Harris Williams Advises VanLaw Food Products, Inc. on its Sale to Stir Foods
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised VanLaw Food Products, Inc. (VanLaw), a portfolio company of Encore Consumer Capital (Encore), on its sale to Stir Foods, a portfolio company of Wind Point Partners (Wind Point). VanLaw is a leading private label and contract manufacturing partner in the sauce, dressing and condiment categories. The transaction was led by Tim Alexander, Brant Cash, Andy Warczak and Richard Furseth of Harris Williams’ Consumer Group.
“VanLaw has developed strong partnerships with marquee retailers and fast-growing, emerging brands as a result of its leading organic product expertise, product innovation and flexible production capabilities,” said Brant Cash, a managing director at Harris Williams. “VanLaw and Stir are a great strategic fit and the combination will create attractive opportunities for cross-selling and continued growth.”
“This was a great outcome for both VanLaw and Encore,” added Tim Alexander, a managing director at Harris Williams. “Harris Williams’ food and beverage practice is seeing increased strategic buyer activity in today’s market. Industry segments including sauces and dressings are ripe for continued consolidation, and well-positioned sellers will benefit from the strong M&A market.”
VanLaw is one of the largest private label and contract manufacturers of sauces, dressings and condiments in the U.S. The company’s facility in Fullerton, California produces an assortment of custom dressings, sauces, marinades, glazes, beverages and more. VanLaw is capable of supplying a variety of products including organic, gluten-free, vegan and kosher formulations and can develop new formulas in industry-leading time.
Encore is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in committed equity capital and has invested in over 30 platform companies. Encore is currently investing out of its 2016 vintage $260 million Encore Consumer Capital Fund III, LP. The firm targets companies with between $10 million and $100 million in annual revenues where Encore’s strong operating expertise in strategy development, brand marketing and distribution expansion can help drive profitable growth.
Stir Foods, headquartered in Orange, California, is a custom manufacturer of soups, sauces, dressings, fresh salsas and muffin batters for both retail and foodservice customers. Stir Foods was formed through Wind Point’s simultaneous acquisition of Stir Foods and Pacifica Foods in December of 2017.
Wind Point is a Chicago-based private equity investment firm with approximately $2 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors. Wind Point is currently investing out of Wind Point Partners VIII, a $985 million fund that was initiated in 2016.
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: email@example.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.