Orinda, California (December 12, 2012) f’Real Foods LLC announced that its business had been acquired by Rich Products Corporation in a private transaction. Terms of the acquisition were not disclosed. f’Real Foods was advised by investment banking firm Hadley Partners, Incorporated. Morrison & Foerster served as special legal counsel to the company.
f’Real Foods is a rapidly growing beverage company that is reinventing and expanding the times and places people buy high-quality milkshakes, smoothies and frozen coffees for away-from-home consumption. Consumers freshly blend our products in our patented blender found in over 9,000 locations across the US and Canada, at convenience stores, college & universities, theaters and military bases.
Rich Products is a leading supplier and solutions provider to the foodservice, in-store bakery and retail marketplaces. The company is the world leader in non-dairy toppings, icings and other emulsions. Other key product categories include cakes and desserts; pizza; bakery products; breads and rolls; shrimp and seafood; appetizers and snacks; BBQ; meatballs and pasta; and gluten-free and all-natural items.
Since 1945, Rich’s has been committed to developing food solutions that raise the bar on quality, convenience and efficiency for its customers.
“The acquisition of f’Real provides us with the opportunity to enter into a completely new product category, and also establish additional inroads into the high growth convenience-store segment within Rich’s Foodservice Division. We will be working closely with the f’Real leadership team to help them leverage our scale, best practices and certain capabilities. We also will look to create opportunities for f’Real to take advantage of our sales channels and customer contacts on a global basis,” said Richard Ferranti, Executive Vice President and Chief Operating Officer of Rich. Based on f’Real’s unique business model and current growth trajectory, the company will be managed as a separate subsidiary business.
Bill Gisel, Rich’s President and Chief Executive Officer added, “the acquisition of f’Real Foods is consistent with our ongoing commitment to shape and reshape our diverse portfolio to keep Rich’s focused on a path of long term growth.”
James Farrell, the founder of f’Real, and his Blending Team have made commitments to continue to work with Rich Products post-acquisition.
“We are very pleased with the outcome of this transaction and we want to thank our employees, customers and suppliers for their ongoing support,” said Jim Farrell. “We especially want to thank the investment banking team at Hadley Partners. We appreciate their ability to reach the right universe of prospective buyers, and help us properly position our company in the sales process. Their commitment, experience and insight ensured a successful transaction for all f’Real shareholders.”
This announcement is for informational purposes only, and does not represent either an offer to sell securities or a solicitation of offers to purchase securities.
About f’Real Foods (www.freal.com)
Founded in 1995, f’Real is a fast-growing company which sells authentic, high-quality milkshakes, smoothies and frozen coffee beverages, along with patented blending equipment, to more than 9,000 convenience store and foodservice locations across the United States and Canada.
f’Real has corporate functions in Orinda, California, and a customer support center in Lee’s Summit, Missouri. With more than fourteen flavors to choose from, consumers quickly become f’real f’natics. Visit our website to find a location near you.
About Hadley Partners, Inc.(www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. For more information contact David Hadley at (310) 640-7090 or firstname.lastname@example.org
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