Business Description:
21st Century Grain Processing ("21C") operates oat and
flour mills as well as food-grade corn processing facilities. The
company offers oat flakes, oat flour, coated oats and other oat related
products, whole wheat, white flour and white and yellow food
grade corn products. The company serves consumer-based food and
personal care companies from its locations in New Mexico,
Texas, California, and Nebraska. The company
was founded in 1996 and is based in Kansas City, Missouri.
Falcon Solution:
Falcon partnered with a non-traditional private equity group with
deep food industry experience to provide a financing solution to
support management's acquisition of a non-core milling operation
from a leading branded food company. Falcon recognized the acquisition
opportunity as an important component to growing 21C's specialty
grain and ingredient platform. Falcon's initial and subsequent
investments in 21C provided capital to support strategic growth,
acquisition and expansion opportunities.
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Industry:
Specialty grain-based ingredient
food processing
Sponsor:
Non-traditional private equity group
Securities:
Redeemable PIK preferred units with warrants
Financing Challenge:
Acquisition of a non-core but fast growing grain processing division of a publicly traded parent
Exit Date:
Current investment
Company Website:
http://www.21stcenturygrain.com/ |