Tully & Holland, Inc. advises M&I Seafood Manufacturing Company

August 31, 2003 - Tully & Holland, Incorporated of Wellesley Hills, MA represents M&I Seafood Manufacturing Company, Incorporated of Baltimore, MD in the sale of its stock to Valor Equity Partners, Chicago, IL.
M&I Seafood Manufacturing Company, a privately-held manufacturer and marketer of branded frozen seafood and related products sold under the Chesapeake Bay Gourmet® brand name, is one of the leading frozen seafood brands in the United States. Exceptionally high product quality and distribution of its products directly to consumers through electronic retailers that include QVC and America On Line, have helped to fuel a rapid rate of growth for this brand.

Valor Equity Partners, a Chicago, IL-based private equity firm that invests in lower middle market companies with a strong track record and existing management team purchased the assets of M&I Seafood Manufacturing Company.
Antonio J. Gracias, Managing Member of Valor Equity Partners expressed an interest in M&I due to its "strong brand name recognition, unique market position and attractive historical growth rates." Timothy W. Tully, President of Tully & Holland, Inc. adds that M&I is an "attractive strategic acquisition candidate that not only represents a platform for entry or expansion into the rapidly growing electronic commerce but also brings with it one of the best known brands in the seafood industry."

Tully & Holland, Inc., an investment bank established in 1992, provides M&A advisory, capital raising, and other corporate finance services primarily to retailers, direct marketers, and consumer product manufacturers and distributors, with a special emphasis on catalogers and food companies. Member NASD, SIPC, Direct Marketing Association, National Retail Federation, Association for Corporate Growth, and Massachusetts Food Association.