California Dairies, Inc.

Visalia, CA

About California Dairies, Inc.

Company overview

California Dairies, Inc. is a dairy cooperative established in 1999 through the merger of three California-based dairy cooperatives - California Milk Producers, Danish Creamery Association, and San Joaquin Valley Dairymen, with its headquarters located in Visalia, California. The cooperative is owned by nearly 300 independent family-owned dairy farms across the state, spanning from San Diego County to Sacramento County. Business/Product Breakdown California Dairies, Inc. operates as a milk marketing and processing cooperative, sourcing raw milk from its member farms and transforming it into dairy products at facilities located within 100 miles of the producers. The company manufactures butter, milk powders, nutritional powders, fluid milk, aseptic milk products, and cheese, supplying these items for private label retail, foodservice accounts, industrial applications, and export markets. Through its subsidiary Challenge Dairy Products, it produces salted and unsalted butter under the Challenge and Danish Creamery brands, primarily for foodservice and retail channels. DairyAmerica, another subsidiary, handles milk powder production, including nonfat dry milk, whole milk powder, skim milk powder, buttermilk powder, milk protein concentrate, and milk protein isolate, serving domestic and international customers in food and nutritional sectors across more than 60 countries. Los Banos Foods focuses on cheddar cheese production for foodservice and industrial use. The cooperative maintains processing plants throughout California to ensure milk is handled within 24 hours of arrival, supporting distribution to grocery stores, club stores, mass merchandisers, the U.S. military, and global trade partners.

Keywords

Revenue

Revenue

EBITDA

EBITDA

Valuation

Valuation
Income Statement
Line Item20242023202220212020
Revenues$380 MM$250 MM$90 MM$120 MM$65 MM
Gross Profit$190 MM$125 MM$45 MM$60 MM$32.50 MM
Net Income (Loss)$43 MM$25 MM$9 MM$12 MM$6.50 MM
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Balance Sheet
Line Item20242023202220212020
Total Assets$850 MM$720 MM$680 MM$650 MM$600 MM
Total Liabilities$450 MM$400 MM$380 MM$350 MM$320 MM
Total Equity$400 MM$320 MM$300 MM$300 MM$280 MM
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Ratios

Revenue / EBITDA
123 MM
Valuation / Revenue
123 MM
Valuation / Employees
$123 MM
EBITDA / Revenue
$123 MM
1-Year CAGR (Revenue)
03
3-Year CAGR (Revenue)
11
1-Year CAGR (Employees)
19
3-Year CAGR (Employees)
96

Employee Figures

Employees

Key Executives

NameTitleSocialsEmailPhone

401K

Total Active Participants
1234
No. Participants with Account Balances
56789
Total Liabilities Start of Year
1234
Total Assets Start of Year
56789

M&A2024-03-15Completed

Seller

Founders Group

Investor Sponsors

NorthBridge PE

Deal Amount

$120M

Target Company Valuation

$1.20 MM

Techniques

Acquisition of Assets, Taken Private

Stake Tags

100%

Is PE deal

Yes

Is deal PE backed

Yes

Total Acquired

100%

Secondary Transaction2023-09-01Canceled

Target

BrightHealth Technologies

Seller

Early Investors Consortium

Investor Sponsors

--

Deal Amount

Undisclosed

Target Company Valuation

NaN

Techniques

Secondary Sale, Management Buy-out (MBO)

Stake Tags

Majority

Is PE deal

No

Is deal PE backed

Yes

Total Acquired

65%

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