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C.W. Downer & Co. Assists Landshire, Inc. With the Sale of its Manufacturing & Wholesale Operations to AdvancePierre Foods

BOSTON, March 9, 2015 – C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Landshire, Inc. (“Landshire”) has sold its manufacturing and wholesale operations to AdvancePierre Foods (“AdvancePierre’), an affiliate of Oaktree Capital Management, L.P. (“Oaktree”). The deal closed on January 30, 2015 and the financial terms were not disclosed.

Founded in 1961 and headquartered in St. Louis, Missouri, Landshire, Inc. has grown into one of the largest producers and distributors of high-quality, ready to eat sandwich products, breakfast foods and other complimentary products. Landshire has been owned by the Trover family since the 1960s. The transaction involved the sale of Landshire’s manufacturing facility located in Caseyville, Illinois. This state of the art facility produces over 80 varieties of sandwiches, including patties, wedges, subs and breakfast products. The facility will provide AdvancePierre with a new set of premium products and will add significant capacity to their growing prepared sandwich business.

As part of the transaction, AdvancePierre will also acquire certain wholesale accounts (including major grocery and distributor customers) that will be serviced directly from the Caseyville facility. The Trover family will retain its proprietary direct store delivery (“DSD”) distribution operation that serves over 10,000 convenience stores in 23 states. The DSD business will be known as “Landshire Distribution” and will continue to act as a distribution partner for AdvancePierre.

“Landshire has built a truly world-class operation at its Caseyville plant and this was a critical factor in the success of our process,” said Jeffrey Robards, Managing Director at C.W. Downer & Co. “The Trover family and the Landshire management team will now be able to focus on growing Landshire Distribution and making investments to transform this business into a leading national provider of prepared food items for the convenience store channel.”

The transaction represents another successful mandate for C.W. Downer in the Food industry and, in particular, the prepared sandwich industry. In recent years C.W. Downer has assisted with multiple acquisitions and divestitures in this industry niche including a series of six US prepared food acquisitions by Greencore Group plc.

The C.W. Downer & Co. team assisting Landshire with the sale included Mr. Robards (Managing Director), Greg Fanikos (Director), Chris DiPietro (Associate) and Mike Fernandes (Analyst).

About C.W. Downer & Co.

C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 40 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With nine fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover hidden acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

For Further Information:

Jeff Robards, Managing Director
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C.W. Downer & Co.
+1 617 482 6200

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