Circana to Acquire NCSolutions and Nielsen’s Marketing Mix Modeling Business
CHICAGO and NEW YORK — August 26, 2024 — Circana™, a leading advisor on the complexity of consumer behavior, today announced it has entered into definitive agreements to acquire NCSolutions (NCS), the joint venture between Nielsen and Catalina that improves advertising effectiveness, and Nielsen’s Marketing Mix Modeling (MMM) business.
With these two acquisitions, Circana will expand its media measurement capabilities while also increasing its marketing mix modeling and unified measurement solutions and footprint. As a result, clients of all three organizations will gain broader access to audience targeting, media measurement, in-flight optimization, and clean room solutions. Additionally, this combination will increase efficiency and offer better products and services to fuel clients’ growth via more targeted and impactful advertising.
“We are excited to welcome NCSolutions and Nielsen’s Marketing Mix Modeling business to Circana to expand and enhance our media capabilities for our clients,” said Kirk Perry, president and chief executive officer of Circana. “Both businesses have incredible expertise, solutions, and clients that, when combined with Circana’s data and technology assets, will fuel clients’ growth.”
“NCSolutions and Nielsen’s Marketing Mix Modeling are strong businesses that deliver spectacular value for clients,” said Karthik Rao, chief executive officer of Nielsen. “As Nielsen focuses on expanding its leadership position in audience measurement and content data, we’re thrilled that the tremendous leadership and passionate teams at NCS and MMM can continue to accelerate their growth through synergies within Circana.”
Both businesses eventually will be integrated into Circana’s Media team. Circana’s Media team works with advertisers and their agencies to plan, target, activate, measure, and optimize media spend. Its media solutions portfolio is built on a robust enterprise technology platform, actionable CPG and general merchandise shopper, sales, and causal data sets, and advanced analytics. The transactions are expected to close during the fourth quarter of 2024, subject to regulatory approvals and the completion of any required information and consultation obligations, including any works councils’ processes.
Vestar on the hunt for add-ons and expansion after Roland Foods recapitalization
Vestar Capital Partners' quest to make Roland Foods ripe for an exit included a recapitalization of the New York-based specialty importer earlier this summer that will give it flexibility to execute its growth plans, including acquisitions in core or adjacent product categories, Ken O'Keefe, Vestar managing director and chief operating officer, told PE Hub.
Roland is a global brand and specialty foods importer and supplier. The majority of its customers are foodservice distributors, with some specialty retailers and restaurants. The company sources over 2,500 products that are imported from 40 countries and 350 suppliers, including roasted peppers, artichokes, balsamic vinegars, olives, quinoa and tahini.
Roland's capital structure was expiring and its flexibility to execute on its growth objectives was limited, said O'Keefe, who is a member of Roland's board. A recapitalization aligned with Roland's growth plans.
O'Keefe said Roland is looking to expand its capabilities through acquisitions in core or adjacent product categories that exhibit high growth characteristics, defensible margins, brand appeal and are asset-light, and can also benefit from Roland's platform and infrastructure. Roland is also looking to expand to high-growth menu offerings that it does not presently offer. This includes Southeast Asian, Latin American, Middle Eastern and African products. Geographically, Roland could also look to expand to Canada.
Eyeing growth
The firm also sees an opportunity to make even more add-ons. "We have a robust pipeline of potential acquisition targets which supports our overall growth strategy and value proposition for our customers," O'Keefe said. "I would be disappointed if we did not make multiple acquisitions over the coming years."
Roland expanded its product offering with two add-on acquisitions during the last five years. The company moved into the sweet food category with the acquisition of Albert Uster Imports (AUi) in 2019. AUi is a Gaithersburg, Maryland-headquartered importer and distributor of pastry, bakery and confectionary foods. In 2023, Roland added ifiGOURMET, a Gurnee, Illinois-based importer of gourmet dessert products and ingredients. Vestar considers it a complementary business to AUi.
Vestar acquired Roland in 2013. In 2017, Harvest Partners made a $125 million recapitalization investment in Roland and became a minority stakeholder. Harvest was refinanced out of Roland along with other debt providers with the closing of the recapitalization on July 31.
"We were fortunate to have a strong group of supportive financing sources who have done business with Roland for an extended period," O'Keefe added. "As a result, we were able to secure a highly attractive financing package which supports Roland's growth objectives - including a deferred draw term loan to facilitate acquisitions. Vestar and co-investors also contributed a significant amount of equity."
Vestar declined to share who the co-investors were in Roland.
Path to an exit
Vestar contemplated an exit in 2019, according to O'Keefe. However, the pandemic and its impact on Roland caused the firm to prioritize the business' performance. "During this time, we, along with Roland's management team, identified significant growth opportunities to increase value which we determined we could not realize without a recapitalization," he added.
