Chicago Chapter: February Food & Bev. Summit - Multiple Panels
Bryan Cave Leighton Paisner LLP
161 North Clark Street
Amenities Center - 12th Floor
Chicago, Illinois, 60601
This event is free for Chicago Private Equity Chapter, Los Angeles Private Equity Chapter, Los Angeles Real Estate Chapter, NYC Private Equity Chapter, National Chapter, and Corporate members.
This event starts on February 13th at 1:30 PM.
- Private Equity Panel: Breaking it Down – Food & Beverage Subsectors with Highest Potential for Investor Return
- Investment Banking Panel: Best Practices for Driving F&B Valuation Growth in a High Multiple Market
- Executive Panel: The Future of Health and Safety Trends in the F&B Industry
1:30 PM – 2:00 PM: Registration
2:00 PM – 3:00 PM: PE Panel
3:00 PM – 4:00 PM: IB Panel
4:00 PM – 5:00 PM: Executive Panel
5:00 PM – 7:00 PM: Cocktail Reception
PE Panel: Breaking it Down - Food & Beverage Subsectors with Highest Potential for Investor Return
Advancements in technology have created the perfect storm to eliminate barriers to entry for innovative disruptors in the Food and Beverage sector. While there is no doubt that consumers are demanding convenient, specialty and clean label products that deliver nutrition and functionality, we must ask ourselves why this is happening on a massive scale nowadays and how to capitalize on the different subsegments that are changing with the times. According to a recent McKinsey study, between $200 and $700 billion in revenues from traditional grocery retailers could shift to other formats and channels in the next few years. Retail is not dying, it is changing and the brands that are winning are the ones investing in their in-store experience and ecommerce initiatives. Underneath all the hype of technological disruption is actually a very simple, but powerful idea: companies are finally starting to understand their customers. With increasing competition for high-quality assets and the emergence of strategics who are now acquiring “smaller” companies for premium multiples, investors must decide what subsectors they can compete in and what companies they can add value to in order to realize favorable returns.
Brett Lilley, Executive Director at XMS Capital
Daniel Mafrice, Managing Partner at Stallion Finance
Ben Rudman, Partner at Charis Consumer Partners
Matthew Prout, Managing Director at Falcon Investments
IB Panel Summary: Best Practices for Driving F&B Valuation Growth in a High Multiple Market
Food & Beverage is as hot as almost any segment of today’s M&A market. With the high and rising valuations, how do buyers position themselves to win an auction? Is it all about price? What should owners look for besides price? How are investment bankers advising their clients while managing multiple high bidders? What special characteristics of Food & Beverage are driving the high valuations and will they continue? Are there segments of Food & Beverage with lower valuations? Are there common causes and consequences for transactions that fail to close? Our panel of investment bankers will break down this Food & Beverage sellers market, provide insights, and offer advice on how to succeed as a seller and as a buyer.
Ed Moss, Partner at Hilltop Private Capital
Jim Rolfe, Managing Director and Market Lead at CIBC Bank USA
Doug McDonald, Managing Director at Armory Securities
Robert Woolway, Managing Director at FocalPoint Partners
Executive Panel Summary: The Future of Health and Safety Trends in the F&B Industry
Organic and clean-eating trends have changed the way consumers shop for food, causing business owners to find new ways to adapt and stay relevant in this continuously evolving landscape. In a market where a lack of transparency can be a deal-breaker for many food-shoppers, implementing new practices and staying on top has proven to be harder than ever before. Tune in to this panel to see what these executives think the future holds for health and safety trends in this industry and how they’re adapting to accommodate them.
Steve Sahara, Director at Stout
Sunil Pande, Strategy and Decision Support - Global Food Sourcing at Walmart
Courtney Tellefsen, Founder & CEO at The Produce Box
Patrick Tannous, President & Co-founder at Tiesta Tea
Tony Bombacino, Co-founder and CMO at Real Food Blends
- Opus Connect Members: No Charge
- Non-Members (On or before February 8th): $395
- Non-Members (On or after February 9th): $495
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Brett is an Executive Director and runs the Food & Beverage practice at XMS Capital Partners. XMS Capital is a boutique investment bank headquartered in Chicago with a local presence across key strategic markets across the globe. Formerly, Brett played baseball professionally for the St. Louis Cardinals organization after being drafted out of Notre Dame.
