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Deal Name: |
F&F Foods, Inc. |
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Industry: |
Manufacturing |
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Description: |
GemCap, a national investment and asset-based lending firm, is pleased to annouce the acquisition of F&F Foods, Inc., a leading manufacturer of branded and private-label cough drops, mints, candies and supplements marketed under Smith Brothers®, Daily C®, Sen-Sen®, and Foxes® brands. Through a wholly owned subsidiary, Universal Holdings, GemCap acquired F&F’s senior debt position from Gordon Brothers and subsequently purchased the assets of F&F from the Assignee (Development Specialists, Inc.).
“F&F carries iconic brands and GemCap looks forward to participating in F&F’s future growth,” states David Ellis, Co-President of GemCap. “F&F produces quality, innovative products. The company has been undercapitalized and we are excited to provide the necessary capitalization and infrastructure to reach the next level.”
“F&F has a very talented team. Many employees have been here over ten and twenty years,” continues Richard Ellis, Co-President. “We intend to build on this solid platform by providing the necessary capital expenditures, engineering, and additional team members.”
About GemCap: With headquarters in Santa Monica, Calif., GemCap (www.gemcapsolutions.com) is an equity investor in low and middle-market sized companies. GemCap also provides asset-based loans, ranging from $1 million to $10 million, as a senior-secured lender. The company serves businesses within the United States. |
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Deal Size: |
$7,500,000.00 |
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Deal Date: |
2/26/2010 |
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Submitted By: |
Richard Ellis
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Business Forum Generated: |
No |
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