Daily News: November 4, 2014

GE Antares Agents Snow Phipps’ Facility to Support Teasdale Buy

GE Antares, a unit of GE Capital, is serving as administrative agent on a $104 million senior secured credit facility to support the acquisition of Teasdale Quality Foods by Snow Phipps Group. GE Capital Markets served as lead arranger and bookrunner on this facility.

“Snow Phipps has a long-standing and valued relationship with GE Antares. Their expertise in the food industry and ability to promptly arrange this financing made them an excellent partner,” said Ian Snow, CEO and managing partner of Snow Phipps.

“Teasdale’s strong culture and management team coupled with Snow Phipps’ expertise in the consumer sector attracted us to this financing opportunity,” said Doug Cannaliato, managing director of GE Antares. “We look forward to supporting management and Snow Phipps as they execute their growth plan.”

Snow Phipps is a private equity firm focused on middle-market control investments.

Atwater, CA-headquartered Teasdale produces and markets canned hominy and beans, primarily in the Western and Midwestern U.S. Teasdale’s roots can be traced back to the 1930’s.