Highlighted transactions



Michael Angelo's Gourmet Foods Inc.

Piper Sandler served as exclusive financial advisor to Michael Angelo's Gourmet Foods Inc. on its sale to Sovos Brands.

Client Description

Michael Angelo's Gourmet Foods, based in Austin, Texas, is a family-owned and operated business, producing authentic Italian prepared meals. Chairman and CEO Michael Angelo and his mother Sara have been cooking Italian food the right way for years, bringing traditional Italian cooking methods and flavors to a full line of single-serve and multi-serve meals found in the freezer section. All products are made from scratch in small batches using the highest-quality, fresh ingredients and are "clean label" with no fillers or preservatives. Michael Angelo's meals are available at grocery stores, natural food stores and warehouse club stores nationwide.

Counterparty Description

Sovos Brands, backed by Advent International, is a new kind of food and beverage company with a mission to acquire and build one-of-a-kind brands to establish a scale player in the consumer packaged goods (CPG) industry.

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 320 private equity transactions in 40 countries and as of September 30, 2016, had $42 billion in assets under management.