SALT CREEK CAPITAL takes majority stake in THE FLAVOR OF CALIFORNIA

On February 20, 2019, private equity firm Salt Creek Capital, in partnership with executive Julie Pantiskas, formed The Flavor of California, LLC to acquire the Bob’s Big Boy salad dressing licensing business from KT’s Kitchens, Inc. The transaction was structured as a corporate carve-out of the licensed food product operations from the vendor. Calabasas Capital acted as financial advisor to KT’s Kitchens, Inc. during the sale process. Through the transaction, the newly established platform acquired exclusive perpetual rights to manufacture, market, and distribute the full line of Bob's Big Boy refrigerated salad dressings, sauces, and condiments across the Western United States. The carve-out allowed former license owner KT's Kitchens, Inc. to secure liquidity and refocus its operational resources on its core frozen pizza manufacturing operations. Following the closing of the acquisition, Julie Pantiskas assumed the role of chief executive officer to head executive management and strategic direction at the standalone operating business. Salt Creek Capital financed the acquisition by providing equity capital to establish the independent company alongside the incoming chief executive officer. The private equity sponsor structured the transaction to back an experienced operating leader in building an independent platform operating under the perpetual brand licensing agreement with Big Boy Restaurant Group, LLC.