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ACG Helps Mikawaya Acquisition Keep Ownership Local

Mikawaya, one of the oldest continuously operating companies in Los Angeles, has been sold to Los Angeles based private equity firm Century Park Capital Partners. ACG member William and Henry Associates served as financial advisor to Mikawaya and the J& K Freidman Trust. The transaction also involved the sale of the Company's factory, located in Vernon. Gramercy Property Trust acquired the building. Financial terms of the two transactions were not disclosed.

Founded in 1910, Mikawaya may not be a household name to many, but one of its signature products has tantalized taste buds for generations. The American confectionery company, which specializes in Japanese pastries, snacks and desserts, is credited with inventing mochi – those delectable dollops of ice cream with a coating of sweet Japanese rice cake.

As a business fixture in Southern California, Mikawaya wanted to maintain its roots locally and as such looked for guidance from a company that had an extensive network in the region. They found the perfect resource in ACG Los Angeles member William and Henry Associates, who served as financial advisor to Mikawaya.

"We are pleased to have found a local buyer for the assets of Mikawaya. This transaction will enable the company to remain in Los Angeles in the future," said ACG member David Iannini, President of William and Henry Associates. Mr. Iannini credits ACG Los Angeles as a way to build relationships that lead to opportunities like the sale of Mikawaya. "We found the ACG network extremely helpful in identifying the buyer as well as the resources to get this transaction done."

William and Henry Associates used ACG to build a team to prepare Mikawaya for sale. Fellow ACG member Jay Mangel of the accounting firm Crowe Horwath performed an initial audit for the seller. Mr. Iannini also reached out to Jake Jacobs of Rose, Snyder & Jacobs – with whom he connected via ACG – to handle accounting preparation. ACG was also represented on the buy side. Century Park Capital Partners, purchaser of business as well as the firm of Holthouse, Carlin & Van Trigt - who provided financial due diligences to the buyer – are ACG Los Angeles members.

Mikawaya's mochi has proved to be a strong hit with consumers. The company now sells its ice cream in Albertsons, Trader Joe's, Ralphs, and Safeway. The mochi line accounts for the majority of Mikawaya's sales. The company has retail locations in Little Tokyo, Torrance and Arcadia.
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