Golub Capital has provided financing as Sole Bookrunner and Administrative Agent to support the recent acquisition of C.J. Foods by J.H. Whitney Capital Partners.
C.J. Foods is a custom manufacturer of super-premium dry pet foods for dogs, cats, and other household pets. The company offers services that include product consulting and development, materials management, customized production and packaging, quality control, and managed inventory. C.J. Foods was founded in 1985 and is headquartered in Bern, KS (www.extrudedpetfood.com).
“As a result of its strong market reputation and value proposition, C.J. Foods has developed long term relationships with the largest super-premium pet food marketers in North America, firmly establishing itself as the premier manufacturer in the industry,” said Golub Capital Managing Director Charlie Riceman. “We are excited to partner with J.H. Whitney and management to continue the company’s growth.”
Golub offers buy-and-hold products ranging from $10 million to $75 million and includes one-loan financings, senior, 2nd lien and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates first lien loans up to $300 million. Golub Capital will hold up to $200 million per transaction. Industries of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub has offices in New York and Chicago (www.golubcapital.com).
“We selected Golub Capital for this transaction due to their speed of execution and their ability to structure a financing solution that enables us to execute on our growth plans for C.J. Foods,” said Micah Meisel, a Principal at J.H. Whitney.
J.H. Whitney invests in small and middle market companies that are active in the consumer, healthcare, specialty manufacturing, and business services sectors. The firm is investing out of its seventh private equity fund. J.H. Whitney was founded in 1946 and is based in New Canaan, CT (www.whitney.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-4-14
