J.H. Chapman Group Announces Sale of Bluegrass Dairy and Food, LLC
Chicago, IL (July 23, 2010) - J.H. Chapman Group, L.L.C. announced today that its client Bluegrass Dairy and Food has been sold to Dubilier & Company and Merit Capital Partners in partnership with Bluegrass founders. Bluegrass was represented by McDermott Will & Emery.
Bluegrass Dairy and Food is a processor of custom value-added dairy ingredients for the food and beverage industry. As a dairy ingredient specialist, Bluegrass provides unrivaled product quality and consistency. The company's customers are leading food, beverage and dairy based producers.
"Management is excited at the opportunity to move the business into its second stage of development with the support of two wonderful financial partners, Dubilier and Merit Capital," said Billy Joe Williams, Chairman and Chief Executive Officer of Bluegrass Dairy and Food. "With their support, we plan continued significant growth in providing the finest quality and most innovative dairy-based ingredients for our customers. In addition, we look forward to future growth through new products and new industry segments."
About Bluegrass Dairy and Food
The senior management team of Bluegrass, all with extensive experience and knowledge in the dairy industry, founded the company and continues its role as investors and management. It has experienced significant growth from its inception in 1995. The Company operates two plants in Kentucky − in Glasgow with approximately 65,000 sq. ft. on 18 acres and in Springfield with 35,000 sq. ft. on 2.7 acres, as well as a distribution center of 78,000 sq. ft. on 9.5 acres in Springfield. For more information, visit www.bluegrassdairy.com.
About Dubilier & Company
Dubilier & Company, a private investment firm focused on buying and building companies in partnership with management, includes executives with extensive operating experience and others with broad financial expertise. Its strategy is to use these operating and financial skills to enhance the success of the businesses in which they invest. "We are thrilled to participate with the Williams Family and provide assistance to continue its growth," said Michael Dubilier, Managing Partner. For more information, visit www.dubilier.com.
About Merit Capital Partners
Merit Capital Partners focuses on high-quality, established businesses with well-conceived operating strategies. Their goal is to work with committed owners and strong management teams to help increase a company's enterprise value. "Bluegrass Dairy fits our focus perfectly and we are pleased to be partners with the Williams Family and Dubilier," said Tom Campion, Managing Director. For more information, visit www.meritcapital.com.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. The firm's ability to leverage its extensive industry experience and recognized areas of practice, across multiple offices, adds value to each M&A transaction. For more information, visit www.mwe.com.
About J.H. Chapman Group, L.L.C.
The J.H. Chapman Group is the food industry's leading investment banking firm, with offices in Chicago and Paris, offering a full range of financial advisory services to the food, beverage, restaurant and ingredient industries in the United States and internationally. The J.H. Chapman Group initiated this transaction, advised Bluegrass Dairy and Food, LLC and assisted in the negotiations. For more information, visit www.jhchapman.com.