Tully & Holland represents Westminster Cracker Company in its sale to LaSalle Capital Group

December 9, 2009

Tully & Holland, Inc. is pleased to announce another successful sell-side M&A assignment in the food and beverage industry sector. Tully & Holland acted as the exclusive financial advisor to the Westminster Cracker Company, Inc. and its majority shareholder, Cains Foods, L.P., in the sale of Westminster Cracker Company to a leading private equity firm, LaSalle Capital Group, L.P.

Westminster Cracker Company, Inc., established in 1828, manufactures the well-recognized "Made in Vermont" branded oyster crackers found in leading chain restaurants nationwide, including Legal Sea Foods, Capital Grille, Uno Chicago Grill, Oceanaire Seafood Room, and Hilton Hotels. LaSalle Capital Group, L.P., a Chicago-based middle market private equity firm with holdings in consumer products, was attracted to Westminster's widespread brand recognition, proprietary manufacturing process, superior product quality and exceptional management team.

Denis Keaveny, President, Westminster Cracker Company, highlights the transaction, "While Westminster received competitive offers from several top food companies and private equity firms, the deal structure proposed by LaSalle Capital enables Westminster shareholders to maximize net proceeds, maintain employment for all managers and employees and insure a continued presence in the State of Vermont. These were all important considerations in the sale process."