Cascadia Capital, an investment bank serving middle market clients globally, today announced its client, PNC Riverarch Capital (“Riverarch”), together with its portfolio company Chef Merito Seasonings (“Chef Merito”), has completed an investment in La Fiesta Food Products (“La Fiesta”), a leading provider of spices, chiles, herbs, and related products within the Hispanic foods market.
Riverarch is a middle-market private equity firm which invests in privately held companies in North America and Europe. It’s portfolio company La Fiesta is one of the leading providers of spices & herbs, dried chili pods, corn husks, and other specialty products for Latin cuisine, serving customers nationwide. Headquartered in La Mirada, CA, La Fiesta prides itself on offering its customers best-in-class service built on its proprietary direct store delivery (“DSD”) network that enables it to provide hundreds of SKUs with unmatched consistency and reliability.
“We’re thrilled to announce that Chef Merito and La Fiesta have merged to create the nation’s premier provider of Hispanic seasonings, spices, herbs, marinades, and other specialty products,” commented Margaret Crow, CEO of Chef Merito.
“Our partnership with Chef Merito will allow us to offer unparalleled service, expanded geographic reach, and an increasingly diverse product selection,” added Joe Nibali, Owner of La Fiesta. “We’re excited to join forces with the Chef Merito and Riverarch teams to unlock our next chapter of growth.”
“La Fiesta’s best-in-class track record of customer service and wide breadth of product offerings are highly complementary to Chef Merito’s unmatched flavor profile and established brand positioning” said Andrew Barza, Principal with Riverarch. Brian Blake, Director with Riverarch, added, “Both management teams have done an excellent job of building strong businesses within the growing Hispanic foods market, and we look forward to joining forces to create a highly compelling platform for future growth.”
“Our unwavering confidence in the branded, ethnic seasoning category continues to grow, driven by the remarkable opportunities it presents,” added George Sent, Managing Director at Cascadia. “We are genuinely excited to be a part of this union of leading Hispanic brands, and we wholeheartedly embrace the potential it brings.”
Cascadia Capital, an investment bank serving middle market clients globally, today announced its client, PNC Riverarch Capital (“Riverarch”), together with its portfolio company Chef Merito Seasonings (“Chef Merito”), has completed an investment in La Fiesta Food Products (“La Fiesta”), a leading provider of spices, chiles, herbs, and related products within the Hispanic foods market.
Riverarch is a middle-market private equity firm which invests in privately held companies in North America and Europe. It’s portfolio company La Fiesta is one of the leading providers of spices & herbs, dried chili pods, corn husks, and other specialty products for Latin cuisine, serving customers nationwide. Headquartered in La Mirada, CA, La Fiesta prides itself on offering its customers best-in-class service built on its proprietary direct store delivery (“DSD”) network that enables it to provide hundreds of SKUs with unmatched consistency and reliability.
“We’re thrilled to announce that Chef Merito and La Fiesta have merged to create the nation’s premier provider of Hispanic seasonings, spices, herbs, marinades, and other specialty products,” commented Margaret Crow, CEO of Chef Merito.
“Our partnership with Chef Merito will allow us to offer unparalleled service, expanded geographic reach, and an increasingly diverse product selection,” added Joe Nibali, Owner of La Fiesta. “We’re excited to join forces with the Chef Merito and Riverarch teams to unlock our next chapter of growth.”
“La Fiesta’s best-in-class track record of customer service and wide breadth of product offerings are highly complementary to Chef Merito’s unmatched flavor profile and established brand positioning” said Andrew Barza, Principal with Riverarch. Brian Blake, Director with Riverarch, added, “Both management teams have done an excellent job of building strong businesses within the growing Hispanic foods market, and we look forward to joining forces to create a highly compelling platform for future growth.”
“Our unwavering confidence in the branded, ethnic seasoning category continues to grow, driven by the remarkable opportunities it presents,” added George Sent, Managing Director at Cascadia. “We are genuinely excited to be a part of this union of leading Hispanic brands, and we wholeheartedly embrace the potential it brings.”
Cascadia Capital, an investment bank serving middle market clients globally, today announced it provided strategic advisory services to The Munger Companies (Munger Bros., LLC and its affiliates), and their partnership-subsidiary, Naturipe Value Added Fresh, a processor and marketer of fresh and value-added, Ready-To-Eat (“RTE”) products.
The Company processes, packages, and markets berry-centric RTE products, primarily serving retail and food service channels. The Company has RTE-patented technology that extends the shelf-life of products in addition to enhanced appearance, condition, color, and other benefits.
