Press Release Arca Continental - Wise Foods
MONTERREY, MEXICO - Seale & Associates, Inc. ("Seale") announced that it acted as exclusive financial advisor to Arca Continental, S.A.B. de C.V. (BMV: AC) ("Arca Continental") on the acquisition of Wise Foods, Inc. ("Wise Foods"), a leading U.S. regional salty snack food brand business with a strong presence in the New York Metropolitan market. The acquisition of Wise Foods strengthens Arca Continental's presence in the United States and complements its Bokados branded snack business, which is the third largest in Mexico. Wise Foods was purchased from affiliates of New York-based private investment firm Palladium Equity Partners, LLC ("Palladium"). The transaction closed on December 20, 2012.
Founded in 1921, Wise Foods makes and sells salty snacks on the eastern seaboard of the United States, operating in 21 states from Florida to Maine. Best known for its potato chips, Wise also offers other salty snack products which include cheese snacks, popcorn, tortilla chips and corn chips. The company's iconic brands include Wise Potato Chips, Cheez Doodles, New York Deli Kettle Cooked Potato Chips, Ridgies Potato Chips, and Dipsy Doodles Corn Chips. The Company is headquartered and performs manufacturing activities in Berwick, Pennsylvania. Wise employs approximately 850 employees and produces nearly 40,000 tons of snacks per year.
"We are very pleased to have successfully acquired Wise Foods as part of our strategy to grow our snack foods business in the United States, Mexico and throughout Latin America," stated Francisco Garza Egloff, Chief Executive Officer of Arca Continental. "Seale was instrumental and offered invaluable guidance and support throughout the entire process to ensure we completed this strategic acquisition in a very short timeline. We look forward to working with them again in the future as part of our team."
Arca Continental produces, distributes and sells non-alcoholic beverages under The Coca-Cola Company brand. Arca Continental was formed in 2011 through the merger of Embotelladoras Arca and Grupo Continental, making it the second-largest Coca-Cola bottler in Latin America and one of the largest in the world. Headquartered in Monterrey, the Company serves more than 53 million consumers in Northern and Western Mexico, Ecuador and Northern Argentina. Arca Continental produces and distributes Bokados brand snack foods. Following the acquisition of Wise Foods, the combined snack food operations will result in net sales of approximately US$400 million in 2013. Arca Continental had total sales of approximately US$4.4 billion (MXN 55.8 billion) for the last twelve months as of September 30, 2012. The Company's shares trade on the Mexican Stock Exchange under the ticker symbol "AC".
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.