YoCrunch hires Houlihan for sale

This article is provided to FT.com readers by mergermarket—a news service focused on providing actionable, origination intelligence to M&A professionals. www.mergermarket.com
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YoCrunch, the Naugatuck, Connecticut-based yogurt maker owned by private equity firm Catterton Partners, has hired Houlihan Lokey to help sell the company, two industry bankers told mergermarket.

Houlihan Lokey and Catterton declined to comment. YoCrunch did not respond to calls for comment.

The company generated less than USD 30m in EBITDA, one of the bankers said. A third industry banker, who was not aware of the process, estimated YoCrunch to generate approximately USD 20-30m in EBITDA. Quebec-based Liberte Yogurt, a competitor in the segment, reportedly sought out a sale price of USD 250m in its December 2010 sale to dairy company Yoplait. The final sale price for Liberte was not disclosed.

Healthy Food Holdings, a portfolio company of Catterton Partners, originally acquired the YoCrunch brand from CoolBrands International, makers of Breyers ice cream, in January 2007. Terms of that transaction were not disclosed.

YoCrunch primarily manufactures and markets yogurt packaged with crunchy toppings, such as granola or M&Ms candies, made by confectioner and food giant Mars.

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