Woodbridge Completes DiLeo/Henny’s Transaction

August 25, 2005

New Haven, CONNECTICUT – August 25, 2005 – Waterbury-based DiLeo Brothers, Inc., a wholesale grocery distributor, was sold to Henny’s Wholesale, a growing Connecticut wholesale grocery distributor. Woodbridge acted as mergers and acquisitions (M&A) advisor to DiLeo Brothers, which at the time of sale was generating annual revenue of approximately $12 million.

DiLeo, a second-generation, family-owned business, operated with a total of 42 longtime employees and served a customer base of 800 accounts.

“It was a perfect fit,” said Donald A. Krier, Woodbridge senior vice president who managed the deal. “Henny’s was looking to shift from a grocery retailer to being a wholesale distributor and the DiLeo acquisition made that possible.” Henny’s expects the combined revenue of the two entities to double and triple over the next few years.

To find the best possible acquirer for DiLeo, Woodbridge marketed the company to roughly 1,500 prospective buyers.

Financing for the deal was provided by The Bank of Southern Connecticut with an SBA guarantee. DiLeo Brothers were especially pleased to obtain a primarily cash deal at closing.

Woodbridge, LLC., an innovative M&A firm, was established in 1993 and provides a full range of divestiture and acquisition services to middle market companies.