Harris Williams & Co. Advises Deep River Snacks® on its Sale to Arca Continental
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Deep River Snacks® (Deep River) on its sale to Arca Continental (AC), the second largest Coca-Cola bottler in Latin America and parent company of Wise Snacks in the U.S. Deep River is a premium provider of better-for-you snacks with nationwide distribution and sales of approximately $45 million per year. The transaction was led by Glenn Gurtcheff and Ryan Freeman of Harris Williams & Co.’s Consumer Group.
“First and foremost, Deep River’s products are amongst the best tasting salty snacks in the market. Where Deep River is truly differentiated is in its mission to ‘give a chip.’ The company cares deeply about the quality of its products, offering great tasting better-for-you alternatives to traditional salty snacks. More importantly, Deep River also shares its founder’s passion for giving back, donating a significant portion of its profits to charity in order to raise awareness for organizations that are important to the company’s employees,” said Ryan Freeman, a director at Harris Williams & Co.
“When I started Deep River Snacks 15 years ago, I wanted to prove that a business could be both successful and philanthropic,” said Jim Goldberg, founder and chief executive officer of Deep River, in a statement to the company’s customers. “Through our mantra, ‘Because We Give a Chip,’ we’ve created the best tasting snacks using real, non-GMO ingredients. But Deep River has become so much more than a bag of chips. The brand has become a platform to raise awareness for the organizations that have touched the lives of my family, friends and co-workers. We’ll never stop giving a chip and now, with AC’s backing, we’ll be able to have an even bigger impact in communities across America.”
By partnering with AC, Deep River has a platform from which to scale rapidly from both an innovation and distribution standpoint. The acquisition is also a meaningful addition for AC, which is now well positioned in the U.S. in both the conventional salty snack segment with its Wise and Cheese Doodles brands and the growing better-for-you segment with the Deep River and HONCHOS brands.
“Consistent with AC’s profitable growth and long-term vision, we continue to expand our investment in complementary businesses in the United States, hand in hand with a company that shares our core values and sense of social responsibility,” said Manuel L. Barragan Morales, chairman of the Board of Directors of AC.
Deep River is passionate about creating great tasting snacks that are made from ingredients anyone can feel good about eating. Committed to its mission of “giving a chip,” the company has created an extensive line of kettle cooked potato chips and HONCHOS™ organic seasoned tortilla chips. All of its products have non-GMO ingredients, are Certified Gluten Free, cooked exclusively in sunflower oil, and are Kosher and nut-free. Since its founding in 2002, the company has been passionate about supporting charity and features a non-profit organization on each of its bags, while committing 10 percent of profits to charity.
AC is dedicated to the production, distribution and sale of non-alcoholic beverages that are brand names of The Coca-Cola Company, as well as salty snacks under the brands of Bokados in Mexico, Inalecsa in Ecuador and Wise in the U.S. With an outstanding track record of more than 91 years, AC is the second largest Coca-Cola bottling company in Latin America and one of the most important in the world. Within its Coca-Cola franchise, the company serves a population of more than 118 million in the northern and western parts of Mexico as well as Ecuador, Peru, the northern region of Argentina and the Southwestern U.S. AC is listed on the Mexican Stock Market under the ticker symbol "AC."
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.