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South-Am sold a majority interest to Van Drunen Farms
Background: South-Am Freeze Dry SpA (“South-Am”), founded in 2004 and based in Chile, is a full-service manufacturer of premium freeze-dried fruits, vegetables, and powders, driven by top standards of food safety and traceability. South-Am fuses creativity and innovation with world-class quality standards.
Cassel Salpeter:
Served as financial advisor to the Company
Distressed operations with excess plant capacity and negative cash flow
Spin-out of a non-core business unit
Challenges:
Niche industry with a limited number of potential buyers
Expedited timeline to close
Spin-out of a non-core business unit
Outcome: On August 14, 2019, Van Drunen Farms (“VDF”) acquired a majority interest in South-Am. VDF is a world leader in agriculture, food science, and dehydrating fruits, vegetables, and grains.
The partnership formed between South-Am and VDF provided South-Am with a significant minority stake, and quickly filled excess plant capacity, providing a path to profitability.
https://www.casselsalpeter.com/wp-content/uploads/2024/05/CS_Website-Case-Study-Logos_05.03.24_SOUTH-AM.jpg321385roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2019-08-01 17:23:142024-05-03 18:05:05South-Am sold a majority interest to Van Drunen Farms
