Amazing Food Holdings, LLC (“AFH”) develops and markets all-natural, upscale frozen meals using proprietary and patent-pending processes and packaging. The company’s product line complements demographic trends and consumer preferences, offering restaurant quality, all-natural meals that are quick and easy to prepare. Amazing Foods was founded in 2005 by Eric and Dari Carre’ as a research and development firm focused on frozen food product formulation and development. Manufacturing operations commenced in Schaumburg, Illinois in October, 2006. To date, AFH has produced over 2.5 million meals for its airline and foodservice customers and, through a partnership with Marlees, is introducing three seafood Papillote meals in Albertson’s stores in September, 2007. Through a partnership with Maxim Partners, LLC and its founder and GMP advisory board member, Gregg W. Wilson, GMP made its initial investment in AFH in May, 2007.
AFH produces and markets three complimentary product lines. Each line utilizes the same R&D, production, ingredients and quality assurance expertise that AFH has developed through years of frozen food industry experience. Firstly, AFH’s Chef Papillote™ brand is a unique and proprietary meal/package concept that provides consumers an at-home, quick and healthy alternative to restaurant dining. Chef Papillote™ offers highly flavorful meals made with all-natural, high quality, premium ingredients (beef, seafood, chicken, etc.), combined with fresh vegetables, seasonings and herbs in an eco-friendly, paper bag cooking container. Secondly, the Company offers a non-branded version of the Chef Papillote™ meal, as well as tray packages of 30 oz. and 40 oz. multi-serve meals, which are distributed through various segments of the foodservice channel. These meals are made with the same culinary integrity and quality ingredients used in the Chef Papillote™ processes. Finally, upon the company’s founding in 2005, AFH’s founders leveraged their decades of experience formulating and preparing international and first class meals for the airline industry by developing a line of meals for United Airlines. This line utilizes traditional packaging and cooking techniques to conform with heating equipment on airplanes. The meals are formulated by AFH’s staff of frozen food technologists and assembled in AFH facilities. Today, the airline meal industry is dominated by First Class meals with an upscale flavor profile and higher quality meals for international flights, representing a $2 billion market supplied by a fragmented group of small to medium-sized value-added food suppliers.
The Company’s management team features a long-standing culinary partnership between seasoned industry colleagues specializing in combining the art of cuisine creation with the science of food technology and innovative manufacturing techniques. AFH’ unique expertise in frozen food technology and recipe development, combined with its break-through Chef Papillote™ meal concept, provides a distinctive opportunity to build the leading culinary-driven manufacturer in the rapidly expanding value-added frozen food market.
Vetbrands International is a Brazilian manufacturer and distributor of animal pharmaceuticals, for both the commercial and companion animal markets. GMP assisted management in structuring the acquisition of this marketing and distribution business from Cargill, Inc. and its simultaneous merger with a locally based production facility in Brazil to create Vetbrands in May 2002. GMP undertook this unique investment opportunity as Vetbrands possessed the following key attributes: an extended and consistent record of high profitability, sustainable barriers to entry and a strong existing management team. Equally critical to its decision to sponsor and invest in Vetbrands was the ability to identify a proven local financial partner in Brazil, which was accomplished through a partnership with Axxon Groupe, a Rio de Janeiro based private equity firm the largest investor in which is Banque Natexis of Paris, France. GMP structured the transaction, helped establish optimal management and board oversight, and with its partners, invested its own funds to acquire the company. Ongoing board oversight and active management of the investment culminated in July of 2007 when the board of directors agreed to sell Vetbrands to CEVA, a French based global animal health concern. The transaction, which generated returns to GMP and its investors well in excess of its investment objectives at closing, will continue to monetize over the next several years.
GMP led the first outside equity investment in OPUS Interactive, Inc. in 2002 and then led the merger of OPUS into Equitec, LLC in 2003. The combination has created a unique value proposition for consumer-focused businesses in the travel and retail industries and accelerated growth for Equitec.
About OPUS Interactive OPUS Interactive was an early stage marketing database company which helped Direct to Consumer Marketers (e.g., P&G, Citibank, Land's End, etc.) acquire, retain and develop customers more profitably. GMP partnered with this proven management team to assist in obtaining initial funding in a transaction which drove management to rapidly build a profitable standalone business, while at the same time working toward strategic combinations with one or more clearly identified marketing services merger prospects to create a larger, full-service provider. GMP had prior experience with Tim Prunk, the founder of OPUS, who had most recently headed MatchLogic Inc. and had earlier started and led the InfoBase business of Acxiom Corporation. GMP's interest in OPUS centered on this individual and his proven team and the opportunity to "recreate" a highly profitable, rapidly growing business in the Customer Relationship Management (CRM) industry. Additionally, the ability to combine OPUS with other, complementary companies in the marketing services area was a unique opportunity to leverage GMP's particular expertise.
GMP arranged the initial outside equity financing for OPUS, utilizing a two-stage, convertible security, sourcing funds from a select group of complementary financial partners. These strategic investors, in addition to capital, also provided specifically related expertise and the ability to help grow the company. Beyond its own direct investment, GMP received an additional equity interest in OPUS in return for its services as financial/strategic advisor and maintained an active role on the company's board of directors. It was expected that OPUS will become part of a larger, broad-based marketing services platform, which would then be sold or merged with a larger competitor within the industry no later than three to five years from its initial funding. The merger with Equitec has been the first step in this process.
About Equitec
Equitec is a market leader in providing customer-based business intelligence solutions designed specifically for the travel and retail industries and their suppliers. Equitec specialists design innovative methods and tools to integrate with end-user knowledge that uncover opportunities to increase business efficiencies and enhance competitive advantage. Equitec, headquartered in Westlake, Ohio, was founded in 1995. GMP continues to be an investor in the combined entity.
GMP has had a longstanding relationship with The Allant Group, Inc. Allant, along with GMP, jointly investigated and evaluated a number of investment opportunities in the marketing services industry during recent years, and Allant invested alongside GMP in its 2002 investment in OPUS Interactive (see above). Robert Early of GMP joined the Allant board of directors in January 2003 and worked with Allant's board and management team during 2003 to architect a new strategic growth plan. In late 2003, Mr. Early took a position as an executive officer of Allant to help lead the implementation of this plan. To date, the company has not needed outside capital.
Founded in 1984 as Executive Marketing Services, The Allant Group has evolved from a small data enhancement company to a “marketing optimization” solution provider. Allant is now a growing, multimillion-dollar organization with a strong client list, management team and employee base. Clients include nationally and internationally renowned companies. Allant helps its clients gain greater productivity from marketing budgets, programs and current infrastructure investments through its various services platforms, including Teleservices, Marketing Services and Retail Services. By embedding proprietary analytical capabilities in these platforms and by leveraging unique and highly predictive data assets, Allant architects business performance improvements for its clients with measurable ROI improvement and a sustainable competitive advantage.
