Foodbrands America, Inc.
Foodbrands America, Inc., formerly Doskocil Companies, produced, marketed and distributed specialty frozen and refrigerated food products. The company had been through two bankruptcies, was undercapitalized, participated in disparate businesses and was generating a meager 4.5% EBITDA margin. Together with a reconfigured management team, the investors de-leveraged the balance sheet, sold off under-performing assets, implemented a sophisticated cash management system and acquired three highly profitable new divisions. When Foodbrands was sold to IBP four and one-half years later, revenues had grown significantly to over $900 million, while the EBITDA margin more than doubled to 9.9%.