Linsalata Capital Partners has acquired Spartan Foods of America Inc., a Spartanburg, S.C.-based maker of pizza and pancake products under the Mama Mary’s brand. No financial terms were disclosed, except that Golub Capital provided a $20.5 million senior debt facility and $500,000 equity co-investment.
Golub Capital announced today that it has provided a $20.5 million senior debt facility and a $500,000 equity co-investment to support Linsalata Capital Partners’ acquisition of Spartan Foods of America, Inc.
Founded in 1987 and headquartered in Spartanburg, South Carolina, Spartan is a leading manufacturer and distributor of shelf-stable pizza crusts, toppings (pizza sauces and pepperoni), topped pizzas, fresh refrigerated pancakes, and frozen pizzas. Spartan sells its pizza crust, topped pizzas, toppings, and pancake product lines under the Mama Mary’s brand. Spartan’s frozen pizza is sold under the Mystic Pizza brand, which the company acquired in December 2007.
About Golub Capital
With $4 billion of capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital’s hold sizes range from $5 million to $75 million per transaction. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by leading industry magazines, Buyouts Magazine and Mergers & Acquisitions. Most recently, the firm was named “Mezzanine Financing Agent of the Year” in September 2009 by M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York and Atlanta. For more information, please visit the firm’s website at www.golubcapital.com.