“We have worked with several individuals at Zachary Scott on a variety of engagements ranging from debt and equity investments to due diligence and advisory engagements. Without exception, we have found Zachary Scott to be very responsive and professional.

What sets them apart from other firms with whom we have worked is their candor in openly sharing their reasoned opinions. The team at Zachary Scott takes very seriously the engagements for which they are hired, and they do not simply provide the advice that the client wants to hear.”
Stanley McCammon, President & CEO, Joshua Green Corporation
Food / Beverage / AgriculturePrivate Capital & Family OfficeM&A: Buy-Side
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Situation

Headquartered in Portland, Oregon, Harry’s is a leading producer of chef-inspired fresh refrigerated and packaged soups, entrees, sides, sauces and desserts for the retail and foodservice markets. Harry’s customers include wholesale club stores, grocers, national restaurant chains, distributors and select other outlets throughout the U.S. and Canada. Harry’s was owned by Sun Capital and Main Street Capital, two private equity firms that had teamed up to buy and grow the business after it stalled under the ownership of Basic American Foods. Having been successful in that effort, the owners were looking for the next home for the business. They reached out to a small handful of buyers who were active in the same channels. Joshua Green Corporation (“JGC”), as a result of its ownership of Cuizina Fresh Foods (“Cuizina”) and its long-term investment horizons, was a strong candidate.

ZS Role

Zachary Scott was engaged by the JGC/Cuizina team to assist in evaluating the business, designing the capital structure, and calibrating the transaction.

Results

JGC, through its subsidiary, JGC Foods LLC, purchased the business. This acquisition broadens Joshua Green’s holdings within the food industry. With the addition of Harry’s, Cuizina gained instant access to a wider spectrum of customer channels.