Cascadia Capital’s Agribusiness team maintains a strong focus in AgTech, Production Agriculture and Food & Ingredients Processors, particularly in berries, with extensive transaction experience and expansive coverage of strategic and financial buyers located domestically and globally.
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Tillridge Global Agribusiness Partners (“Tillridge”) on its exit of portfolio company Novus Ag, an innovative ag retail platform, to Aqua Capital, an agriculture-focused private equity investor based in Brazil.
Following rapid consolidation in the ag retail industry, the current market structure has failed to satisfy the needs of the industry's two primary stakeholders: local store operators and farmers. Novus Ag developed a unique platform which attracts the industry's best talent, while providing farmers with an optimal mix of local expertise and national scale. Novus Ag has integrated 30+ owner-operators across 50+ retail locations to its network, serving farmers across the United States with crop protection, fertilizer, and seed treatment products coupled with application and agronomy services.
“I am honored to represent Novus Ag and Tillridge on this transaction,” added Scott Porter, Cascadia Capital Managing Director. “Novus Ag is a first-of-its-kind platform in agriculture with an incredible growth opportunity and led by a highly experienced management team. The Agriculture Input sector broadly continues to be a core area of focus for our practice.”
“The broader retail environment serving rural and agricultural communities throughout the United States continues to evolve and Novus Ag’s entrepreneurial owner-operator model is a clear example of the positive economic impact and success that this industry has on the communities it serves,” said James Cartales, Cascadia Managing Director.
Cascadia Capital, one of the nation's most active independent middle-market investment banks, announced today that Owen Baldrica has joined the firm as a Director in the Food, Beverage & Agribusiness group. Mr. Baldrica will focus on providing M&A and corporate finance advisory to Cascadia’s clients across the Food & Agribusiness landscape, specifically Agribusiness & AgTech, Food Processors & Ingredients, Food Distribution, and Sports Nutrition sectors.
With a decade of investment banking experience, Mr. Baldrica has advised clients, both domestically and internationally, on successful transactions totaling over $2.5 billion in value. He has worked with both founder- and family-owned businesses, as well as sponsor-backed companies and developed a deep understanding of how these businesses transact, helping to drive optimal outcomes for clients.
“We are very excited to welcome Owen to the Cascadia team and extend Cascadia’s industry leading position in Food, Beverage & Agribusiness,” said Michael Butler, Cascadia Chairman & CEO. “Food, Beverage & Agribusiness remains a core growth area for Cascadia and Owen’s experience will allow us to even better serve our clients through his deep industry relationships and expertise.”
Cascadia Capital, one of the nation's most active independent middle-market investment banks, announced today that Owen Baldrica has joined the firm as a Director in the Food, Beverage & Agribusiness group. Mr. Baldrica will focus on providing M&A and corporate finance advisory to Cascadia’s clients across the Food & Agribusiness landscape, specifically Agribusiness & AgTech, Food Processors & Ingredients, Food Distribution, and Sports Nutrition sectors.
Prior to joining Cascadia, Mr. Baldrica was a part of Lazard’s Consumer, Food and Retail M&A practice, where he advised clients on sell-side and buy-side transaction and strategic advisory engagements. Before Lazard, he was with Wells Fargo Bank serving large food and agribusiness clients.
“I am thrilled and honored to be joining Cascadia as part of the Food, Beverage & Agribusiness practice,” added Mr. Baldrica. “The firm has an outstanding reputation for helping founder- and sponsor-owned businesses achieve their strategic goals and objectives, and I look forward to supporting and expanding our efforts.”
Owen Baldrica is a Director in Cascadia Capital’s Food, Beverage and Ag practice group. Throughout his career, he has completed transactions totaling over $2.5B in value.
Prior to Cascadia Capital, Owen was part of Lazard’s Consumer, Food, and Retail M&A practice where he advised clients on sell-side, buy-side, and strategic advisory assignments.
Previously, Owen was at Wells Fargo Bank, covering large food and agribusiness companies throughout California. He is registered with FINRA, holding Series 79 and 63 licenses.
Owen holds a degree from Biola University in La Mirada, California.
Cascadia’s industry conference series presents the 2nd annual premier event for the food, beverage & agribusiness community, including growth companies, investors, entrepreneurs, academics, and technologists.
