Case Study:

Insight Beverages, Inc.


Company: Insight Beverages, Inc. ("Insight Beverages")
Buyer: Kerry Group, plc ("Kerry")
Transaction Type: Sale

"The Farlie Turner team offered big bank experience and relationships, while conducting a customized M&A process that was tailored to our needs. Their understanding of the food and beverage industry, along with an understanding of our convenience store, foodservice and QSR end-markets, yielded a strong result for our shareholders."

Andy Burke
CEO
Insight Beverages


Company Profile

  • Insight Beverages' product offering includes specialty coffee, cappuccino, hot cocoa, frozen beverages, frozen and iced coffee, capsule formulations, stick packs, smoothies, iced tea, premium lemonade and functional beverages
  • Serves a customer base of over 75 international clients, including dominant players in the convenience store industry

Situation Overview

  • The shareholders were seeking a majority sale
  • Farlie Turner worked with the shareholders to understand their goals, which included limited rollover equity, speed-to-closing and maximum purchase price

Marketing Process Summary

  • Farlie Turner approached a limited group of strategic acquirers with significant synergies and ample financial wherewithal to consummate a transaction
  • Farlie Turner postponed conversations with private equity firms as we knew that they would have strong interest at an attractive valuation, though not at the same valuation that a strategic could pay

Outcome

  • Entered into exclusive negotiations with Kerry Group plc prior to management presentations
  • A tailored process limited the amount of confidential information that was disclosed (private equity groups did not review the transaction and strategic parties (other than Kerry) were limited to the confidential information memorandum, which included coded customer, supplier and other information)
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