Target: Columbus Manufacturing Inc.
Sponsor: Arbor Investments
Seller: Endeavor Capital Inc.
Founded in 1917 by Italian immigrants Peter Domenici and Enrico Parducci, the Hayward, Calif.-based company, formerly known as the San Francisco Sausage Co., produces artisanal salamis, deli meats and other deli items.
The seller is Endeavor Capital Inc., a Portland, Ore.-based firm, according to the filing. The Federal Trade Commission granted the parties early termination of antitrust review on Oct. 3.
Arbor is making the investment out of its third fund, a $400 million pool of capital it closed late last year.
Columbus Manufacturing is right in Arbor’s wheelhouse. The firm exclusively targets companies in the food and beverage industries. Its criteria offer a window into Columbus’s size: Arbor typically targets companies with sales of up to $300 million and that generate EBITDA of $10 million to $30 million.
Endeavor targets companies in the western U.S., typically investing $25 million to $100 million in companies with EBITDA of $5 million to $50 million. Sectors of interest include transportation and logistics, food and consumer, and education and training, among others.
The realization would accrue to its fourth fund, a $280 million vehicle it launched in 2004, according to Capital IQ. The firm, which also has offices in Seattle and Los Angeles, has steadily increased the size of its funds. Most recently, it closed its sixth fund last October with $675 million in commitments.
An executive at Arbor declined to comment, while executives with Endeavor and Columbus were not immediately available.