CASE STUDIES

FENWICK

BRANDS

MOORE’S MARINADE & SAUCES


FENWICK BRAND:

MOORE’S MARINADE & SAUCES


BRAND DETAILS:

  • 40+ year old restaurant brand from a steakhouse in Jasper, AL
  • Strong heritage and brand equity in flavor

FENWICK ENGAGEMENT DETAILS:

  • Upon acquisition, the Moore’s brand had very limited local distribution but good brand equity in their heritage market
  • Developed full retail product line and to date gained over 15,000 pts of distribution with nationally known retailers
  • Since acquisition, revenues have grown 15% per year on average
  • Value add operational model with strategic co-manufacturer
  • Enhanced broker network to position brand for national distribution
  • Long term innovation pipeline with yearly product introductions

POWELL & MAHONEY


FENWICK BRAND:

POWELL & MAHONEY


BRAND DETAILS:

  • Premium craft cocktail mixer company founded in 2010 and led by industry veteran Mark Mahoney
  • Award winning flavors using only the finest, all-natural ingredients

FENWICK ENGAGEMENT DETAILS:

  • Minority growth capital investment in October 2015
  • Strategic Partner operating in a CMO capacity and leading key packaging and digital initiatives
  • Partnering with management team and strategic broker to position brand for expanded national distribution
  • Board role providing additional strategic, general management, and financial oversight

THE JACKFRUIT COMPANY


FENWICK BRAND:

THE JACKFRUIT COMPANY


BRAND DETAILS:

  • Highly differentiated plant-based meat alternative made from jackfruit, a large, hearty fruit prevalent in India/Asia
  • Jackfruit is a first of its kind whole food meat substitute that is plentiful, high in fiber, low calorie, gluten free and soy free.
  • A global leader in the jackfruit supply chain, working with over 350+ farming families to ethically and sustainably source the highest quality foods in order to transform healthy eating, farmers’ livelihoods and humanity’s eco-footprint for the better

FENWICK ENGAGEMENT DETAILS:

  • Minority growth capital investment in July 2016
  • Foundation in place to take products from natural, niche distribution to mainstream conventional
  • Board role providing general management and financial oversight; co-development of strategic plan

SHEARER’S SNACK FOODS


FENWICK BRAND:

SHEARER’S SNACK FOODS


BRAND DETAILS:

  • HQ: Brewster, Ohio
  • 40 year old snack food company
  • Pioneered the kettle chip at retail and now largest kettle chip manufacturer in the world
  • Company brands include: Shearer’s® Potato Chips, Pretzels, Pork Rinds, and Salsa Con Queso; Tangos Tortilla Chips; and Riceworks whole grain brown rice crisps

 FENWICK ENGAGEMENT DETAILS:

  • Opportunity for investment came to Fenwick because of known expertise in food category
  • Fenwick provided category expertise to due diligence process and market assessments for equity partner pre-acquisition
  • Good management team in place upon acquisition; Fenwick took an advisory role
  • During investment period, Shearer’s expanded their private label kettle chip business which yielded significant growth and need for additional investment
  • Led to exit and sale of business to Mistral Partners who could provide the next level funding for growth

 

PLANTER’S PEANUT OIL


FENWICK BRAND:

PLANTER’S PEANUT OIL


 BRAND DETAILS:

  • Planter’s is a 100+ year old, well-established heritage brand
  • Owned by Kraft Foods since 2000
  • IMC Licensing represented Kraft Foods and negotiated the deal with Fenwick

FENWICK ENGAGEMENT DETAILS:

  • Deal done by Fenwick, d.b.a FCG Oil
  • Corporate business looking for category creation and distribution growth beyond base
  • Zero revenue to a national brand in 2 years
  • Fenwick purchased the licensing rights to package and sell both branded and P/L Planter’s peanut oil, which Planter’s had not done previously
  • Fenwick sourced the bulk oil, developed packaging, managed co-packing agreements and co-managed logistics to customers
  • Fenwick successfully built distribution ground up across multiple channels including grocery stores, club stores, lawn and garden big box stores, hunting/fishing/outdoor chains and smaller hardware channels

 

SPARTAN FOODS


FENWICK BRAND:

MAMA MARY’S


BRAND DETAILS:

  • HQ in Spartanburg, SC
  • 30 year old brand
  • Started regionally, Mama Mary’s is now 2nd largest pizza crust company in the country and is the fastest growing item in the category nationally
  • Current distribution in 50 states with 20,000 locations

FENWICK ENGAGEMENT DETAILS:

  • Fenwick involved in the acquisition of Spartan Foods; regional pizza crust distributed under Mama Mary’s brand
  • Deal brought to Fenwick because of their CPG and Food Category expertise
  • Operating partner and board role
  • Successfully bolted on Mystic Pizza frozen pizza crust product line and created new category for Spartan
  • Identified excess plant capacity and helped create packaged refrigerated pancake, now one of the largest in that category, with distribution to Waffle House, McDonalds and Denny’s