Positioning an Oregon food inclusions company appropriately as a food science firm garners the deal they deserve, with a global leader
Norm Duffett advised the sale of Tualatin, OR based Janna’s Classics to multibillion, multinational Kerry Group plc, of the UK. Jana’s Classics, Inc. developed and manufactured innovative food inclusions for the dairy industry.
A food scientist with an idea
Jana Taylor, who has a PhD in food science, started her business in her kitchen. With time, she brought in experienced food executive Val Brown as partner. By the time of the sale 20 years later, the company occupied a 75,000 square foot facility in Tualatin, OR, and employed 130 people. Jana was the innovator of “ice cream inclusions” such as tiny cookie or brownie pieces mixed into premium ice creams. Jana’s Classics specialized in mass customization with artisan-style detail.
Norm and his team developed an Information Memorandum positioning Jana’s Classics as a food science company. They ran a controlled auction between targeted prospective buyers. Kerry Group was the buyer willing to pay the most. Norm negotiated and closed a successful all cash deal, for a price exceeding Jana and Val’s expectations.
Kerry Sweet Ingredients was the division that bought Jana’s. They perceived Jana’s as a successful innovator with growing market share. They also indicated their endorsement of the management team and facilities by maintaining and augmenting the facility post acquisition.