RubinBrown Food & Beverage Update 2015

M&A Activity Overview: 2014-2015 Deal Spotlight

Cott Corporation / DSS Group, Inc. On November 6, 2014 Cott Corporation entered into a definitive merger agreement to acquire DSS Group, Inc from Crestviews Partners II, L.P. and other shareholders for $1.3 billion. The consideration included cash payments and the assumption of $350 million of debt issuance of convertible and non-convertible preferred shares of Cott Corporation. The acquisition of DSS Group allows Cott to enter the water and coffee home delivery, water filtration, and water retail markets.

MOM Brands Company / Post Holdings, Inc. On January 25, 2015, Post Holdings, Inc. entered into a definitive agreement to acquire MOM Brands Company for $1.2 billion in cash and stock. Under the terms of the agreement, at closing Post paid $1.05 billion in cash and issued the current owner of MOM Brands approximately $2.45 million shares of Post Holdings common stock. MOM will give Post a portfolio of cereals aimed not only at budget-conscious consumers, but also those interested in foods free of additives and preservatives.

Hormel Foods Corp. / Applegate Farms, LLC On July 14, 2015, Hormel closed its acquisition of Applegate Farms for $775 million. Applegate is a leading brand in the natural and organic value-added prepared meats category and will operate as a stand-

alone subsidiary in Hormel’s Refrigerated Foods segment.

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Food & Beverage Industry Sector: 2015 Mid-Year Update

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