Private Equity Doesn't Have A Sweet Tooth

Private Equity Doesn't (Historically) Have A Sweet Tooth US LBOs in Candy Sector: 2004-2009 peHUB.com Date Effective/ Unconditional 04/11/05

Target Name

Acquiror Full Name

Bobs Candies

Farleys & Sathers Candy Co Inc

08/15/05

Hill & Valley Inc

Circle Peak Capital LLC

06/23/06

Promax Nutrition Inc

Marwit Capital Corp

02/26/07

Bogdon Candy Co

Dynamic Confections Inc

10/12/07

Topps Co Inc

Investor Group

11/14/07

Brachs Confections Inc

Farleys & Sathers Candy Co Inc

12/31/07

New England Confectionery American Capital Strategies Ltd Co

01/15/08

Impact Confections Inc

Brazos Private Equity Partners LLC

04/30/08

Sorbee International Ltd

Werther Partners LLC

07/18/08

Pure of Holland LLC

Promax Nutrition Corp

08/20/08

Hospitality Mints LLC

Linsalata Capital Partners

Source: Thomson Reuters, peHUB.com

Acquiror Ultimate Parent Catterton Partners

Ranking Value inc. Net Debt of Target ($Mil)

Circle Peak Capital LLC

10.500

Marwit Capital Corp

15.000

Dolphin Capital Group Investor Group

Catterton Partners

American Capital Ltd

Brazos Private Equity Partners

304.783

Synopsis US - Farley's Sathers Candy Co, a unit of Catterton Partners, acquired Bob's Candies, a manufacturer of candies. US - Circle Peak Capital LLC acquired Hill & Valley Inc, a producer of baked sugar free and no-sugar-added sweet goods, in a leverage buyout transaction, for $10.5 mil in cash. US - Marwit Capital Corp acquired Promax Nutrition Inc, a producer of energy bars, for $15 mil, in a leveraged buyout transaction. US - Dynamic Confections Group acquired Bogdon Candy Co, a manufacturer of chocolate candy products. Terms were not disclosed. US - An investor group, comprised of Tornante Co LLC and Madison Dearborn Partners LLC, acquired all the outstanding common stock of Topps Co Inc (TC), a manufacturer and wholesaler of candy and collectibles, for $9.75 in cash per share, or a total value of $386.39 mil, in a leveraged buyout transaction. The transaction was subject to shareholders and regulatory approvals and customary closing conditions. Subsequently, Upper Deck Co planned to acquire TC. US - Farleys & Sathers Candy Co Inc, a unit of Catterton Partners, acquired Brachs Confections Inc, a producer of confectionary products, from the Barry Callebut AG subsidiary of Jacobs Holding AG. US - American Capital Strategies Ltd acquired New England Confectionery Co (NE), a producer of candy and other confectionery products, from UIS Inc (UI). Originally, in October 2006, UI announced that it was seeking a buyer for its NE unit. US - Brazos Private Equity Partners LLC acquired Impact Confections Inc, a producer and wholesaler of confectionery products, in a leveraged buyout transaction.

Werther Partners LLC

US - Werther Partners LLC acquired Sorbee International Ltd, a producer and wholesaler of confectionary products in a leveraged buyout transaction.

Marwit Capital Corp

US - Promax Nutrition Corp, a wholly-owned unit of Marwit Capital Corp acquired Pure of Holland LLC, a manufacturer of nutritional food products. Terms were not disclosed. US - Linsalata capital Partners acquired Hospitality Mints LLC, a producer of mints and candies, from American Capital Ltd, in a leveraged buyout transaction. Terms were not disclosed.

Linsalata Capital Partners

Target Advisors

Target Primary SIC Code Description Candy and other confectionery products Candy and other confectionery products

Candy and other confectionery products Candy and other confectionery products Lehman Brothers

Chewing gum

Candy and other confectionery products

JP Morgan

Candy and other confectionery products

Houlihan Lokey Howard & Zukin

Candy and other confectionery products

Candy and other confectionery products

Candy and other confectionery products

Houlihan Lokey Howard & Zukin American Capital Strategies

Candy and other confectionery products