Peak Rock Still Hungry

Peak Rock Capital has acquired Halo Foods, a manufacturer of bars and snacks, in partnership with the company’s management team. Halo was acquired from Nimbus, a Dutch private equity firm.

Halo’s products include cereal bars, fruit and nut bars, gluten-free, high protein, and nutritionally controlled bars. The company’s products are sold to a range of customers including large retailers and international snack brands.

Halo, led by CEO John Tague, is headquartered near Cardiff in Newport, United Kingdom.

The buy of Halo is Peak Rock’s first food and beverage acquisition in Europe and is Peak Rock’s eleventh investment in the food and beverage industry in recent years. In June 2020, after a three-year hold, Peak Rock exited its investment in Gold Coast Bakeries, a California-based maker of specialty and organic breads, buns, and rolls.

“This transaction is another example of Peak Rock’s deep experience in the food and beverage segment,” said Anthony DiSimone, chief executive officer of Peak Rock. “We will continue to seek additional platform investments within the industry across Europe and North America, as well as add-on acquisitions that we believe could benefit from our ability to drive rapid growth and improve performance.”

“Halo represents an exciting opportunity for us to invest in a leading provider within the growing European snacking space,” said Alex Dabbous, managing director of Peak Rock Capital Europe. “We are excited to partner with the company’s talented management team to grow this platform through opportunities such as expanded distribution, product innovation, investments in the company’s operational capabilities and add-on acquisitions.”

Austin-based Peak Rock makes debt and equity investments of $30 million to $300 million in middle-market companies with revenues from $50 million to $1 billion and enterprise values from $50 million to $750 million. Sectors of interest include business and technology-enabled services; consumer products and services; distribution and logistics; energy; food and beverage; healthcare; industrial manufacturing; metals; and technology.

Private Equity Professional | September 22, 2020

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