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Benchmark International Facilitated The Transaction Between Dover Foods, Inc. and Transylvania Vocational Services, Inc.
October 4, 2022
Benchmark International has successfully facilitated a transaction between Mills River, NC-based Dover Foods, Inc. and Translyvania Vocational Services, Inc. (TVS) of Brevard, North Carolina. Dover is a manufacturer of high-quality dry mix consumer packaged goods (CPGs), including a high-growth private label business. TVS is a mission-oriented manufacturer of dry packaged goods, selling its products largely through USDA and USAID hunger assistance, food bank, and other programs.
Founded in 1994 by CEO Kathy Milner, Dover Foods has expanded steadily during nearly three decades as a manufacturer and supplier of premium CPGs to nearly every major grocery chain operating in its home region. Under Milner’s tenured leadership, the company also built (launched in 2016) and expanded a successful co-packaging business, driving significant additional growth in the years leading up to the TVS transaction. The relationship with TVS will provide Milner and the Dover team with key growth capital and a closer partnership with one of the most-established players in North Carolina’s thriving CPG space.
“Kathy Milner has built a great business in a very hot sector of the market. Dover Foods received a lot of attention from both strategic and private equity buyers immediately, providing Kathy with options in terms of a partnership. With nearly 30 years invested in the company, Kathy was adamant that she find a great cultural and operational fit. TVS’s mission-oriented corporate philosophy, stalwart market position, and strong operational alignment ultimately provide to be that fit. The entire Benchmark International team is excited to watch Dover’s next phase of growth and development.” - William Sullivan, Transaction Director, Benchmark International.
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