High-end barbeque brand positioned for outsized growth after acquisition
Chicago, IL — December 2, 2024 — Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Lillie's Q Sauces & Rubs, LLC (“Lillie’s Q”), a premium barbeque (“BBQ”) brand, to OWS Foods, the maker of Championship BBQ sauces and rubs. BGL’s Food and Beverage investment banking team served as the exclusive financial advisor to Lillie’s Q. This deal marks BGL’s second transaction this year in the gourmet condiments and sauces category and third within the broader specialty foods industry.
Founded in 2010 by two-time World Barbecue Champion, Chef Charlie McKenna, Lillie's Q is an established barbeque brand known for its authentic Southern flavors and premium quality sauces, rubs, and seasonings. Growing up in Greenville, South Carolina, McKenna learned the art of true Southern BBQ from his Grandma Lillie, whom he named the company after. As he traveled the BBQ competition circuit from Memphis to Alabama and the Carolinas, he created a sauce unique to each region. In 2014, with co-founder Brian Golinvaux, the Company commercialized its premium products into a CPG portfolio sold into retail grocery stores.
Chef and Founder Charlie McKenna of Lillie’s Q remarked, “With BGL’s guidance and advice, we were able to identify and negotiate with the right partner to accelerate the Lillie’s Q brand. When I launched Lillie’s over 14 years ago, the goal was to get the product into every household. We believe we have the best-tasting product in the market, and with the resources offered through a bigger platform, we are excited about the opportunities ahead.”
“The BGL team ran an excellent, efficient process which resulted in a fantastic partner for the company,” added Brian Golinvaux, Co-Founder and President.
OWS Foods was established in 1988 and is the maker of Championship BBQ sauces and rubs, including Head Country, and is now very excited to welcome Lillie's Q to the team. The company operates a highly acclaimed research and innovation lab in Overland Park, KS to support state-of-the-art production facilities in Concordia, MO, and Ponca City, OK.
The partnership will help Lillie’s Q rapidly expand its national presence in conventional grocery, foodservice, and club channels. OWS Foods’ research & development capabilities, coupled with Charlie McKenna’s award-winning taste profiles, will help Lillie’s Q explore and enter new complementary product categories.
BGL’s Food and Beverage investment banking team, led by BGL Managing Director Daniel Gomez, has deep sector knowledge and extensive transaction experience, representing companies across the entire food and beverage landscape. Coverage includes branded and private label products, global supply chain, contract manufacturing, processing, and distribution.
To learn more about the state of food & beverage M&A, including the trends and opportunities in the specialty food sector, download our most recent Food and Beverage research reports: https://bit.ly/BGLFoodandBeveragePublications
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About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Boston, Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of REACH Cross-Border Mergers & Acquisitions, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
Industry Contacts:
Daniel J. Gomez
Managing Director
Head of Food & Beverage
[email protected]
312.658.4789
Stephen D. Scharafin
Director
Food & Beverage
[email protected]
312.658.4777
Media Contact:
Kaylyn R. Hlavaty
Communications Specialist
216.920.6622
[email protected]