Wolfe Announces the Sale of Valley International Cold Storage
New York, NY — Wolfe Research Securities (“Wolfe”), the broker-dealer affiliate of Wolfe Research, LLC, is pleased to announce the sale of Valley International Cold Storage, Inc. (“VICS”) to an affiliate of The Anderson Group LLC (“Anderson”). Wolfe served as exclusive financial advisor to VICS for this transaction.
VICS is a third-party logistics provider headquartered in Harlingen, TX which is approximately 12 miles north of the border with Mexico and near the center of the agricultural delta of the Rio Grande Valley. VICS operates an 185,000 sq. ft. cold storage warehouse and vegetable repacking facility in Harlingen and has approximately 140 full and part-time employees. Since its formation in 1994, VICS has been controlled by the Gorges family.
The Gorges family decided to sell VICS in order to further pursue and emphasize its other business interests and retained Wolfe as its exclusive financial advisor to assist with the divestiture. After Wolfe orchestrated a comprehensive auction process, that included strategic and financial buyers from within and outside of the refrigerated warehouse industry, VICS determined that a proposal from Anderson, a Michigan based private equity firm, offered the most advantageous terms.
VICS attracted strong interest from a number of qualified bidders. The Company ultimately chose to move ahead with Anderson because they had the best understanding of the future potential of the business. Harlingen is the Gorges family’s hometown and they feel strongly about the well-being of this South Texas community. Through its investment in VICS, Anderson will continue to provide important jobs and growth capital for the region.
About Wolfe Research, LLC and Wolfe Research Securities
Wolfe Research, LLC was founded in 2008 as a research boutique by former Bear Stearns top-ranked Transportation Analyst, Ed Wolfe. The firm has grown to include six prominent research teams, establishing a reputation for both sector and macro research, currently focused in the transportation, retail and utilities sectors. Each of its six teams were recognized by clients in Institutional Investor magazine’s 2012 All-America Research Poll, in which the firm’s weighted rank was #12 overall for U.S. equity research. In February 2013, Wolfe was named by Business Insider as one of the top 16 Wall Street firms where employees want to work.
Wolfe Research Securities (“Wolfe”), the broker dealer affiliate of Wolfe, was launched in May 2010 and acts as the investment banking and distribution arm of Wolfe Research. Wolfe’s experienced and focused bankers serve our clients by providing merger and acquisition advice and execution, corporate financial advisory, and debt and equity capital raising services. Our clients include leading domestic corporations, middle-market and emerging growth companies, private equity sponsors and financial investors, and family-owned and closely held businesses. Wolfe’s investment banking team is comprised of seasoned professionals who provide tailored advisory and capital markets services based on experience, creativity and an unwavering commitment to the client. In addition to the VICS transaction which recently closed, Wolfe Research Securities is currently working on three sell side engagements within the freight transportation and logistics sector and has recently participated as a Co-Manager in IPO’s for Fairway Group Holdings Corp. and Sprouts Farmers Market, Inc.
Wolfe Research, LLC and its affiliates currently employ about 55 full time professionals and continue to actively search for top talent. “We don’t do everything at Wolfe, but in what we do, we strive to be the best.”
President and Head of Institutional Services
Wolfe Research, LLC
Head of Investment Banking
Wolfe Research Securities
To learn more about Wolfe Research or Wolfe Research Securities, please visit www.WolfeResearch.com