Deloitte Advises Enray On Sale to J.M. Smucker
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Deloitte Advises Enray On Sale to J.M. Smucker

deloitte nfDeloitte Corporate Finance was the exclusive financial advisor to Enray on its recent sale to The J.M. Smucker Company. This transaction is expected to further advance Enray’s and its truRoots brand’s position in the rapidly growing gluten-free and organic food industry.

lorin nf“Since founding the company, Esha and Nimesh Ray have built Enray into the leading gluten-free, ancient grains company. truRoots represents a key brand in the organic food industry that is experiencing growth across all of its products and sales channels. We see the transaction with Smucker as providing an iconic brand platform for Esha, Nimesh, and Enray to continue to build and strengthen truRoots’ leadership in the category,” said Lorin DeMordaunt, Managing Director, Deloitte Corporate Finance and head of the consumer and retail group.

Enray is a vertically integrated, branded consumer packaged goods company that primarily targets the organic, sprouted multi-grain, and gluten-free markets. Enray pioneered the development of the dry-sprouted category in the United States and offers grains, pastas, and processed value-added products, with nutritional profiles and preparation characteristics throughout its brand and private label programs. The company was founded in 2000 and is headquartered in Livermore, CA (www.truroots.com).

Deloitte Corporate Finance (DCF) provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms (www.investmentbanking.deloitte.com).

“DCF’s knowledge and experience enabled us to better identify and secure the best partner for the company to sustain and accelerate our significant growth. DCF guided us through a well thought-out process in order to seamlessly achieve our objectives. DCF’s leadership, experience, and extensive knowledge of the organic food industry were vital to accomplishing the transaction,” said Esha Ray, Chief Executive Officer of Enray.

The J.M. Smucker Company is a marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America. Brands include Smucker’s®, Folgers®, Dunkin’ Donuts®, Jif®, Crisco®, Pillsbury®, Eagle Brand®, R.W. Knudsen Family®, Hungry Jack®, Cafe Bustelo®, Cafe Pilon®, White Lily® and Martha White® in the United States, along with Robin Hood®, Five Roses®, Carnation® and Bick’s® in Canada. The company is headquartered in Orrville, OH (near Akron) (www.smuckers.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 8-22-13

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