Daily News: August 8, 2014

Deloitte Corporate Finance Advisor on La Fe Foods Acquisition

Deloitte Corporate Finance said it acted as exclusive financial advisor to GraceKennedy, on its acquisition of La Fe Foods.

Founded in 1922, GraceKennedy is one of the Caribbean’s largest food and financial services conglomerates and provides innovative solutions in the food processing and distribution industry. GraceKennedy’s management expects the acquisition, valued at $26 million, to add approximately $80 million in revenue to its North American operations and greatly enhance the company’s U.S. distribution capabilities.

“DCF’s market insight and food and beverage industry experience enabled us to better identify and secure the best fit for GraceKennedy. This acquisition allows us to gain more control over our route to market and significantly scale our operations in North America. DCF guided us through a structured and comprehensive buy-side process and was instrumental in helping us achieve our transaction objectives,” said Don Wehby, CEO of GraceKennedy.

“We were fortunate to have advised GraceKennedy on this transaction. We look forward to continuing the relationship with GraceKennedy in the future and further establishing DCF’s extensive presence in food and beverage industry M&A, an area in which we remain very active,” said Matt Meyer, managing director, Deloitte Corporate Finance.