J.W. Childs Associates sells portfolio company, International DiverseFoods to H.J. Heinz

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J.W. Childs Associates has sold its portfolio company, International DiverseFoods to H.J. Heinz

Kerlin acted as the financial advisor to J.W. Childs Associates in the sale of its portfolio company, IDF Holdings, Inc. to H.J Heinz. IDF is a leading custom developer and producer of specialty flavorings and other food products for quick service restaurants, food processing companies and food service distributors. IDF had experienced operating problems prior to 1999 and was in the process of engineering a financial turnaround. The $135 million valuation that was developed with Heinz was based on the identified synergies and was 8.0 times adjusted pro forma EBITDA.