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Lazard
Middle Market Represented
Two Chefs On A
Roll in its Sale to
Bakkavör
Group
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TRANSACTION
DESCRIPTION
Lazard Middle Market represented Two Chefs On A Roll,
Inc. in its sale to Bakkavör Group. Two Chefs is a researcher, developer
and manufacturer of customized, private-label bakery and savory
products, including chilled and frozen desserts, sauces, dips and
soups. Terms of the transaction were not disclosed.
Lars
Ekstrom, a managing director with Lazard Middle Market, noted, “This
acquisition is an important transaction for Lazard Middle Market,
and represents the 49th transaction completed by our food team, and
the seventh successful sale by Lazard Middle Market of a food
company in the past 12 months. We take pride in being a
leading M&A advisor across all segments of the food industry and
are proud of our association with Two Chefs On A Roll.”
Sheppard,
Mullin, Richter & Hampton LLP
in Los Angeles served as legal representative for Two Chefs,
and Bakkavör Group was represented by attorneys Nixon Peabody LLP in New
York.
THE SELLER
Two Chefs On A Roll, Inc.
(www.twochefsonaroll.com) is among the nation’s foremost researchers, developers and
manufacturers of innovative, custom specialty bakery and savory prepared foods serving
the retail and casual-dining restaurant industries. The company’s product
expertise includes approximately 150 custom traditional and exotic ethnic dips,
sauces, soups, and chilled and frozen desserts. Two Chefs
is recognized as a leader in both
innovation and serving the demanding, highly customized needs
of its clients. These clients rely
upon the company for innovative new fresh and frozen products designed and manufactured to strict
requirements for taste, quality, health and nutrition, ease of preparation,
shelf life, food safety, and cost.
THE
BUYER
Bakkavör Group, founded in 1986,
is an integrated food manufacturing company specializing in fresh
prepared foods and produce. Through its subsidiaries, Bakkavör employs
approximately 20,000 people spanning eight countries (Iceland,
United Kingdom, France, Belgium, Spain, China, Czech Republic,
and South Africa) and 55 manufacturing facilities. Bakkavör
produces over 4,700 food products across a variety of categories,
including ready meals, pizza, pasta, salads, snacks, dips,
dressings, sauces,
and desserts. With annual turnover of more than £1.5
billion in 2007, Bakkavör is the largest supplier of both fresh
prepared foods and produce in the United Kingdom. Bakkavör is headquartered in Reykjavik,
Iceland and is listed on the OMX Nordic Exchange under
the ticker BAKK.
ABOUT LAZARD MIDDLE
MARKET
Lazard Middle Market, a subsidiary of Lazard (NYSE:LAZ),
provides advice on mergers and acquisitions, restructuring and
financings to the middle market. Formed in 2007 with the acquisition
of Goldsmith Agio Helms, Lazard Middle Market has approximately 90
professionals in Minneapolis, New York, Chicago, Los Angeles, and
Shanghai. For more information on Lazard Middle Market, please visit
www.lazardmm.com.
If you would like more
information about this transaction, contact Lars Ekstrom (lars.ekstrom@lazardmm.com) at
310-551-4111.
Minneapolis • 225 South Sixth Street • 46th
Floor • Minneapolis, MN 55402 •
612 339 0500
New York •
11 West 42nd Street • 29th Floor • New York, NY 10036 • 212 758
8575
Chicago • 10 South
Wacker Drive • 33rd Floor • Chicago, IL
60606 • 312 928 0760
Los Angeles • 1999
Avenue of the Stars • 12th Floor • Los
Angeles, CA 90067 • 310 551
4111
Shanghai
• 1366 Nanjing West Road • Plaza 66 Tower 2,
15/F, Suite 21
Shanghai, China 200040 • 86 21 6137
6025
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