CCP Client 'CO325'
Premier Cheese Brands in 10,000 stores with Innovative and Highly Efficient Cheese Packaging,
Smoking and Procurement Manufacturing
Clayton Capital Partners is pleased to exclusively represent CO325 (the “Company”) in the sale of its business. CO325 produces and markets a wide variety of high-quality, natural cheeses to distributors, retailers, wholesalers, food service operators and industrial food manufacturers across the United States and internationally. The Company’s innovative and highly efficient cheese conversion and packaging plant serves both the Company as well as other cheese producers. The Company is located in New England and the Upper Midwest.
• Established Smoked Cheese Market Leader – Since the early 1990s, the Company has established itself as a market leader in the smoked cheese niche, a market segment that is expected to grow at 4.2% (CAGR) through 2023.1 Based on the success of that line, the Company’s 120+ SKUs (flavored, shelf-stable, kosher, low-fat and organic cheeses for sale under its own and private labels) are available in over 10,000 stores.
• Unique Premium Products – Based on robust research and development, along with market intelligence, CO325 continually adds new products and lines to satisfy the changing tastes of U.S. and international consumers. In 2019, it launched its line of organic cheeses.
• National Network of Wholesalers, Distributors and Retailers – To achieve its current national and international presence, the Company’s sales representatives have established long-term relationships with multiple retailers and wholesalers, and nearly 50 distributors.
• Highly Responsive Customer Service – To provide fast, accurate and reliable service, CO325 has invested in high-tech processing and labeling equipment and developed delivery systems tailored to customer needs. A high percentage of repeat customers and most-favored-vendor status with the largest food retailer in the U.S. attest to the Company’s outstanding level of performance.
• State-of-the-Art Cutting Equipment – The Company has invested in ultrasonic cutting equipment that not only converts large, non-conforming blocks of cheese to exact specifications, but minimizes trim and giveaway percentages to far below industry averages.
• High-Speed Packaging System – Once cheese is cut to precise specifications, CO325’s highly automated pick-and-place packaging systems increase its production rate and enable it to produce innovative shrink-wrap retail packaging with minimal labor cost.
• Cold Smoking Capability – Unlike the vast majority of converters who use “liquid smoke,” CO325 cold smokes cheese, and is capable of producing 20,000 pounds of premium smoked cheese per day.
• Bulk Waxing Capability – The Company has the equipment and expertise necessary to wax cheeses in both bulk and smaller sizes. Since conversion to wax takes more time than non-waxed, the Company focuses on high-volume contracts.
• Poised to Participate in Growing Snack Market – CO325’s ultrasonic cutting and highly automated packaging equipment is perfectly suited to package cheese for use in snack and individual portion packs, and it can use its R&D capabilities to develop creative flavors and packaging.
| CO325 Financial Highlights | |||||
| Internal Year Ended 12/31/2020 |
Internal Year Ended 12/31/2019 |
Internal Year Ended 12/31/2018 |
Internal Year Ended 12/31/2017 |
||
|
Sales
|
$27,476,524 | $23,020,685 | $22,087,318 | $21,419,829 | |
|
Gross Profit %
|
37% | 35% | 36% | 36% | |
| Adjusted EBITDA | $4,332,112 | $2,475,118 | $2,390,925 | $2,606,775 | |
The undersigned hereby agrees:
That all information, data and materials disclosed or furnished (herein called the Information) by Clayton Capital Partners Acquisition Candidate CO325 (herein called the Company) will be maintained strictly confidential and that, in consideration for such disclosure, no use of the Information will be made by any signing party, or employees of such party, other than for evaluation purposes, on a strictly confidential basis.
It is understood that disclosure of any of the Information, including the possibility that the Shareholders may consider sale, disclosure of the current status of the Company, or disclosure of any information to customers, vendors, competitors, or employees of the Company would cause serious financial damage to the Company and/or its affiliates.
The undersigned also agrees that, for the term of this agreement, they will not solicit for employment any management-level employee, executive-level employee, or any employee of the Company with whom the undersigned came into contact with as a result of the proposed transaction. Nothing herein shall preclude the undersigned from hiring any employee who responds to a general solicitation so long as it is not targeted at the Company or its employees (including through the use of search firms) or who contacts the undersigned of their own accord.
The undersigned agrees not to copy, duplicate, disclose or deliver all or any portion of the Information to a third party or permit any other third party to inspect, copy or duplicate the same except those parties deemed necessary by the undersigned to evaluate the possible transaction (including agents, advisors, affiliates, accountants, attorneys, consultants, and lenders). It is understood that the undersigned may disclose Information to only parties who (i) require such material for the purpose of evaluating a possible transaction and (ii) are informed by the undersigned of the confidential nature of the Information and agree to be bound by the terms hereof. The undersigned further agrees to be responsible for any breach of this agreement by the above mentioned parties, and that these parties will not use any of the Information for any reason or purpose other than to evaluate a possible transaction or in any way detrimental to the Company.
This shall not, however, prevent the undersigned from disclosing to others or using in any manner:
- Information which has been published and has become part of the public domain other than by acts or omissions by the receiving party
- Information which has been furnished or made known to the undersigned by third parties as a matter of right without restriction of disclosure
- Information which the undersigned can show was already in its possession at the time it entered into this Agreement and which was not acquired directly or indirectly from the Company, their representatives, its employees or their representatives, or
- Information which is independently developed by the undersigned or its representatives.
This agreement shall remain in effect for a term of two years from the execution date hereof and upon request, the receiving party will promptly return or destroy all data and materials furnished by the Company and destroy any internal analyses and/or workpapers related to the evaluation of the Company. The undersigned shall be permitted to retain copies of Information for the sole purpose of complying with applicable laws and not be required to destroy electronic Information saved for backup and bonafide record retention policies in the ordinary course of business. Any such retained Information shall remain subject to the confidentiality obligations of this agreement for so long as such information is retained.
|
|||||||||||
