Chicago, Illinois (September 3, 2021) – City Capital Advisors, a leading boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to Teeny Foods in connection with the sale of the company to CenterGate Capital.
Established in 1964 and headquartered in Portland, Oregon, Teeny Foods specializes in manufacturing on-trend and portable, frozen, filled baked snacks and handheld meals for consumer brands throughout the United States. Its partners rely on Teeny to produce a wide variety of customized products which can be individually wrapped, or bulk packaged. “We are very proud of the 55+ year legacy we have built at Teeny Foods and are excited about the future growth opportunities of the business under CenterGate’s ownership,” commented Rick Teeny, whose family founded the business decades ago. “We believe CenterGate will be a great partner in carrying on the Teeny legacy for many years to come.”
General Manager Darryl Abram, who has been with the company since 1999, will continue to lead Teeny Foods. “We are excited about our partnership with CenterGate and what it means for our employees, customers, and vendors,” commented Abram. “CenterGate’s investment will provide us with the capital and strategic resources to continue to grow while maintaining our focus on the highest quality products and exceptional customer service.”
“This transaction represents another example of City Capital’s commitment to partnering with family-owned companies to advise them in the successful transition of their business legacy to new ownership,” commented Rachel Corn Kluge, Managing Director at City Capital Advisors. “It also underscores our extensive experience with contract manufacturers and packagers serving the food industry and represents our fifth transaction within the sector in recent years.”
About Teeny Foods
Teeny Foods is a leading developer and contract manufacturer of high-value frozen bakery snacks and handheld meals for branded food companies selling through foodservice and retail grocery channels. Teeny’s products include individually frozen, fully finished sweet and savory filled bakery products in a variety of shapes and sizes. Headquartered in Portland, Oregon, the company operates a state-of-the-art manufacturing facility from which it serves customers throughout the United States.
About CenterGate Capital
CenterGate Capital is an Austin, Texas based private equity firm focused on partnering with lower middle market companies with the potential to achieve transformational growth through operational and strategic development. CenterGate brings a balance of financial and operational experience and strategic insight to assist management in driving long-term sustainable growth.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives. For more information, please visit www.city-cap.com.