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Source Says Snow Phipps Wins PE-backed Teasdale Foods for About $200 Million
2014-10-30 20:09:06| Food - Topix.net
New York private equity firm Snow Phipps Group LLC has emerged as the winning bidder for Teasdale Foods Inc., the provider of Hispanic canned food products that was acquired only three years ago by Palladium Equity Partners LLC. Terms of the transaction, which closed on Tuesday, weren't disclosed but a source familiar with the process said Snow Phipps paid around 10 times the target's about $20 million in revenue, implying a deal valued at roughly $200 million. The auction process included financial players that wanted to enter the burgeoning Hispanic food category and felt they could fuel additional growth in Teasdale, the source said.
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Category:Food and Related Products