Metromedia Company has sold Harvest Manor Farms to Ralcorp
Lincoln International, a global middle market investment bank, today announced the sale of Harvest Manor Farms, LLC (“Harvest Manor,” “HMF,” or “the Company”) to Ralcorp Holdings, Inc. (NYSE: RAH). Lincoln International acted as the exclusive financial advisor to Harvest Manor. Terms of the transaction were not disclosed.
Harvest Manor is a large U.S. provider of nuts and other snacks with a long history dating back to the founding of its predecessor company in 1913. The Company is enjoying strong growth and has a leadership position in packaged cashews, mixed nuts, peanuts, candy-coated nuts, and other savory snacks. Harvest Manor’s products are sold in through grocery, club, big box retail, foodservice, and vending/concession channels. In addition to its national brands such as Hoody’s®, All American®, Treat Time®, and Manor Creek Naturals®, Harvest Manor is also a major private label supplier to North American retailers. The Company is headquartered in Cedar Rapids, Iowa, and has production facilities in El Paso, Texas.
“This transaction is very positive for Harvest Manor as well as its customers and employees,” commented Joseph Patten, prior CEO of Harvest Manor and Managing Partner of MainStream Management, LLC. “Lincoln International’s services and leadership were invaluable in achieving an excellent outcome for all parties despite the current challenging financial markets.” For many years prior to the transaction, the Company was managed by MainStream Management, LLC, a management consulting and corporate restructuring firm.
Lincoln International worked closely with Harvest Manor’s owners and 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. Brad Akason, Managing Director, and Chris Stradling, Vice President, were the lead Lincoln International bankers on the transaction.
About Ralcorp Holdings Inc.
Ralcorp Holdings, Inc. (“Ralcorp”) produces Post branded cereals, a variety of value brand and store brand foods sold under the individual labels of various grocery, mass merchandise and drugstore retailers, and frozen bakery products sold to in-store bakeries, restaurants and other foodservice customers. Ralcorp’s diversified product mix includes: ready-to-eat and hot cereals; nutritional and cereal bars; snack mixes; corn-based chips and extruded corn snack products; crackers and cookies; snack nuts; chocolate candy; salad dressings; mayonnaise; peanut butter; jams and jellies; syrups; sauces; frozen griddle products including pancakes, waffles, and French toast; frozen biscuits and other frozen pre-baked products such as breads and muffins; and frozen dough for cookies, Danishes, bagels and doughnuts. In addition, Ralcorp holds an interest of approximately 17 percent in Vail Resorts, Inc., the leading mountain resort operator in the United States. More information about Ralcorp Holdings can be obtained at www.ralcorp.com.
About MainStream Management, LLC
MainStream Management, LLC is a full service management consulting and corporate restructuring firm providing interim management, operational improvement consulting and crisis management services to mid-market public and private corporations worldwide. MainStream’s highly experienced C-level executives assure a maximum return on investment for financial institutions, business owners, investors and other stakeholders. More information about MainStream Management, LLC can be obtained at www.mainstreammanagement.com.
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