The Food, Beverage & Agribusiness team has extensive domain expertise and transaction experience across the entire food and beverage supply chain. Our team maintains active and deep relationships with operating companies and strategic and financial buyers located domestically and globally. We produce widely read thought leadership materials that shape industry dialog, and inform company, strategic buyer and financial investor strategies. The team is actively engaged with industry leaders and holds active membership with numerous associations. We represent growers, processors and manufacturers that are the foundation of the industry, as well as emerging growth brands that challenge the status quo.
Our view is that the Food, Beverage & Agribusiness industry will continue to see secular growth and industry dynamics will continue to evolve. We anticipate and expect increased consolidation, vertical integration from producer to consumer, and the introduction of new technology.
As a Senior Advisor, James offers more than 30 years of senior executive leadership in the Food & Agriculture industry, from floor level operations to providing executive leadership to public, private and non-profit organizations.
Prior to joining Cascadia Capital as a Senior Advisor, he served as CEO of AIB International, President of Simplot Food Group and Vice President of one of Nestle’s food divisions in North America. During his tenure, James was involved in key investments in new and expanded facilities, facilities rationalization and improvements in cost reduction and organizational realignment to improve market position. He was also very actively engaged in international capabilities expansion allowing for enhanced international growth in each of the businesses he was involved in. He is currently serving as an Independent director for a family business within the food industry.
James earned a M.S. in Food Science from Washington State University, a B.S. in Microbiology from Oregon State University and an Executive Certification from the University of Virginia, Darden School of Business. He also has served and is serving as an advisor and board member for several industry and educational organizations.
As a Managing Director at Cascadia Capital, George Sent is focused on client relationships in the food, beverage and agricultural sectors. George’s practice is concentrated on working with health and wellness and values-integrated companies. Assignments for clients include mergers and acquisitions, recapitalizations, restructurings and equity private placements.
George works exclusively with client companies that have a positive culture, leadership vision, and a commitment to the growth and support of those who work for them.
Previously, George was an investment banker with Lazard and Goldman Sachs. He also spent a number of years as a corporate executive with the JM Smucker Company, where he oversaw the Company’s Corporate Finance and Investor Relations groups.
George holds an undergraduate degree from the University of Cincinnati, where he graduated cum laude and Beta Gamma Sigma. He also earned an M.B.A. from Cornell University, where he was a Johnson School Finance Fellow. Previously, he was on the Advisory Board of Magic Leap, Inc., Lifeway Foods (LWAY) and he was also on the Food Science Advisory Council at Cornell University.
As a Managing Director at Cascadia Capital, Scott Porter is focused on client relationships in the Food and Agricultural sectors. His practice is focused on mergers and acquisitions, recapitalizations, restructurings and private placements. He also serves on the Firm's Operating Committee.
He joined Cascadia Capital from Moss Adams Capital, where he covered a wide variety of industries and transactions, with extensive focus on agribusiness sell-side, buy-side and strategic advisory assignments.
Previously, Scott was at Wells Fargo Bank, covering large food and agribusiness companies throughout the West Coast. Scott holds a degree from Biola University, where he graduated summa cum laude and is registered with FINRA, holding the Series 79 and 63 licenses. He is on the on the ACG Seattle Board of Directors Committee and he is also active in non-profit volunteering including World Relief, a global refugee and economic development non-profit, and Hope for Life, a children’s orphanage in Kigali, Rwanda.
Bryan Jaffe is Chief Operating Officer, Investment Banking at Cascadia Capital and member of the Firm's Operating Committee. He joined Cascadia from Gordian Group, LLC, where he managed and executed complex and special situation financial advisory assignments, including restructurings and reorganizations, buy-side and sell-side M&A transactions, financings, and matters requiring opinions and expert testimony.
Prior to business school, Bryan was a Principal within the Strategic Change Consulting Practice at Price Waterhouse, LLP; during this time, he managed operational strategy development and performance improvement projects for Fortune 1000 companies.
Bryan holds a B.S. with Honors in Business Administration from Washington University, St. Louis, where he graduated magna cum laude, and an M.B.A. from the Wharton School at the University of Pennsylvania. He is on the Advisory Board of the Methow Valley Conservancy and TwispWorks Foundation.
Erik Einwalter is a Managing Director in Cascadia Capital’s Food, Beverage & Ag practice group, and member of the Firm's Operating Committee. He is responsible for originating and executing transactions across the food and beverage sectors, working with branded offerings and various manufacturers of finished products, with additional coverage of the seafood sector. He leads our Food and Beverage Manufacturing sub-sector, focusing on all things contract manufacturing, private label and food service.
