Chicago, Illinois – July 1, 2019 – City Capital Advisors, a Chicago-based middle market investment bank, is pleased to announce that it served as the exclusive financial advisor to Welcome Dairy Holdings in the recapitalization of the Company with New Heritage Capital.
Welcome Dairy Holdings was created through the 2016 merger of Welcome Dairy, LLC and Gamay Food Ingredients, LLC to provide customers with a full-service cheese ingredient offering from product development through final manufacturing. The Company is a leading provider of dairy flavorings, cheese sauces, seasonings and functional cheese products formulated by extensive in-house R&D and production capabilities.
“Welcome Dairy has been our family’s business going back nearly seventy years, and it was important for us to find a partner who would enable us to retain operating control and preserve our legacy,” said Terry Eggebrecht, CEO of Welcome Dairy. Terry Schneider, President and Chief Operating Officer of Gamay Food Ingredients, added, “We have worked tirelessly over the years to build our unique culture focused on customer experience and product innovation. The team at City Capital did a tremendous job in identifying and approaching the right potential partners, as well as negotiating and executing this transaction on our behalf.”
Mark Timmerman, Managing Director at City Capital added, “We are confident that Welcome’s partnership with New Heritage Capital will prove to be a pivotal step in the Company’s long-term success. Having such a strong and talented partner like New Heritage will further position Welcome as the market leader for providing food and foodservice companies best-in-class dairy ingredients developed from the Company’s proprietary recipes and production methods.”
About Welcome Dairy
Welcome Dairy represents the combined interests of Welcome Dairy, LLC and Gamay Food Ingredients, LLC, two companies that worked together for decades and officially merged in 2016. The Company is the go-to provider of dairy-based products and ingredients, having developed an impressive collection of proprietary recipes catering to a diversified, blue-chip customer base. Family-held Welcome Dairy traces its roots back to the late 1800s, when the Company was first established as a local manufacturer of Colby cheese in Colby, Wisconsin.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a middle market investment bank focused on family-owned and closely-held private companies. Client engagements are managed exclusively by senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital Advisors’ investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.