North Castle Partners, Glencoe Capital and Management have sold Flatout to Lancaster Colony
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Flatout Holdings, Inc. (“Flatout” or the “Company”), a portfolio company of North Castle Partners, has been sold to T. Marzetti Company, a wholly owned subsidiary of Lancaster Colony Corporation (NasdaqGS:LANC).
Flatout is a high-growth provider of premium branded, better-for-you flatbread products to retail and wholesale customers. Founded in Saline, Michigan, in 1999, the Company utilizes wholesome ingredients and a streamlined manufacturing process to produce trend-right, differentiated flatbread products. Flatout sells its products across major channels such as mass, grocery, drug and foodservice.
Lou Marinaccio, a managing director at North Castle Partners, commented, “Lincoln did an outstanding job of positioning Flatout’s unique characteristics and running an efficient, tailored process which delivered strong results.”
Lincoln acted as the exclusive sell-side advisor to Flatout, working closely with the management team and shareholders throughout the sale process to provide advisory expertise and manage the marketing, due diligence and negotiation phases of the transaction.
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