. Peet's Coffee & Tea, Inc. N/A

Oct-15 Diamond Foods, Inc. (NasdaqGS:DMND) Engages in processing, marketing, and

distributing snack products.

Snyder's-Lance, Inc. (NasdaqGS:LNCE) $1,937.8

Oct-15 Stumptown Coffee Roasters, Inc. Coffee roasting company. Peet's Coffee & Tea, Inc. N/A

Food and Beverage

www.meridianllc.com


9

Sources: Capital IQ

Consumer M&A Snapshot: Select Recent Transactions (continued)


Price (M)

Jan-16 Polder International, Inc. Manufactures and markets housewares. Topspin Partners LP N/A

Dec-15 Jarden Corp. (NYSE:JAH) Manufactures, markets, and distributes

consumer products.

Newell Rubbermaid Inc. (NYSE:NWL) $15,400.0

Sep-15 Mikon International Inc Designs and manufactures banquet and

tabletop service products.

G.E.T. Enterprises, LLC N/A

Sep-15 Arthur Court, Inc. Designs and manufactures aluminum

serve ware and table items.

Vagabond Group, Inc. N/A

Aug-15 Epicurean Inc. Manufactures and supplies kitchen tools. Victorinox Swiss Army, Inc. N/A

Jul-15 WNA, Inc. Manufactures, and markets plastic

single-use tableware and packaging

products.

Jarden Corp. (NYSE:JAH) $1,350.0

Jun-15 KIK Custom Products, Inc. Manufactures and distributes household

cleaners.

Centerbridge Partners, L.P. N/A

Apr-15 Reed & Barton Corporation Manufactures and markets tabletop and

home décor items.

EMI, Inc. $22.2

Apr-15 Zep, Inc. Produces and markets cleaning and

maintenance chemicals.

New Mountain Capital, LLC $702.6

Housewares


Price (M)

Jan-16 Triumph Sports USA, Inc. Manufactures gaming products. Escalade Sports, Inc. N/A

Jan-16 Cybex International Inc. Engages in the development,

manufacture, and marketing of fitness

equipment.

Brunswick Corporation (NYSE:BC) $195.0

Jan-16 Easton Hockey, Inc. Manufactures and markets hockey

sticks, skates, protective, accessories

and apparel.

Performance Sports Group Ltd. (TSX:PSG) N/A

Jan-16 Octane Fitness, LLC Manufactures fitness equipment. Nautilus Inc. (NYSE:NLS) $115.0

Jan-16 509, Inc. Manufactures and sells snowmobile gear

products.

Polaris Industries Inc. (NYSE:PII) N/A

Dec-15 PRO-TEC Brand Manufactures and sells helmets, pads,

and other gear products

Bravo Sports Corporation N/A

Dec-15 Alexandria Holdings Corp. Manufactures and markets golf balls, golf

clubs, golf shoes and golf gloves.

- $239.5

Nov-15 FuelBelt, Inc. Manufactures hydration belts and

running accessories.

Implus Corporation N/A

Nov-15 Funko, LLC Designs and markets pop-culture

collectibles.

Acon Investments, L.L.C. N/A

Oct-15 McNett Corporation Manufactures and markets specialty

outdoor products.

Coghlan's Ltd. N/A

Sep-15 Goalsetter Systems, Inc. Manufactures and distributes basketball

hoops.

Escalade Sports, Inc. N/A

Sep-15 Harbinger Fitness, Inc. Manufactures fitness products. Implus Corporation N/A

Jul-15 Onix Sports, Inc. Manufactures equipment for pickle ball. Escalade Sports, Inc. N/A

Jul-15 No Limit Archery, LLC Designs, manufactures, and supplies

archery products.

Plano Synergy Holdings, Inc. N/A

Jul-15 Jimmy Styks, LLC Provides paddle boards. Vista Outdoor Inc. (NYSE:VSTO) $40.0

Jul-15 SCIFIT Systems, Inc. Engages in the manufacture of fitness

equipment.

Brunswick Corporation (NYSE:BC) $10.4

Jul-15 Santa Cruz Bicycles, LLC Designs, manufactures, and sells

mountain bikes.

Pon Holdings B.V. N/A

Jun-15 Bravo Sports Corporation Manufactures recreational and sporting

goods.

One Industries Corp. N/A

Jun-15 Cardinal Industries, Inc. Provides various games. Spin Master US Holdings, Inc. $56.7

Apr-15 American Recreation Products, Inc. Manufactures and sells outdoor

equipment and apparel.

Exxel Outdoors, LLC N/A

Outdoor and Recreation

www.meridianllc.com


10

Designer of eco-friendly

children’s toys

-Acquired By-

Select Recent Consumer Transactions – Meridian Capital

Meridian Capital Overview

Manufacturer of hot tubs

and spas

-Acquired By-

Designer of insulated

beverage and food

containers

-Acquired By-

Branded kitchen tools and

gadgets

-Acquired By-

Manufacturer of private label

apparel and accessories

-Merged With-

Designer of infant bedding

-Acquired By-

Branded athletic shoes

Sold by

-Acquired By-

Weisfeld

Group

Producer of bulk and

bottled juice

-Debt Financing and Strategic-

Advisory

Buy-side Process

• Targeted Buy-Side

• Add-on Acquisitions

• Merger of Equals

• Vertical & Horizontal

Acquisitions

Sales Process

• Strategic Sale

• Minority Sale

• Subsidiary Divestitures

• Succession Planning

Recapitalization

• Management Buy-Outs

• New Growth Capital

• Liquidity Events

• Financial or Strategic

Partner

Strategic Advisory

• Strategic Issues & Projects

• Ownership Transition Plans

• Corporate Finance

Alternatives

• Exit Strategy Assessment

Meridian Consumer Industry Coverage and Services

Designer and distributor of

Christmas ornaments

-Acquired By-

Designer and distributor of

specialty stationery and gift

products

-Acquired By-

Infant frame carriers, totes,

sun hats and accessories

-Acquired By-

Designer of infant and

toddler shoes

-Acquired By-

Juvenile Food & Beverage HousewaresApparel &

Accessories

Outdoor &

Recreation

www.meridianllc.com


11

Chuck Wilke

Founder and Managing Director

206.224.6151

[email protected]

Brian Murphy

Managing Director

206.224.6156

[email protected]

Patrick Ringland

Managing Director

206.224.6155

[email protected]

Geoff Haydon

Director, Co-Head of Consumer

Products

206.582.3894

[email protected]

Kristin Brandtner

Vice President

206.453.6817

[email protected]

Meridian Capital Contacts

spring 2016 - investment bankers | seattle...

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