Armand Agra, a portfolio company of Founders Group of Food Companies in partnership with the Flocchini family, has acquired MacDonald Meat Company.
MacDonald Meat Company (Mac Meat) is a processor and distributor of meat products to the US Pacific Northwest and also exports its products to customers across the Pacific Rim. Mac Meat supplies a range of beef products, including portion control products, branded Certified Angus Beef items, as well as custom grounded products for local burger chains.
Mac Meat is one of the first companies in the industry to possess a Certified Angus Beef export certification for China, and today the company sells products throughout Asia. The company was founded in 1933 and is headquartered in Seattle (www.macmeat.com).
Armand Agra operates meat and seafood businesses under the names Sierra Meat & Seafood, Flocchini Family Provisions, and Durham Ranch. The company processes and distributes private label and branded meat and seafood products, including a variety of specialty meats (bison, wagyu, venison, elk, and wild boar), which it markets under the “Sierra” and “Durham Ranch” brands. The company, led by CEO Chris Flocchini, is headquartered in Reno, NV (www.sierrameat.com) (www.flocchinisausage.com) (www.durhamranch.com).
“We are pleased to be the new owners of Mac Meat and welcome them into the Armand Agra family. We look forward to building upon their rich history in the Pacific Northwest and continuing to grow and support existing and new customers,” said Mr. Flocchini.
“MacDonald Meat complements our strategy of building a group of decentralized but integrated companies by acquiring durable, long-standing food businesses. It represents a unique opportunity to significantly scale our Armand Agra specialty protein business into the Pacific Northwest,” said Derek Senft, a Partner of Founders who led the transaction.
“We are thrilled about this acquisition and believe that MacDonald Meat is an excellent complement to Armand Agra. We see both companies benefiting from an expanded product line for customers and improved procurement practices,” said Richard Harris, a Partner of Founders and Executive Chairman of Armand Agra.
Founders Group of Food Companies (formerly Tricor Pacific Founders Capital) is a family-owned company that invests its own capital and applies operating know-how, to build a group of food businesses. The firm is based in Vancouver, BC (www.foundersfoodgroup.com).
RSM provided transaction advisory services for this transaction and CIBC provided the debt financing.
© 2018 Private Equity Professional | September 17, 2018