Ed Moss has over 20 years of private equity experience. Prior to joining Hilltop in 2017 he was a Managing Director at Lincolnshire Management where he opened and headed the West Coast office of this $1.7 billion private equity firm. He began his career in private equity with Bank of America Capital where he rose to become a Senior Vice President. Subsequently he was a founding partner of the Los Angeles growth equity firm, Kline Hawkes & Company, that was backed by CalPERS.
Prior to entering private equity he was an executive with Times Mirror Corporation. He has served on numerous boards and notable investments include PADI Scuba, Staples, PetSmart, General Dynamics Electronic Systems, Hot Topic and The Alaska Club. In addition, Ed currently serves as an advisor to Del-Val Food Ingredients and Sadurni International Holdings.
Steve Sahara is a Director in the Valuation Advisory group responsible for assisting the Stout management team with the acceleration of their U.S. and international growth strategy by sourcing new relationships with law firms, accounting firms, family offices, private equity, hedge funds, financial institutions, and public/private companies from middle market to Fortune 500. Steve aligns business opportunities with Stout resources to respond to a clients’ valuation, financial opinion, investment banking, or litigation support needs. Steve has extensive experience working with client management and directors, transaction attorneys, financial sponsors, institutional investors, asset managers and administrators, regulators and accounting professionals across a broad client spectrum including industrial corporations, banks, funds, and insurance companies.
Steve focuses on valuation and dispute consulting for M&A (pre-acquisition diligence, purchase price allocation, post-acquisition disputes, fairness and solvency opinions), financial reporting, corporate and estate / gift tax valuation, business reorganizations, and expert testimony / litigation support for analyses of economic damages across the spectrum of commercial litigation and shareholder disputes.
Steve began his career in business valuation at Price Waterhouse (Chicago), was CFO/board member of a UK telecom messaging software company, and ran financial structuring/execution groups focused on debt/equity capital, funding and liability management solutions at Investment Banks: Merrill Lynch, Morgan Stanley, Lehman Brothers, ABN AMRO and Credit Agricole CIB in New York and London.
Courtney Tellefsen is the founder/CEO of The Produce Box.
She set out 11 years ago on a mission to support local farmers and help change our food system one table at a time. After starting The Produce Box in her garage working with 1 farmer and delivering boxes of fresh fruits & veggies to 25 of her neighbors, today her company has 11,000 members across just the state of NC. She uses an army of 250 stay-at-home moms and dads to support the more than 2 million pounds of produce sales each year.
She's also teaching groups in other states how to do the same. All of this while trying to survive life with two teenagers in the house....
Daniel has over 15 years of experience shaping and implementing turnaround and growth strategies for small businesses and middle market growth companies as both a financier and Chief Executive Officer.
Daniel most recently served as a Board Member, President &, Chief Executive Officer of Sweet Lady Jane bakery where he fashioned a well-known local Los Angeles retail brand with a cult following into omni-channel branded distribution through retail, grocery and online. Daniel molded a complex specialty bakery, awarded “#1 Patisserie In The World”, into a replicable, unique fast casual retail model with cash on cash returns of over 130%. Sweet Lady Jane has been featured on Good Morning America and Oprah’s Favorite Things three years in a row from 2014 through 2016.
Prior to Sweet Lady Jane, Daniel was a Vice President in the Investment Banking Leveraged Finance Group of Jefferies & Company. At Jefferies, Daniel raised over $7 billion for middle market growth companies through the structuring, marketing and placing of high yield securities, bank loans and mezzanine securities associated with financial sponsor LBOs, refinancings, dividend recapitalizations and roll-up acquisitions. Daniel has worked extensively with the executive management teams of middle market companies across several industries, including Consumer Retail, Government Defense, Automotive, General Industrial, Oil & Gas, Media, Technology, Business Services and Hotels. Daniel assisted them to derive and execute important corporate strategy decisions, including: capital structure planning, raising both debt and equity capital, regional and international expansions, acquisitions, spinoffs and corporate restructurings and reorganizations.
