October 6, 2014
New York, NY -- Young America Capital (YAC) announced the sale of assets of the Dairy Association Company, Inc. (DAC) to Vermont's Original LLC, a new company formed by the two investment groups, Timepiece Capital Incorporated and Gemini Investors. YAC served as the exclusive financial advisor to DAC in a transaction that resulted in an attractive valuation for the company's stakeholders.
Dairy Association Company is world renowned for its product Bag Balm®. Originally created to soften cow udders, Bag Balm's soothing qualities have gone from the barn for cows to being used by bikers, gardeners, hikers, quilters, and many more. It has also been used as far and wide as the North Pole and in treating the paws of dogs searching the World Trade Center rubble after 9/11. Dairy Association engaged YAC to identify a buyer who would accelerate the company's growth while honoring its name, culture and location in Vermont.
With its long-standing experience in advising middle market businesses, Young America Capital garnered the interest of several interested parties in a comprehensive search. "Bag Balm's strong and growing brand recognition among consumers brought a sizable level of interest from consumer goods-focused private equity firms," said Stanley Tobin, Senior Director of Investment Banking, who spearheaded the transaction.
Vermont's Original LLC., plans to freshen up the Bag Balm brand and increase sales. "We knew that being acquired by the right buyer was critical to Bag Balm's future success. Young America led our efforts and identified the perfect company," said Barbara Norris Allen, the President of Dairy Association Company and the granddaughter of company founder, John L. Norris, Sr. "We're extremely pleased that our unique strategic approach resulted in a transaction that aligned the right players at the right time," said Peter Formanek, Managing Partner at Young America Capital. "This deal offers an opportunity for the buyer to continue a great Vermont legacy while expanding the possibilities and availability of Bag Balm in a vast marketplace."
About Young America Capital, LLC
Founded in 2000, Young America Capital is a New York-based FINRA/SEC/MSRB licensed independent investment banking and advisory firm which provides capital raising, M&A advisory and fund marketing services for companies and alternative investment fund managers. The company is comprised of a diverse group of investment banking professionals with particularly deep sector experience in Consumer & Retail, Maritime & Infrastructure, Cleantech, Telecomm, Media and Technology; Healthcare & Life Sciences; Real Estate, and Latin America. www.yacapital.com