The combined business will have almost 18 million laying hens
Roseville, CA (August 19, 2022) – DCA Partners (“DCA”) and Flaherty Capital Markets (“FCM”) are pleased to announce that Konos, Inc. (d.b.a Vande Bunte Eggs) (“Konos”) has sold substantially all of its assets to Daybreak Foods, Inc. (“Daybreak”). DCA and FCM are proud to have served as financial advisors to Konos on this transaction.
Konos was founded as Vande Bunte Eggs in 1946 in Martin, Michigan. The business added two additional complexes in Grant Park, Illinois and Otsego, Michigan, as well as cage-free, free-range, and organic shell egg capabilities under the second-generation leadership of Tim and Paul Vande Bunte. The Vande Buntes will retire as part of the transaction. Rob Knecht, VP of Sales, and Adam Dickerson, VP of Production, both third-generation family members, will continue to operate the business.
Daybreak was founded in 1967 in Lake Mills, Wisconsin. The Rehm family has built the business into the fifth-largest egg producer in the country, with farms in Iowa, Ohio, Wisconsin, and Minnesota. The addition of Konos locks in additional cage-free supply and provides low-cost cage-free conversion opportunities to support continued growth.
DCA and FCM have partnered on numerous food, beverage, and agribusiness transactions and formally merged this year. Ron Flaherty stated, “I am excited to become part of the DCA platform and am pleased to have Konos represent the first transaction we closed as a combined firm.”
About DCA Partners and Flaherty Capital Markets
DCA is a diversified financial services firm encompassing Mergers & Acquisitions, Private Equity, and Family Office. The DCA M&A group helps family-owned and other closely held businesses grow through acquisitions (buy-side) or maximize value in a sale (sell-side). FCM is a boutique investment banking firm that has specialized in food, beverage, and agribusiness for over 30 years. In 2022, FCM combined with DCA and Ron Flaherty now leads the DCA M&A food, beverage, and agribusiness practice.
About Konos, Inc.
Konos is a family-owned and operated conventional, cage-free, free-range, and organic shell egg production and processing company. For more information, visit www.vbeggs.com.
About Daybreak Foods, Inc.
Daybreak is a family owned and operated shell-and-liquid-egg production and processing company and one of the largest suppliers to the food processing and restaurant industries. For more information, visit www.daybreakfoods.com.
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