Downer & Company Advises Stop & Shop/Giant-Landover on Sale of Dairy Operations
BOSTON, April 13, 2006 - Downer & Company, LLC, an international investment banking firm specializing in middle-market cross-border acquisitions and divestitures, is pleased to announce the sale of the Stop & Shop/Giant-Landover dairy processing plant in Landover, Maryland, to the Maryland & Virginia Milk Producers Cooperative. The transaction was finalized on March 25, 2006 and the deal value was not disclosed.
Stop & Shop/Giant-Landover (Giant) is part of the Royal Ahold group of leading, local supermarket brands throughout the U.S. and Europe. Downer & Company acted as the sole financial advisor to Giant for the sale of the dairy operations.
The Maryland & Virginia Milk Producers Co-op is owned and operated by 1,500 dairy farm families in the Mid-Atlantic and Southeastern U.S. "Maryland & Virginia has a vested interest in making sure consumers have a fresh, local milk supply and the Giant Landover operation is a perfect complement to our existing fluid processing business and our local members supplying the milk,” said Jay Bryant, the cooperative's general manager, in a company statement. The plant, now operated as Marva Maid of Landover, will continue to produce Giant’s private label milk brand as part of a long-term supply agreement for the 191 Giant supermarkets within Virginia, Maryland, Delaware and the District of Columbia.
“When Giant decided to sell its dairy operations, it was crucial to find an experienced dairy operator that was well-positioned to serve the Giant stores,” said Paul Colone, Vice President with Downer & Company. "The co-op is a market leader throughout the geographic region served by Giant and recognizes the strategic value of the supply agreement. We congratulate both Maryland & Virginia and Stop & Shop/Giant on the outcome of the transaction and believe Giant has found an excellent long-term partner to help them support future growth,” he concluded.
Downer & Company's engagement team consisted of Mr. Colone and Thomas Munnell, Managing Director from the firm’s Boston office.
About Downer & Company
For thirty years, Downer & Company, LLC, has gained distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company received an award for transacting the "International Cross-Border Deal of 2004" and was recognized as the top Investment Banking Firm of 2003 by The Mergers & Acquisitions Advisor. Downer & Company's corporate headquarters are located at 60 State Street, Boston, MA 02109. For further information, visit www.downer.com. www.downer.com.
Paul Colone, Vice President
Patti Allan, Marketing Director