Tag Archives: food industry

SC&H Capital Advises Beef International, Inc. in its Sale to RKW Holdings, LLC

SC&H Capital Advises Beef International, Inc. in its Sale to RKW Holdings, LLC

For Immediate Release | May 27, 2020

SC&H Capital, a leading investment bank specializing in M&A advisory, announced it acted as the exclusive investment banker to Beef International, Inc. (“Beef International”) in the sale of its equipment and inventory assets to RKW Holdings, LLC (RKW), a Delaware Corporation.

Beef International, a custom manufacturer of premium meat products, engaged SC&H Capital to explore strategic options for the company, and after completing an extensive process, ownership felt the offer presented by RKW was the best fit.

Matt LoCascio, Principal at SC&H Capital, said, “When we received the offer from RKW, we knew it was the right choice for Beef International. This sale gives them the chance to capitalize on new opportunities in an uncertain marketplace, which feels particularly important as they release products that have seen significant growth and consumer demand, such as meal kit delivery services. The time we took to identify potential acquirers was well worth it, and I’m thankful the transaction will keep this essential business operating and keep their valued employees on board.”

Founded over 35 years ago, Beef International specializes in manufacturing roast beef, corned beef, pastrami, pot roast, ribs, Osso Bucco, shredded pork, and other protein products. The operation is run out of a U.S.D.A. approved 36,000 square foot facility and is SQF level 2 and Halal certified.

Wayne Voshell, President of RKW, Holdings, LLC, announced Friday, May 15, 2020, to the 60 plus employees that their jobs were safe and that they would remain employed at the current Pennsauken, New Jersey location as RKW had signed a lease agreement with the current landlord. Voshell stated, “The COVID-19 pandemic has affected us all, and we are committed to supporting both our customers and team members.”

Over the next few months, RKW will operate as BI-Foods, LLC, a wholly-owned subsidiary of RKW Holdings, LLC, that was formed last year when discussions to purchase the assets began. The company will continue to produce roast beef, corned beef, and pastrami; however, a new line of products is set to launch June 1, 2020, which will include fully cooked, various types of ribs, pork roast, sous vide chicken, beef, and pork as well as a line of shredded chicken, beef, and pork. These items are portion-packed, frozen, and ready for consumers to “heat & eat.”

A report from the American Frozen Food Institute (AFFI) confirmed the growing trend among shoppers during the pandemic stating, “Frozen foods have emerged as a sales powerhouse amid COVID-19 buying,” citing a 94% jump in mid-March of frozen food sales.

Kevin Ingraldi, a member of RKW, added, “The prepared, value-added category is growing rapidly with consumers, and we are ready to meet the demand. Food supply is an important part of our economy, and keeping that supply consistent and safe is the new company’s mission. There are some exciting things to come. After the launch of the new items, we will begin to do business as “Value-Added Foods Group” to better align our brand with the new offerings.”

Other professionals who worked on the transaction include:

  • Marc Ross, HBM Management Associates, LLC, consultants to Beef International
  • Bill Wanger and Michael Viscount of Fox Rothschild, counsel to Beef International
  • Rich Gallucci, counsel to RKW Holdings, LLC

Beef International to Sell Operations to RKW Holdings in Deal Arranged by Equity Partners HG

 

Beef International to Sell Operations to RKW Holdings in Deal Arranged by Equity Partners HG

November 6, 2019

Beef International Inc., (BI Foods) a custom manufacturer of premium meat products, announced that it has reached an agreement to sell its business operations and certain assets to RKW Holdings, LLC (RKW).  The transaction is expected to close within the next 30 – 45 days.  RKW will continue to operate the business out of the existing Beef International location in Pennsauken, NJ and employ over 50 people.

BI Foods retained Equity Partners HG earlier this year to explore strategic options for the Company and after completing an extensive process, ownership felt the offer presented by RKW was the best fit. Matt LoCascio, a managing director at Equity Partners HG, added “The offer from RKW compliments the existing business and employees of BI Foods and will allow them to pursue their growth objectives.”

Founded over 35 years ago, BI Foods specializes in manufacturing roast beef, corned beef, pastrami, pot roast, ribs, osso bucco, shredded pork and other “value-added” protein products. The operation is run out of a U.S.D.A. approved 36,000 sq. ft. facility and is SQF level 2 and Halal certified.

“We are excited for the opportunities to grow the business and build upon BI Foods commitment to provide its customers with high-quality protein products.” said Kevin Ingraldi, RKW’s President.  “We will be working to provide our customers with new “value-added” offerings, in addition to our existing products. We look forward to expanding upon the quality reputation BI Foods has in the markets that it services including service major food-service distributors, restaurant chains, supermarkets and specialty food providers.”

Marc Ross of HBM Management Associates, LLC, consultants to BI Foods, commented, “RKW’s significant experience will translate into great things for the Company.  I believe the plans they have proposed to grow the Company and expand its product offerings fit well with the history of BI Foods and the great management team here. There are some exciting things to come in the future and I look forward to seeing them grow and prosper.”