Lincoln International Represents Ann’s House of Nuts in its Sale to Olympus Partners
CHICAGO, July 3, 2008 – Lincoln International, a global middle-market investment bank, today announced the sale of a majority interest in Ann’s House of Nuts (“Ann’s” or “the Company”) to Olympus Partners, a private equity firm based in Stamford, CT. Lincoln International acted as the exclusive financial advisor to Ann’s. Terms of the transaction were not disclosed.
Ann’s, founded in 1973, is the largest privately-held provider of trail mixes and snack nuts in the world. With a leadership position in the private label (or store brand) healthy snack foods market, the Company formulates, imports and processes a comprehensive array of trail mixes, snack nuts, dried fruits and other products for global distribution. Ann’s is a primary private label supplier in its categories to customers in the mass merchandise, supercenter, wholesale club, grocery, military and other channels. The Company also provides products under leading brands such as Ann’s House® and Ann’s House of Nuts®. In addition to its headquarters and production facility in Jessup, MD, the Company also has a production facility in Robersonville, NC.
Lincoln International worked closely with Ann’s senior management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction. Lincoln International also worked extensively with executives from ForteCEO Group, a leading executive consulting firm that specializes in top management and ownership transitions, which has been working with Ann’s in executive, operational and financial capacities as it transitioned into an industry-leading provider of private label healthy snacks.
“It was a pleasure working with Lincoln International during this process. I strongly believe that the combination of Lincoln International and ForteCEO produced the best possible result for the Company and its shareholders in this transaction,” remarked George Lampros, a member of ForteCEO and newly appointed Chief Executive Officer of Ann’s. “The management team and I are excited to work with Ann’s founders and Olympus Partners as the Company embarks on its next phase of growth.”
Edward Zinke, Founder and former Chief Executive Officer of Ann’s, added “We are very pleased to partner with Olympus Partners as we continue to build upon the strong entrepreneurial history of Ann’s. Lincoln International’s involvement and counsel ensured the best outcome for Ann’s and its shareholders.”
Olympus Partners is pleased to partner with Ann’s previous owners, Edward and Ann Zinke, to continue building the future of the Company. The previous owners will continue to maintain ownership and involvement with the business. “Olympus Partners enters the transaction with a vision of contributing new ideas and resources to further Ann’s tradition of providing quality products, innovative snacking ideas and a commitment to customer service,” said Manu Bettegowda of Olympus Partners. “We are extremely enthusiastic about the opportunity to work with Ann’s House of Nuts and look forward to further growing and building the Company.”
About Olympus Partners
Olympus Partners (“Olympus”) is a private equity firm that provides equity capital to privately-held, middle-market business services, logistics, healthcare, financial services, consumer products and information technology companies. Founded in 1988, Olympus manages over $3.1 billion on behalf of corporate pension plans, public retirement systems, university endowment funds and the executives of Olympus' portfolio companies. The firm’s latest fund, Olympus Growth Fund V, has committed capital of $1.5 billion. Olympus focuses on a value-added approach with its portfolio companies and a true partnership with its management teams. More information about Olympus can be obtained at www.olympuspartners.com.
About ForteCEO
ForteCEO (“ForteCEO”) is a leading senior executive consulting firm for middle-market businesses in the United States. Headquartered in Northbrook, IL, the firm entrenches senior executives in interim roles in middle-market businesses to help them capture opportunities, improve operations, maximize profitability, fill voids created by departing staff, prepare for an exit, resolve crises and much more. Each of ForteCEO’s interim executives has more than 20 years of hands-on operating and leadership experience. ForteCEO works with executives throughout a variety of industry and functional areas of expertise. The firm’s executives are more than “consultants”; they work alongside management teams or business owners to implement change for the long term. More information about ForteCEO can be obtained at www.forteceo.com.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in middle-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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