Daniel holds a BBA, with distinction, in Finance and Accounting from the University of Michigan Business School.
Daniel Mafrice joined the Executive Council of Century Park Capital Partners in 2017.
Doug McDonald has over 18 years of investment banking experience on over 60 merger and acquisition, financing and restructuring advisory transactions. Doug has been with Armory’s investment banking group since 2008, first as a Director then as a Senior Vice President. Prior to joining Armory, Doug was a Vice President in the Investment Banking division at Lehman Brothers where he executed over $9 billion of financing and merger and acquisition transactions with financial sponsors and business services companies. Before that, he worked at Kerlin Capital Group as a Senior Associate where he specialized in merger and acquisition transactions. Doug has a concentration of experience and relationships with clients in Real Estate, Food & Agri-Business industries. Doug earned an M.B.A from The Anderson School of Management at UCLA and a B.A. in Economics from Stanford University. In 2014, he was recognized as a Top 40 Under 40 Dealmaker by M&A Advisor. Doug currently serves on the Board of Directors of The California Rangeland Trust, a non-profit organization.
Jim Rolfe is a Managing Director and Market Team Lead in the Illinois Commercial Banking Group at CIBC Bank USA. Jim is responsible for leading the marketing efforts for a team of nine professional lenders who manage approximately 110 relationships consisting of over $700 million in loan commitments and in approximately $600 million in demand deposit accounts. Prior to joining The PrivateBank (now CIBC) in March, 2008, Jim was a SVP/Division Head in Commercial Banking at LaSalle Bank where he had been for nearly sixteen years. Jim’s responsibilities as a SVP/Division Head included the overseeing of an approximately $400 million loan portfolio consisting of approximately 95 client relationships and a staff of seven professionals.
Jim’s target market has always been working primarily with privately-held, entrepreneurial, 2nd/3rd/4th generation family owned businesses providing credit facilities and other ancillary products and services to these companies including Treasury Management, Risk Management, Foreign Exchange, Wealth Management, Corporate Trust and Investments and International services. Jim has also worked extensively with many public companies throughout his career. Jim has spent the last five years focusing on potential ESOP opportunities for both his clients and prospective clients and is a member of both the National Center for Employee Ownership (“NCEO”) and The ESOP Association.
Jim is a member of the Association for Corporate Growth (“ACG”) since 2005 and has participated in ACG’s Intergrowth Conference in 2006, 2007, 2009, 2010 and 2011 and currently serves on the Private Equity Committee for the Chicago chapter. Jim is a co-founder and is President of The Michael Rolfe Pancreatic Cancer Research Foundation which has raised in excess of $9 million since its inception in 2000 and whose goal is to support research dedicated to developing an early detection test/methodology for pancreatic cancer. Since December, 2009, Jim has been on the Board of Directors of The Chicagoland District Golf Association. Jim has been a Board Member since 2006 of the Anti-Defamation League. Jim served on the Board of Directors of The Jewish Council for Youth Services from 1991-2001 and was named a Director for Life in October, 2003 for this organization. Jim organized the formation of the Signature Society in 2000, a junior board of the State of Israel Bonds Board. Jim was selected by the former Chairman of LaSalle Bank, Norman Bobins, to represent LaSalle and the Chicago financial community on the Chicago-Israeli Business Exchange Trip in November, 2005. Jim served on the Board of Directors of Northmoor Country Club from December, 2002 – December, 2008. Jim has served for the past two years on The Middle Market Open Committee benefiting The National Kidney Foundation of Illinois. In 2018, Jim completed a seven month executive leadership program called Leadership’s Calling.
Jim received his Bachelor of Arts in Economics from the University of Illinois at Urbana-Champaign and his Masters of Management from the J.L. Kellogg Graduate School of Management. Jim has competed in ten triathlons and completed the 2003 Chicago Marathon and the 2018 Austin Marathon.
Jim resides in Highland Park with his wife, Alyne and his children, Jessica (15) and Jacob (12).
