NEW YORK, June 7, 2018 /PRNewswire/ -- TM Capital Corp. is
pleased to announce that Tate's Bake Shop - one of the fastest growing cookie brands in the U.S. and a portfolio company of The
Riverside Company - has been acquired by global snack and beverage giant, Mondelēz International (NASDAQ: MDLZ). TM Capital
served as a financial advisor to Tate's in this transaction valued at approximately $500
million.
TM Capital previously advised Tate's, and founder Kathleen King, in its 2014 recapitalization
with The Riverside Company. Tate's is renowned nationwide for its beloved, signature thin-and-crispy cookies made with simple,
high-quality and authentic ingredients. Over the past five years, Tate's has doubled its brand awareness and achieved a 4x
increase in sales and earnings by deepening existing customer relationships, expanding distribution, boosting its national sales
and marketing team, launching new products and significantly expanding and improving production processes.
Craig Gibson, Head of TM Capital's Consumer Group, commented: "We told investors four years ago
when we brought Tate's to the market that this brand was going to be the next multi-hundred million dollar baked goods
franchise. With Riverside's extraordinary guidance and led by a superior management team, Tate's has exceeded
expectations."
Mondelēz International (whose brands include Oreo cookies; Cadbury Dairy Milk and Milka chocolate; and
Trident gum) will operate Tate's as a separate standalone business to nurture its entrepreneurial spirit and maintain the
authenticity of the brand while providing resources to accelerate growth.
Tate's Bake Shop
A nationally acclaimed brand of deeply delicious baked goods with a specialty bake shop in Southampton, N.Y., Tate's is committed to creating classic American baked goods with simple, premium
ingredients. Founder Kathleen King, who began selling small batches of her crisp, buttery,
chocolate chip cookies at her family's farmstead at just 11 years old, still perfects every recipe herself. Tate's is the
home of America's top-rated chocolate chip cookie, available at grocery stores, gourmet shops and natural food stores nationwide,
as well as online at www.tatesbakeshop.com.
The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing
businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more
than 520 transactions. The firm's international portfolio includes more than 80 companies. Visit www.riversidecompany.com for more information.
TM Capital Corp.
TM Capital is the client-first investment banking team advising leading companies across North America and around the world. We share a relentless commitment to engineering extraordinary outcomes
with an unmatched standard of client care. Over the last three decades, TM Capital has completed more than 300 transactions with
a combined value in excess of $20 billion. Our capabilities include: M&A; debt and equity
financings; recapitalizations; restructurings; and board advisory services. We are a founding member firm of Oaklins, the world's
most experienced mid-market M&A advisor with 60 offices globally. For more information please visit www.tmcapital.com.
Deal Team Contacts:
Paul Smolevitz
Managing Director
(212) 809-1416
psmolevitz@tmcapital.com
Craig Gibson
Managing Director
(617) 259-2204
cgibson@tmcapital.com
Media Contact:
Chelsea Reed
Marketing Manager
(404) 995-6231
creed@tmcapital.com
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SOURCE TM Capital Corp.