Transaction Summary
Simeus Foods International, Inc. was a food products business, producing premium quality, customized food solutions, such as fully cooked meats and poultry items, liquid offerings such as sauces, glazes, soups and side dishes, for national chain restaurants, food product manufacturers and food product packers.
The Situation
The company was facing severe liquidity constraints and sought to find a strategic buyer. After reaching out to a select audience, it failed to secure a buyer on its own.
The Transaction
Keen, was retained to sell the business as a going concern. Real estate assets included 140,000+ SF manufacturing facility in Mansfield, TX and 170,000 SF manufacturing facility in Forest City, NC.
- 85 parties requested the teaser
- 60 parties executed an NDA
- 5 parties submitted offers
Exactly 5 weeks from the commencement of its engagement, Keen successfully sold, for an undisclosed sum, the company to a strategic buyer preserving the going-concern value and saving jobs.
Reference
- Douglas Hopkins, Kestrel Advisors, financial advisor, T: (973) 568-7642, sdhopkins@kestrelllc.com
