C.J. Foods has been acquired by J.H. Whitney Capital Partners. Golub Capital acted as sole bookrunner and administrative agent and provided a GOLD financing to support the acquisition. Founded in 1985 and headquartered in Bern, KS., C.J. Foods is a custom manufacturer of super-premium dry pet foods for dogs, cats, and other household pets.
Golub Capital today announced that as Sole Bookrunner and Administrative Agent it provided a GOLD financing to support the acquisition of C.J. Foods, Inc. (“C.J. Foods” or the “Company”) by J.H. Whitney Capital Partners, LLC (“J.H. Whitney”). GOLD financings are Golub Capital’s One-Loan Debt facilities.
Founded in 1985 and headquartered in Bern, KS., C.J. Foods is the leading custom manufacturer of super-premium dry pet foods for dogs, cats, and other household pets. The Company offers services throughout the value chain, including product consulting and development, materials management, customized production and packaging, quality control, and managed inventory, allowing customers to focus on branding and marketing their pet food diets. The Company’s manufacturing capabilities make it the #1 contract manufacturing partner to its customers.
“As a result of its strong market reputation and value proposition, C.J. Foods has developed long term relationships with the largest super-premium pet food marketers in North America, firmly establishing itself as the premier manufacturer in the industry,” expressed Golub Capital Managing Director Charlie Riceman. “We are excited to partner with J.H. Whitney and management to continue the Company’s growth.”
“We selected Golub Capital for this transaction due to their speed of execution and their ability to structure a financing solution that enables us to execute on our growth plans for C.J. Foods,” said Micah Meisel, a Principal at J.H. Whitney.
About Golub Capital
With over $10 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $300 million. Golub Capital’s hold sizes range up to $200 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 1Q 2014 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). Year to date 2014, Golub Capital has been awarded Acquisition International’s 2014 Fund Awards “Credit Asset Management Firm of the Year – USA,” ACQ’s Global Awards “US Credit Asset Manager of the Year,” Acquisition International’s “Broadly Syndicated Loans Specialist of the Year – USA,” and Acquisition International’s Hedge Fund Award “USA Credit Asset Manager of the Year.” In 2013, Golub Capital was awarded Finance Monthly’s Global Awards 2013 “Credit Asset Manager of the Year” and DealMakers M&A Awards 2013 “Middle Market Lender of the Year.” Golub Capital is a national firm with principal offices in Chicago and New York.
About J.H. Whitney
J.H. Whitney, established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney, was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, J.H. Whitney remains privately owned by its investing professionals and its main activity is to provide private equity capital to small and middle market companies with strong growth prospects in a number of industries including consumer, healthcare, specialty manufacturing, and business services. J.H. Whitney is currently investing its seventh private equity fund whose investors include leading sovereign wealth funds, foundations, universities, pension funds and other institutions.
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