Harris Williams & Co. Advises CSM Bakery Solutions on its Agreement to Sell BakeMark to Pamplona Capital Management

July 17, 2017

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that CSM Bakery Solutions (CSM) has reached an agreement to sell BakeMark, a leading bakery ingredients distributor, manufacturer and service provider in North America, to Pamplona Capital Management (Pamplona). BakeMark is a subsidiary of CSM, a portfolio company affiliated with Rhône Capital (Rhône). The transaction is being led by Tim Alexander, Brant Cash and Andy Warczak of Harris Williams & Co.’s Consumer Group and Bob Baltimore of Harris Williams & Co.’s Specialty Distribution Group.

“BakeMark’s position as a leading bakery distribution platform made it a highly sought after investment opportunity,” said Tim Alexander, a managing director at Harris Williams & Co. “As an independent company separate from CSM, BakeMark can focus on its unique distribution model and further accelerate its growth.”

“The M&A market is favorable for food ingredient and distribution companies like BakeMark, which is the sixth food and beverage transaction this year executed by Harris Williams & Co.’s Consumer Group,” added Brant Cash, a director at Harris Williams & Co. “Platform food assets that are viewed as safe-havens with organic or acquisition growth opportunities will continue receiving a lot of attention in this market.”

Based in Pico Rivera, California, BakeMark is recognized as an industry leader and trusted partner for quality bakery ingredients, products, supplies and service with over 100 years of service to the baking industry. As a manufacturer and distributor with 25 branches conveniently-located across the U.S. and Canada, BakeMark delivers a complete line of ingredients and supplies, ranging from bakery mixes, fillings and icings, glazes, donut sugar and frozen varieties to flour, sugar, shortening, dairy and egg, packaging and supplies and gourmet chocolate through its exclusive brands: Westco, Trigal Dorado, BakeSense, BakeQwik and C’est Vivant.

Based in Atlanta, Georgia, CSM is a global leader in bakery ingredients, products and services for retail and foodservice markets as well as artisan and industrial bakeries. CSM serves more than 45,000 customers in 100-plus countries and offers a broad portfolio of well-recognized brands providing specialized ingredients (dry mixes, fillings, icings, glazes, mélange, toppings, batter, frozen dough and more) and finished products (cakes, donuts, muffins, brownies, cookies, specialty bread, viennoiserie and more).  CSM’s mosaic of heritage bakery brands includes some of the industry’s most trusted names: Brill, Henry & Henry, MeisterMarken, Multifoods and Waldkorn, to name but a few.

With over 20 years of investing experience, Rhône is a global alternative investment management firm with approximately $6 billion in assets under management. The firm focuses its private equity investments in market leading businesses with a pan-European or transatlantic presence and global growth opportunities. Rhône, which is currently investing capital from its fifth private equity fund, has invested in a diversified portfolio of companies including those in the chemical, consumer product, food, packaging, specialty material, business services and transportation sectors.

Pamplona is a New York, Boston and London-based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single-manager hedge fund investments. Pamplona manages over $15 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.

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.

Harris Williams & Co.’s Specialty Distribution Group has experience across a variety of sectors, including branch-based distributors; specialty catalog and direct marketing; consumer; industrial, MRO and safety; automotive and heavy duty aftermarket; building and construction products; healthcare; technology; electrical and communications; and alcohol, tobacco and firearms. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution 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.