Throughout his career, he has completed over 40 transactions with over $2.0B in total value. Prior to Cascadia Capital, Erik worked at Salem Partners in Los Angeles where he delivered sell-side, equity placement and valuation services to clients across numerous industries.
Erik holds a Bachelor of Arts in Business and Finance from the University of Washington.
Cascadia Capital, an investment bank serving middle-market clients globally, announced that its client Turtle Island Foods, dba Tofurky, a leading plant-based foods brand that manufactures and markets products in the United States, has been acquired by Morinaga Nutritional Foods, Inc. a subsidiary of Tokyo-based Morinaga Milk Industry Co., Ltd. Cascadia Capital served as the exclusive financial advisor to Tofurky in the transaction.
Founded by Seth Tibbott in 1980, Tofurky is a pioneer in the U.S. plant-based foods market, originally making from-scratch tempeh for the local community. The company leveraged its humble origins in tempeh and roasts to build a cult following and expand the brand into a wide range of plant-based categories including deli slices, sausages, and chick’n. With a commitment to taste and nutrition and a track record of innovation, Tofurky provides Morinaga Nutritional Foods with a unique opportunity to strengthen its plant-based foods business in North America and expand beyond Morinaga’s industry-leading tofu products.
“Tofurky was one of the earliest pioneers in plant-based foods and has been a steadying force for the industry,” said Erik Einwalter, Cascadia Capital Managing Director. “The strategic buyer community continues to show an appetite for acquisitions that expand their plant-based foods portfolios and geographic reach. We are grateful to Jaime and the team for having been a part of the Tofurky story.”
“We selected Cascadia as our partner because of their plant-based foods industry experience and their cultural alignment with our shareholders and management,” said Jaime Athos, CEO of Tofurky. “We are eager to enter this next chapter with Morinaga and to further cement Tofurky’s leadership position in plant-based foods in North America.”
“Tofurky is a class-leading asset, and with financial and operational support of Morinaga, the brand will see enhanced momentum nationally and internationally,” said John Gulvezan, Cascadia Capital Vice President. “While the sector has experienced volatility over the past eighteen months, we believe the underlying long-term trends will fuel plant-based foods growth as the industry continues to mature.”
The Tofurky acquisition represents another successful transaction for Cascadia in the branded food sector and our continued demonstration of our experience in plant-based foods. Recent clients include Follow Your Heart, Green River Spirits, Pancho’s, Campos Coffee, and Pretzilla.
For more information about this transaction, please contact the Cascadia Capital deal team:
Cascadia Capital, an investment bank serving middle market clients globally, today announced its client, PNC Riverarch Capital (“Riverarch”), together with its portfolio company Chef Merito Seasonings (“Chef Merito”), has completed an investment in La Fiesta Food Products (“La Fiesta”), a leading provider of spices, chiles, herbs, and related products within the Hispanic foods market.
Riverarch is a middle-market private equity firm which invests in privately held companies in North America and Europe. It’s portfolio company La Fiesta is one of the leading providers of spices & herbs, dried chili pods, corn husks, and other specialty products for Latin cuisine, serving customers nationwide. Headquartered in La Mirada, CA, La Fiesta prides itself on offering its customers best-in-class service built on its proprietary direct store delivery (“DSD”) network that enables it to provide hundreds of SKUs with unmatched consistency and reliability.
“We’re thrilled to announce that Chef Merito and La Fiesta have merged to create the nation’s premier provider of Hispanic seasonings, spices, herbs, marinades, and other specialty products,” commented Margaret Crow, CEO of Chef Merito.
“Our partnership with Chef Merito will allow us to offer unparalleled service, expanded geographic reach, and an increasingly diverse product selection,” added Joe Nibali, Owner of La Fiesta. “We’re excited to join forces with the Chef Merito and Riverarch teams to unlock our next chapter of growth.”
“La Fiesta’s best-in-class track record of customer service and wide breadth of product offerings are highly complementary to Chef Merito’s unmatched flavor profile and established brand positioning” said Andrew Barza, Principal with Riverarch. Brian Blake, Director with Riverarch, added, “Both management teams have done an excellent job of building strong businesses within the growing Hispanic foods market, and we look forward to joining forces to create a highly compelling platform for future growth.”
“Our unwavering confidence in the branded, ethnic seasoning category continues to grow, driven by the remarkable opportunities it presents,” added George Sent, Managing Director at Cascadia. “We are genuinely excited to be a part of this union of leading Hispanic brands, and we wholeheartedly embrace the potential it brings.”