GreenLine Foods, a provider of fresh-trimmed, microwaveable packaged green beans, has acquired HerbThyme Farms, a grower and distributor of fresh herbs in the
The Riverside Company has a well-seasoned recipe for success: Buy companies at the small end of the middle market and build them through organic growth and add-on acquisitions. The firm has cooked up another winner with the addition of HerbThyme Farms to platform company GreenLine Foods. HerbThyme, the leading grower, processor and distributor of fresh herbs in the
A cornucopia of success, HerbThyme was created in 2001 through the merger of two fresh herb producers, and has continued to grow through the acquisition of four other companies. The company offers 16 types of herbs and herb blends to retail and foodservice customers. The company's four
“The strategic fit of HerbThyme into GreenLine has all the ingredients of another
“We are happy to have HerbThyme join GreenLine and see the addition as a great way to sprinkle in a new offering to our product mix,” said Jeff Twyman, GreenLine's Chief Executive Officer. “Like GreenLine, HerbThyme has successfully recognized and capitalized on demand for fresh food. In addition to adding herbs to our product line, we see opportunity for new products that will bring together herbs and fresh vegetables in convenient high-quality products.”
Working with Gosline on the transaction were Riverside team members Matt Dailey, Principal; Adam Friend, Senior Associate; and Ashok Reddy, Associate. Senior debt financing was provided by Key Bank and Sub debt financing was provided by New Canaan Funding.
The Riverside Company
The Riverside Company is the largest global private equity firm focused on the smaller end of the middle market (“SEMM”) and is one of the industry's most experienced leveraged buyout investors. Riverside specializes in investing in premier SEMM companies (those with enterprise values of up to $150 million) and partners with strong management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 187 transactions with a total enterprise value of $3.4 billion. Its current portfolio in the U.S., Europe and Asia numbers 62, with combined annual sales of $3 billion, EBITDA of $428 million and more than 11,000 employees. Riverside offers the resources to complete acquisitions smoothly and in as little as 30 days