Harris Williams Advises B&W Quality Growers, LLC on its Sale to Blue Road Capital

July 10, 2019

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised B&W Quality Growers, LLC (B&W), a portfolio company of Boyne Capital Partners (Boyne), on its sale to Blue Road Capital (Blue Road). B&W is one of the world’s largest growers of distinctive baby leaves including watercress, arugula and other specialty leafy greens. The transaction was led by Tim Alexander, Brant Cash, Andy Warczak and Ryan Ghazaeri of Harris Williams’ Consumer Group.

“B&W has experienced tremendous growth under Boyne’s ownership, and we are proud to represent the company and Boyne on this transaction,” said Tim Alexander, a managing director at Harris Williams. “We look forward to seeing B&W’s bright future in the foodservice and retail channels as chefs and consumers alike continue to demand more nutritious and flavorful food and become increasingly aware of superfoods like watercress.”

“Suppliers that bring innovation to chefs and simplify operations in the kitchen are winning in today’s market.  The quality that consumers expect at five-star restaurants is also making its way into the grocery store and companies like B&W are benefitting,” said Brant Cash, a managing director at Harris Williams. “Investor appetite in the food industry continues to be robust, and companies exhibiting steady growth over the long term and across multiple channels truly stand out.”

Founded in 1870, B&W is one of the world’s preeminent vertically-integrated producers of distinctive baby leaves, including watercress, arugula and other specialty leafy greens. Headquartered in Fellsmere, Florida with three processing facilities in three states and farming operations that span eight states, B&W grows, packs and ships quality products to foodservice, retail, wholesale and specialty channels year-round. The company is committed to smart, sustainable farming techniques and is GLOBAL G.A.P. certified, meaning it complies with the voluntary worldwide standard for ensuring safe, sustainable agricultural practices.

Boyne is a Florida-based private equity firm focused on investments in lower-middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, and business and financial services, among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners’ and shareholders’ partial or full exit.

Blue Road is an independent private equity firm focused on the acquisition and development of agricultural-focused businesses. Blue Road makes control investments in Americas-based agricultural and food / ingredient supply chain and production companies, partnering with management teams to build enterprise value beyond intrinsic underlying asset value. Blue Road’s management partners have an extensive track record of over 60 combined years investing in private equity and agriculture-focused businesses, including having raised and invested over $2 billion in equity in companies across the agriculture value chain, from production, processing, storage and logistics to marketing and distribution.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ Consumer Group has completed more than 60 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’ Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd 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 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.