Harris Williams, a global investment bank specializing in M&A advisory services, announced that it advised Indulge Desserts Intermediate Holdings, LLC (Indulge Desserts), a portfolio company of AUA Private Equity Partners, LLC (AUA Private Equity), on its sale to Emmi Group (Emmi). Indulge Desserts is a manufacturer of premium gourmet desserts, offering a full line of American and international, all-natural products to the foodservice and retail markets across the U.S. The transaction was led by Tim Alexander, Brant Cash and Brant Wilczek of the Harris Williams Consumer Group and Andreas Poth of the firm's Frankfurt office.
“Indulge Desserts is known for its globally inspired dessert offerings and innovative spirit, and has found an ideal partner in Emmi,” says Brant Cash, a managing director at Harris Williams. “We are excited to have had the opportunity to facilitate this strategic partnership, in a deal that extends our successful track record advising clients in the baking industry.”
“Indulge Desserts has grown steadily under AUA Private Equity’s ownership and now offers Emmi access to its long-standing customer relationships in the foodservice, retail and e-commerce channels. With its strong market position in the U.S., this combination will allow Emmi to expand its desserts business into the growing North American market,” adds Brant Wilczek, a vice president at Harris Williams.
Indulge Desserts brings together four Greater New York area companies specializing in the production of premium gourmet desserts: Taste it Presents, Cannoli Factory, Love & Quiches and Joey’s. This platform enables Indulge Desserts to offer its customers – in the foodservice sector, retail and e-commerce segments – a comprehensive range of American and international desserts. The activities of the company are spread across four highly flexible and versatile manufacturing facilities in the New York metropolitan area.
AUA Private Equity is a New York based, operationally-focused, lower-middle market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the U.S. Hispanic population. AUA Private Equity makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA.
Emmi is a major Swiss milk processor. The company dates back to 1907, when it was founded by 62 dairy farming cooperatives around Lucerne. Over the past 20 years, Emmi has grown into an international, listed group. It has for many years pursued a successful strategy based on three pillars: strengthening its Swiss domestic market, international growth and cost management. Throughout its corporate history, Emmi’s keen awareness of its responsibility to society, animal welfare and the environment has been fundamental to its mission.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on the Harris Williams Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.
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