Transaction Overview
- Represented Horizon Food Group, Inc. in its recapitalization.
- Horizon Food Group, Inc. (“HFG” or the “Company”) is a manufacturer and distributor of high-quality branded and private-label products in the sweet snack categories.
- The Company’s two divisions, Ne-Mo’s Bakery, Inc. (“Ne-Mo’s”) and Horizon Snack Foods, Inc. (“HSF or “Horizon Snack Foods”) manufacture an extensive line of baked goods, including individually wrapped cakes (cake squares, cake slices, cake breads, cake loaves, and specialty cakes), cinnamon rolls, and to a lesser extent, Danish and muffins principally under the Ne-Mo’s brand as well as snack pies under the Home Run®, Cutie Pie®, and All-American Pie® brands.
Key Observations
- Faced with significant debt and an expiring senior debt facility, HFG hired us to explore its strategic alternatives in maximizing value to its shareholders. Strategic alternatives explored included a potential divestiture of a division and a recapitalization of the parent Company.