Astral Brands sells Chesapeake Bay Gourmet, Chesapeake Bay Brand and World Class Fulfillment to Baltimore Crab Cake Company, LLC.
Tully & Holland is pleased to announce another successful sell-side M&A assignment during this period of considerable economic turmoil. The firm represented Astral Foods, Inc., a subsidiary of Astral Brands, in its sale of the Chesapeake Bay Brand, Chesapeake Bay Gourmet, and its World Class Fulfillment businesses to Baltimore Crab Cake Company, LLC. Astral Brands is a private equity owned multi-channel marketer of a portfolio of luxury brands based in Atlanta, GA.
The Baltimore Crab Cake Company was attracted to these category leading brands and related fulfillment capabilities because of their widespread brand recognition and consumer loyalty after 13 years of viewership on leading electronic retail channels, including most notably QVC's 88 million viewers. Recently, Chesapeake Bay Gourmet's award winning frozen seafood products were recognized by Oprah Winfrey's prestigious "O" List.
These brands and their related assets were owned by Astral Brands's food subsidiary, originally sold to its private equity sponsor by Tully & Holland in 2003. This transaction is an illustration of the firm's ability to consummate transactions under difficult economic circumstances, its deep knowledge of the consumer sectors it serves, and the resultant repeat business that the firm enjoys.
As investment bankers focused upon the consumer products sector such as multi-channel marketers, distributors and importers, and food and beverage companies, we would be delighted to hear about situations where our M&A advisory and corporate finance specialists could be helpful. For further information contact Tim Tully at 781-239-2900
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or Stuart Rose at 781-239-2900
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