Stonewall Kitchen

a portfolio company of

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has acquired

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ABOUT THE COMPANY:

Stonewall Kitchen LLC (“Stonewall Kitchen” or the “Company”) manufactures and markets branded specialty food and home goods products. The York, Maine-based Company’s portfolio consists of the flagship Stonewall Kitchen brand; Tillen Farms pickled vegetables and cocktail cherries; Napa Valley Naturals oils and vinegars; Montebello organic pasta; Urban Accents spice mixes, seasonings, and sauces; Vermont Coffee Company organic coffee; and Village Candle fragranced candles, gifts and accessories. The Company has more than 8,500 wholesale accounts nationwide and internationally, a thriving catalog and online direct-to-consumer business, and eleven company stores throughout New England including the flagship campus featuring a store, cafe and cooking school in York.

SITUATION:

Premier specialty foods and home goods producer Stonewall Kitchen, joined forces with financial partner, Audax Private Equity (“Audax”) in 2019. Since being founded in 1991, Stonewall Kitchen grew from working in local farmers markets to an expansive national network of wholesale, retail, and E-commerce channels. Following the partnership with Audax, Stonewall Kitchen sought to expand their Family of Brands through a targeted M&A strategy focused on high quality, best-in-class companies within tangential product categories.

ENGAGEMENT:

G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to Stonewall Kitchen leading a high-touch buy-side effort focused on identifying and engaging with companies that have a strong market presence and quality products within the specialty foods and home goods markets. This segment of the market is a focus area for G2 through its Consumer Retail practice.

OUTCOME:

G2’s mandate with Stonewall Kitchen led to the acquisition of Michel Design Works, which added an enhanced product offering, additional sales channels, and strong operational talent. Together, Stonewall Kitchen and Michel Design Works will leverage a larger national footprint and product expertise to continue to deliver the highest quality of goods to their customers. John Stiker, CEO of Stonewall Kitchen, commented “We are thrilled to welcome Michel Design Works to our growing family of specialty brands. Quality and creativity are at the forefront of everything they do, and their extensive product offering within the home goods space perfectly complements our brands and core values. They are a tremendous addition to the curated collection of brands that we’re bringing together for our customers and guests. It is not always easy to find businesses that complement each other like Michel Design Works and Stonewall Kitchen, but the team at G2 did a great job identifying this opportunity and supporting our team through the process.” “The combination of Stonewall Kitchen and Michel Design Works is a great outcome for all parties involved. Given Stonewall Kitchen’s focus on engaging with companies who are best-in-class, Michel Design Works proved to be a natural fit. They are known in the market for their long tradition of excellence just like Stonewall Kitchen and we look forward to watching these companies flourish as a result of their new partnership.” said Andrew Keleher, Vice President at G2 Capital Advisors.

DEAL TEAM:

SUB-SECTOR

Specialty Food & Home Goods

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