Peapack-Gladstone Financial Corp. and its investment banking division, Peapack Private Investment Banking, will participate in the sale of its client, Randall Farms, a processor of value-added protein products, to Highview Capital. Randall partners with leading grocery store chains on the West Coast to provide all types of processed and value-added meats, including a variety of fresh prepared meals and marinated, ready-to-cook offerings.
Randall has been family owned and operated since 1952 and prides itself on its superior customer service and high-quality fresh product offerings. This transaction will allow for continued growth and geographic expansion. Highview Capital LLC is a private equity fund headquartered in Los Angeles, California. The financial terms of the deal were not disclosed. Peapack Private Investment Banking acted as the exclusive financial advisor to Randall Farms in this transaction.
“Kevin Bodnar and the team at Peapack Private Investment Banking provided exceptional and thoughtful guidance and support,” said Randall Farms owner Stan Bloom. “Their knowledge of the food industry and sensitivity to the objectives of our owners and employees resonated with us.”
This deal represents another successful transaction in the food and beverage space for Peapack Private Investment Banking. The group has also recently advised a prominent family office in its stalking horse bid of a significant food retailer, as well as managed an acquisition program for a nationally recognized food brand. The team continues to see momentum in the food sector and is expecting to be in market with several well-known food enterprises later this year.
“Our experience assisting family-owned, privately held businesses and evaluating strategic alternatives, coupled with our intimate knowledge of the food and beverage business, was a perfect formula to assist Randall’s owners,” said Kevin Bodnar, head of corporate advisory at Peapack Private Investment Banking.
Established in 2019, Peapack Private Investment Banking offers a full range of corporate advisory solutions to middle market companies and their owners, across all major industry sectors. The team specializes in taking a relationship-first approach in every interaction, while providing senior leadership with independent advice. This includes merger and acquisition advisory support, evaluation, and assistance with accessing alternative capital markets, evaluation of strategic alternatives to maximize shareholder value, succession planning and customized structured finance, asset-based and/or enterprise value financing solutions.