Wholesome Holdings Teams with Brazos To Acquire Sadlers Smokehouse Ltd.

10/24/07:

Wholesome Holdings Teams with Brazos To Acquire Sadlers Smokehouse Ltd: Wholesome Holdings announced today the acquisition of Texas-based Sadlers Bar-b-que, Inc in a major transaction in the fully cooked protein marketplace. Sadlers is a leading manufacturer in premium smoked beef brisket, black angus, turkey and pork cuts. The company also produces a wide range of fresh, microwaveable dinners, barbeque with sauce, barbacoa and other fresh and frozen products. The company’s history dates back to 1949 and more recently includes strong relationships with the country’s largest retailers.

The transaction was funded by equity from Wholesome Holdings, Brazos Private Equity Partners and a rollover investment by the Sadler family. Credit facilities were provided by 3 leading lending institutions active in the food space. As part of the agreement, O’Brien agreed to take on the CEO role overseeing the investment and current management team.

Terry O’Brien, Wholesome Holdings Chairman and CEO commented on the transaction “We are proud to partner with Brazos under our previously announced agreement …and with the Sadler family management members. We are equally happy to announce that founder Harold Sadler has agreed to invest in the new entity and to stay on as Chairman. We intend to invest significantly in new technology, key executive positions and additional marketing to leverage this brand nationally and to remain best in class for our current partners.