Anybody ever heard of Tricor Pacific Capital? They are a private equity fund that buys well managed, "middle market" companies. They help finance their growth for 3-4 years then sell them to larger conglomerates or take the company's public (usually on the TSE exchange).
Here are their portfolio of companies they currently own and ones that they recently sold.
tricorpacific.com
I stumbled onto this firm in my search for small profitable AG companies, specifically one I discovered is called Golden Boy Foods. tricorpacific.com
They recently completed building a peanut butter processing plant in Troy Alabama.
Troy gets peanut butter manufacturing plant
wsfa.com
This is a perfect example of the AG related vertically integrated small cap company ($210M in sales) I am looking for. At the right price it would make a good addition to my Ag basket.
goldenboyfoods.com
From their Web site:"...Golden Boy Foods supply organic and conventional, private label peanut butter, nut butter, trail mixes, snacking nuts, raisins, dried fruits, baking nuts, rice, beans, lentils, peas and other dry goods to 20 of the top 30 retailers in North America, as well as leading food service organizations and major food processors.
Our manufacturing operations in the North West and North East of the United States and Canada allow us to reach the majority of population centers at low delivered cost....".
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This is one that Tricor Pacific took public in May 2004.
tricorpacific.com
Ag Growth International, Inc. (AFN.TO)
AG GROWTH INC FD (AGGZF.PK)
finance.yahoo.com
Ag Growth International Inc., together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipments. The company offers specialty crop belt conveyors; grain handling equipment; portable grain augers; aeration, grain drying, and storage equipment under the Grain Guard and Keho brands; stationary belt conveyors; galvanized grain bins; material handling and storage equipment; livestock equipment; grain-drying systems; and chain conveyors, as well as grain aeration equipment and grain handling accessories. It sells its products primarily through dealers and distributors in the United States, Canada, and internationally. The company was founded in 1996 and is headquartered in Winnipeg, Canada.
Stock selling around 11 PE, has a good LT debt profile when compared to it's annual income 4:1, ROE=19% and pays a 8.12% dividend. ($0.20/share every month). That's an 84% payout ratio. They have increased their dividend $0.03/share every year for the past three years.
NOTE: I will need to check to see if this company qualifies for the Canadian/US treaty treatment for dividends (no foreign tax withheld on dividend income). If so, it might make a good candidate for the IRA.
The stock has increased in price from the initial offering price (May 2004) by 300% in the last 4 years. The stock is off 39% from it's all time high of $55.00/share made in Feb 2011.
The average earnings estimate for 2012 (7 analysts) is $3.00/share. At the current price their Forward PE is very close to 10.
I have added this one to my watch list.
EKS |