Matthew joined Falcon in September 2011. He was previously a Vice President for Culbro (family office) in a private equity role and with Banc of America Securities’ Leveraged Finance team. Mr. Prout has served on the Board of Directors of several companies, including current portfolio companies Big Time Products, Chairmans Foods, Lakeview Farms and Mitra QSR. Prior affiliations include Lehman Brothers and Roynat Capital. Mr. Prout holds a B.S. degree from Kenan-Flagler Business School at UNC-Chapel Hill
There’s no second gear for Patrick when it comes to his passion, energy and the standards he holds himself and his business to. Every day, Patrick puts 150% into everything he does and it shows through by him being listed on Inc.’s 30 Under 30 Rising Stars list of 2018. His high standards and care for people are not only reflected in the success of Tiesta Tea but in the culture of the company and the comradery of his entire team. He followed his passion for entrepreneurship and his confidence in Tiesta Tea and dropped out of college to dedicate all his time and effort to Tiesta. In its early stages, Tiesta struggled to gain traction. He and his co-founder, Dan, packed their bags and traveled door-to-door visiting over 500 doors in New York, Philly, Seattle and Vancouver in a span of 20 days, trying to sell Tiesta Tea. That trip earned them enough customers to keep Tiesta alive and taught Patrick and Dan the best ways to sell their teas, which has helped them place their teas into over 8000 grocery stores nationwide amassing over 20mm in sales since the company started.
Robert Woolway has been a successful investment banker for more than thirty years and has executed a wide variety of mergers, acquisitions, divestitures, and financing transactions totaling more than $15 billion. Based on his vast experience, Mr. Woolway offers middle-market clients a unique combination of larger investment bank sophistication and boutique-style service and responsiveness.
Prior to joining FocalPoint, Mr. Woolway was a Managing Director of Trinity Capital where he focused on the food, beverage, and restaurant industries. He has worked on numerous food transactions for clients such as Columbine Vineyards, Coolhaus Ice Cream, Krispy Kreme, Ready Pac, and L&L Foods. Previously, Mr. Woolway was a senior investment banker at J.P. Morgan, Merrill Lynch & Co., and Salomon Brothers.
Mr. Woolway graduated from Harvard University with honors in Economics and received an MBA from Stanford University’s Graduate School of Business where he was an Arjay Miller Scholar. Mr. Woolway has served on several corporate boards including SMT, Inc. and has been involved as a board or committee member of a number of non-profit organizations including The Alliance for Children’s Rights.
Strategy and General Management leader with a track record of driving accelerated growth and profitability results for Fortune 500 companies globally. Possess strong business acumen and solid understanding of Food, CPG and Retail industries. Food & Grocery expert with deep Value Chain expertise (production, plant operations, sourcing, supply chain, sales & marketing) and Omni-Channel (Retail, Foodservice, e Commerce) business development background. Experienced General Manager with solid Corporate Strategy, Global M&A, Supply Chain Management and Commercial Operations skills to drive superior business results. Experience includes strategic advisory to Executives and Board as well as execution within Business Units to drive P&L and Balance Sheet improvements for Multi-Billion dollar businesses. Top tier MBA.
Tony Bombacino is Co-Founder of Real Food Blends, the leading provider of 100% real food meals for people with feeding tubes. Prior to co-creating Real Food Blends, Bombacino spent 15+ years in various digital and direct marketing leadership roles at companies of all sizes including Andersen, United Airlines, Resolution Media (acquired by Omnicom Media Group), where he was the 6th employee and part of the original leadership team, Restaurant.com, where he helped grow the company’s revenue 25X during his tenure and Signal (formerly BrightTag).
Aside from his day jobs, Bombacino has also spent much of his career helping, mentoring and working with aspiring marketers and entrepreneurs via associations and charities ranging from the Chicago Interactive Marketing Association (CIMA), Chicago Association of Direct Marketing (CADM), The CMO Club, Tech Stars and more. Beyond marketing and entrepreneurship, Tony is passionate about helping associations and charities that work to improve the lives of children with special needs, especially Jacob’s Ladder and A Rosie Place. Tony holds an MS in Direct & Interactive Marketing from Mercy College and a BS in Marketing from Saint Xavier University.
When he isn’t helping his life and business partner Julie create the next phase of Real Food Blends, he loves golfing, fishing, traveling, playing around with his kids and pretending like he is the next great chef.