Harris Williams & Co. Advises PANOS brands, a High Road Capital Partners Portfolio Company, on its Sale to Hammond, Kennedy, Whitney & Company
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of PANOS brands, LLC (PANOS) to Hammond, Kennedy, Whitney & Company, Inc. (HKW). PANOS is a leading provider of branded consumer foods in a wide variety of growing categories. Known for its unique portfolio of brands, the company has consistently expanded its footprint over the last few years with a focus on providing consumers with high quality, great tasting and better for you products in the specialty, natural, organic and mass grocery channels. Harris Williams & Co. served as the exclusive advisor to PANOS, a portfolio company of High Road Capital Partners (High Road). The transaction was led by Glenn Gurtcheff, Tim Alexander, Ryan Budlong, Andy Warczak and Wes Lilja of Harris Williams & Co.’s Consumer Group.
“PANOS’ management has executed numerous brand development initiatives to establish PANOS as a leading, differentiated portfolio of trusted consumer brands,” said Glenn Gurtcheff, a managing director at Harris Williams & Co. “The company’s on-trend product offerings, new product development capabilities, and diversified customer base garnered significant interest in the market. We believe management has a terrific partner in HKW, and we are looking forward to the company’s continued success.”
“Consumers continue to embrace natural, organic, non-GMO, better for you and free from products that are consistent with healthier lifestyles,” added Ryan Budlong, a managing director at Harris Williams & Co. “Harris Williams & Co. continues to see exceptionally strong buyer interest in food companies that are well positioned within the better for you food category.”
PANOS’ unique portfolio of natural and specialty food brands include Andrew & Everett, KA-ME, MI-DEL, Sesmark, Amore and Chatfield’s. The company’s brands are trusted by consumers and participate in fast-growing and on-trend specialty, natural, better for you, free from, and organic food categories. PANOS was founded in 2007 and is headquartered in Rochelle Park, New Jersey.
High Road is a private equity firm focused on lower-middle market transactions. High Road was formed in 2007 and currently manages over $470 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions.
HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 51 platform transactions of lower-middle market companies throughout North America, as well as 56 add-on acquisitions.
Harris Williams & Co. (www.harriswilliams.com), a member 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 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.