Haynes and Boone Advises Specialty Food Firm Parker Products on Sale
October, 2017 - Dallas, Texas
10/03/2017
Haynes and Boone, LLP has represented Parker Products in the negotiation of an investment by The Riverside Company. Parker Products and The Riverside Company have not disclosed the terms of the deal.
Fort Worth-based Parker Products is a leading provider of specialty ingredients for the baking, dairy, beverage, confectionery, RTE and snack, and foodservice industries.
Haynes and Boone Partners Suzie Trigg and John McGowan led the team representing Parker. Other team members include Partners Sam Lichtman and Vicki Odette and Associates Kellie Bobo and Catherine Peterman.
Riverside has a growing portfolio of specialty food companies, including Tate's Bake Shop, Nustef Foods, Uinta Brewing Company and YumEarth.
Parker's leadership team, including company President Greg Hodder, is expected to remain in place after the acquisition is complete, the company said in a press release. Parker broke ground on a new state-of-the-art facility in far northwest Fort Worth in December and plans to relocate the company's operations there in early 2018. The new facility will triple total production capacity, the company said.
"The acquisition of Parker Products by The Riverside Company is an investment opportunity that will accelerate growth," Hodder said in the company's release. "It will allow us to increase our capabilities and expand our product offerings. At the same time, we will still continue to offer our customers the same great service and intriguing ingredients we have always provided. For our longtime customers, the only change will be an increased capacity to meet their needs and offer them exciting new product possibilities."
