North Castle Partners Completes Sale of Flatout Holdings
April 3, 2015 - Morrison Cohen client North Castle Partners, and its co-investors, sold Flatout Holdings, Inc., a manufacturer and marketer of premium flatbreads, to T. Marzetti Company, a wholly owned subsidiary of Lancaster Colony Corporation for approximately $92 million on a cash-free, debt-free basis. For North Castle Partners, a leading private equity firm focused on consumer businesses that promote Healthy, Active and Sustainable Living, the transaction represents another successful exit in the nutrition sector. In 2010, Morrison Cohen represented North Castle Partners, along with several co-investors, in the recapitalization of Flatout in partnership with co-founders Stacey and Mike Marsh. For further information about the transaction, click here.
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