Currently, there are no plans for an exit. But the recapitalization and Vestar's plans for future add-ons could better position the firm for an exit down the road.
"We believe Roland's business model, management team plus historical and future growth prospects will be attractive for many types of investors in the future including other private equity sponsors and strategic buyers," O'Keefe said.
Based in New York, Vestar is a middle market private equity firm with a focus on the sectors of consumer, business and technology services, and healthcare. Since it was founded in 1988, Vestar funds have invested over $12 billion in 94 companies with a total value of approximately $61 billion as of August.
Vestar Capital Completes Recapitalization of Roland Foods, Supporting Company's Next Phase of Growth
NEW YORK, Aug. 8, 2024 /PRNewswire/ – Vestar Capital Partners, a leading U.S. middle-market private equity firm, today announced the closing of the recapitalization of Roland Foods, LLC, a leading branded purveyor of fine global ingredients serving the foodservice industry for over 90 years. As part of the transaction, Vestar and co-investors have made a significant growth capital investment alongside the refinancing of Roland Foods' credit facilities. The recapitalization positions the company for the continued execution of its organic growth strategy and provides significant dry powder for future acquisitions. Terms of the transaction were not disclosed.
"Roland has been a very successful investment for Vestar thus far, and we are thrilled to continue our partnership with CEO Keith Dougherty and the Roland management team to support the company's continued growth and expansion," said Ken O'Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods. "Over the course of our ownership, Roland has scaled significantly and materially expanded its product offerings, both organically and through the acquisitions of AUI Fine Foods and ifiGOURMET. We see a tremendous opportunity to continue to scale the platform via M&A and additional investments across the organization."
"We have been very strategic about our growth, and this new capital will help support future acquisitions and other initiatives that will allow us to take advantage of strong demand for specialty foods and ingredients," said Mr. Dougherty. "We're excited to keep moving forward with a partner that truly understands our business, and we thank the Vestar team for their ongoing support."
About Roland Foods
Since 1934, Roland Foods has been a purveyor of premium, high-quality global ingredients. With a curated portfolio of over 2,400 products carefully sourced worldwide, the brand is a trusted resource relied upon by chefs and home cooks. An established brand in the Fine Foods category, Roland Foods aims to inspire culinary curiosity and creativity in the kitchen. To learn more about Roland Foods, please visit https://rolandfoods.com/
Accanto Health Appoints Dr. Lynn Mason to its Board of Directors
July 19, 2024 – St. Paul., MN – Accanto Health, a national leader in eating disorder specialty care and behavioral health services encompassing The Emily Program and Gather Behavioral Health, today announced the appointment of veteran healthcare executive Dr. Lynn Mason to their Board of Directors.
“With decades of leadership across multi-site and multi-state healthcare services organizations, Lynn brings deep experience with market growth, new service development, and increasing access to care for those in need,” said CEO Dr. Tom Britton. “This broad expertise will be key as we continue to drive growth and expand access to eating disorders care that saves and transforms lives. With nearly 30 million people experiencing an eating disorder in their lifetime, accessible, convenient, and comprehensive care is critical to recovery.”
Currently the CEO of IVI RMA America, a leading integrated infertility network, Mason has also led Broadstep Behavioral Health as President & CEO, and held senior roles at DaVita HealthCare Partners and DaVitaRx, ChenMed Primary Care, Care Services, and United Allergy Services. Mason holds a doctorate in Healthcare Administration from Virginia University, an MBA from Stanford University, and a BSBA in Finance & Accounting from Washington University in St. Louis.
“Lynn’s appointment underscores our ongoing focus on aligning the expertise and qualifications of our directors with Accanto’s strategic growth opportunities in eating disorders and behavioral health treatment,” said Chris Durbin, Accanto board chair. “With her background in expansion of access to care, market growth, and new service development, coupled with her devotion to continuous improvement of healthcare and the well-being of consumers, Lynn brings a fresh perspective and valuable experience to the Accanto Board.”
“We live in a time where eating disorder and other behavioral health challenges appear to be at an all-time high. Fortunately, we also live in a time when a light has been shown on these challenges, and there are dedicated people working to eliminate the stigma and create solutions,” said Mason. “I am proud to lend service to an organization like Accanto with likeminded leaders, teammates and board members who desire a better world for those who need treatment and support.”
About Accanto Health
Accanto Health, based in St. Paul, Minnesota, is a national healthcare company specializing in eating disorders and other mental health conditions. The company includes leading eating disorder treatment provider, The Emily Program, and new general mental health provider, Gather Behavioral Health. With 21 locations across 8 states and beyond through virtual services, Accanto Health programs provide exceptional, individualized care for children, adolescents, and adults across the full continuum of behavioral health care in a gender-diverse and inclusive environment. If you or someone you know is struggling, call 888-364-5977 or visit accanto.com.