Pasadena, California, U.S., – Green Cuisine (San Fernando, CA), a private label food manufacturer, founded and owned by the Sanderson family, was sold to Fresh & Ready Foods (San Fernando, CA), a portfolio company of Akoya Capital (Chicago, IL), Balance Point Capital (Westport, CT) and Plexus Capital (Raleigh, NC), for an undisclosed sum. Pasadena-based consulting firm, KROST, acted as the exclusive financial advisor to Green Cuisine in the transaction.
Since its inception in 1939, KROST has developed long-term client relationships with Los Angeles-based businesses including Green Cuisine, which has been a client of KROST for multiple generations. As a firm that also provides consulting services beyond traditional accounting and tax, KROST is uniquely positioned to provide advisory services throughout each chapter of a business’ journey. Both the KROST leadership and the Sandersons agreed that a continued partnership for this transaction offered clear benefits to Green Cuisine, as the firm was already familiar with the family-owned operation.
“I am delighted for the Sandersons and confident that the new owners will make a success of the business going forward. We have always had some involvement in M&A, but since we launched a focused practice last year, we have been able to provide a truly comprehensive service to both sell-side and buy-side clients.” Greg Kniss | Managing Principal of KROST
KROST’s M&A practice is led by industry veteran, Paren Knadjian, who joined the firm last year to expand M&A services. Knadjian has over 20 years of experience dedicated to mergers and acquisitions, as well as equity and debt financing closing over $800 million in transaction value throughout his career. The practice leader remarked upon the latest transaction with KROST’s long-time client by saying:
“This was the family’s first transaction since they founded the business and have been operating it ever since. We were able to apply our significant experience in sell-side M&A to help them through the whole cycle and offered advice and support at every step of the process.” Paren Knadjian | M&A/ Capital Markets Practice Leader
When asked about the transaction process, Spencer Sanderson said:“The team at KROST were invaluable in helping us through the transaction – their experience of similar deals and knowledge of the market ensured a beneficial outcome for our family. We are very confident that Fresh & Ready will be excellent custodians of the business going forward.”
KROST Certified Public Accountants & Consultants
Established in 1939, and based in Pasadena, California, KROST Certified Public Accountants & Consultants (formerly known as Krost, Baumgarten, Kniss & Guerrero), is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. We are predominantly a tax firm, with our main industry focus being in the food service, real estate and financial areas.Learn more