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P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive investment banker to D&D Ingredient Distributors (“D&D” or the “Company”) and its affiliated entities in its sale to the Swanson Family of Companies, which includes Associated Feed & Supply “(AFS”), Nutrius, and Virtus Nutrition (collectively “Swanson”).
Founded in 1976 and headquartered in Delphos, Ohio, D&D is a family-owned business with deep roots in its community. The Company is a value-added provider of custom pre-mix blends and ingredients to the feed and pet food industries. D&D’s sophisticated manufacturing and operational capabilities, dedicated base of over 130 employees, and in-house logistics capabilities have contributed to D&D becoming a world-class supplier to its customers across the globe.
Arnie Miller, President and a shareholder of D&D, said “We had a number of requirements that we felt a partner needed, and the Swansons fit all of them. We are looking forward to working together as one team going forward.”
Like D&D, Swanson is a third-generation family-owned business. Rick Swanson founded Swanson’s largest operator, AFS, in 1971. AFS specializes in producing, selling, and distributing products for the animal feed market. Matt Swanson, CEO of Swanson, said, “For a number of years, we have wanted to bring our two companies together. Joining D&D represents an important eastward expansion for us and will enable us, with the help of D&D’s highly competent employee base, to better serve existing clients and position us to serve new clients in the D&D market area.”
PMCF served as D&D’s exclusive investment banker in the transaction. Miller added, “We could not have sold our family-owned business of 45 years without the outstanding guidance and knowledge provided by the team at PMCF. Their commitment and dedication were evident by going above and beyond during the entire process in support of a successful closing for our family.” Joe Wagner, Managing Director of PMCF, added “From humble beginnings in their family garage to growing into a global stalworth in the feed and pet food industry, the Miller family deserves this great outcome and we were honored they selected us to serve as their investment banker. We believe the Swanson family is a great new partner that will create meaningful growth for the D&D team.”
The transaction closed in December 2021. Faegre Drinker Biddle & Reath served as the legal advisor to the Company.
PMCF is a middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising, transaction planning and strategic advisory. The firm has dedicated professionals focused on plastics & packaging, business & technology services, automotive, distribution, transportation & logistics, aerospace & defense, medical technology, and consumer & retail industries. PMCF has offices in Chicago, Detroit, Denver, and globally through its ownership in Corporate Finance International™.
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