Burgers’ Smokehouse, a specialty meat and food producer based in California, Missouri, has acquired Clifty Farm Country Meats of Paris, Tennessee in a transaction that closed on March 1, 2019. Mercer Capital served as Clifty Farm’s financial advisor.
Founded in 1954, Clifty Farm’s primary product is country ham with other products including bacon, barbecue, sausage, ribs, and a variety of other specialty items selling to both retail and institutional clients. With a growing presence in the Southeast, the transaction facilitates a strategic investment for Burgers’ Smokehouse, while providing for a well-timed ownership transition for the Clifty Farm shareholders.
According to Michael Murphey, Clifty Farm president, “Our family saw this as an opportunity to allow Clifty Farm to continue to grow and succeed.” Mr. Murphey, who will remain with the company following the transaction, worked closely with Nicholas Heinz of Mercer Capital in evaluating Clifty Farm’s strategic alternatives.
“This transaction represents a true win-win for all parties,” Mr. Heinz said, “the shareholders of Clifty Farm have achieved a favorable ownership transition, while the employees and management of the company get to continue producing the quality Clifty Farm products under the Burgers’ ownership.”
Mr. Murphey said, “We’ve worked with Mercer Capital several times over our history, both on internal transfers of ownership and on this final sale of the company; their guidance through this transaction process was critical and helped ensure a successful outcome for everyone.”
Mercer Capital has provided business valuation and financial advisory services to clients across the nation for more than 35 years. For more information, contact Barbara Walters Price (priceb@mercercapital.com).
