Situation Overview:

A successful, rapidly growing woman-owned and operated food manufacturing business was looking to divest a non-core division in order to focus on the core business.

Our Client:

• KT’s Kitchens is a manufacturer and distributor of frozen pizzas primarily on a private-label basis for major brands and retailers including Whole Foods.
• 30+ years ago, the Company also launched a salad dressing business, licensing the Bob’s Big Boy brand from  Big Boy Restaurants International and distributing to grocery and club stores utilizing a co-packer for manufacturing.
• Bob’s Big Boy refrigerated salad dressings, sauces, and assorted condiments, are supplied to both the chain’s restaurants and grocery stores throughout the Pacific Coast and Southwestern United States in over 4,300 locations.
• Bob’s Big Boy has been a household name in its region for over 50 years and its refrigerated blue cheese dressing remains as the #1 selling dressing in its category. 

The Goal:

• Maximize the value for the selling shareholder, while ensuring the Company’s future success by selling it to a strong future owner.
• Conduct a formal sale process soliciting interest from multiple strategic and financial buyers simultaneously.

 The Outcome:

• Bob’s Big Boy Salad Dressings was sold to a new company, Flavor of California which was formed by food industry executive, Julie Pantiskas, in partnership with the private equity firm, Salt Creek Capital.
• The new owner has been able to dramatically expand the product line and distribution with the cooperation of the licensor.
• Kathy Taggares, owner of KT’s said, “We would not have been able to find this buyer or complete this transaction without the guidance, patience and expertise of Calabasas Capital, the investment banking firm we hired to represent us in the sale….without [their] tenacity and persistence we simply could not have completed this deal.”