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Sesajal Buys Majority of San Diego-based Chosen Foods

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July 28, 2017

Sesajal S.A. de C.V. is a privately held company headquartered in Jalisco and a worldwide leader in the processing of specialty oils, oily seeds and their derivatives, and Mediterranean cuisine ingredients.

Seattle - D.A. Davidson & Co. served as exclusive financial advisor to Chosen Foods, LLC in its majority sale to Sesajal S.A. de C.V., a privately held company headquartered in the Mexican state of Jalisco and a worldwide leader in the processing of specialty oils, oily seeds and their derivatives, and Mediterranean cuisine ingredients.

Founded in 2011 by Carsten Hagen, San Diego-based Chosen Foods is one of the fastest-growing food brands in North America and the No.1 refined avocado oil brand in the world. Chosen Foods was established with the objective of setting the bar for transparency in healthy eating, offering a portfolio of branded products anchored at the intersection of functionality, flavor, and on-trend healthy attributes.

The transaction will combine one of the fastest growing brands in North America with one of the world's preeminent, better-for-you food manufacturing companies. "We are very excited to see Chosen Foods through this next step in its evolution and growth," said Carsten Hagen. "Sesajal has been a valuable partner for many years, and we believe this transaction places our companies in an ideal position for continued growth while maintaining continuity of culture and mission."

George Todd and Sioma Waisburd, Co-Founders and Directors of Chosen Foods, said, "We are grateful to the D.A. Davidson team for their advice and counsel; they played an integral role in supporting and bringing this transaction to fruition."

"Chosen Foods is a remarkable brand," said Sesajal Chief Executive Officer, Inigo Gonzalez. "We are very excited to invest in the business and grow Chosen Foods into a global, better-for-you food company."

"I could not be more excited to continue to lead Chosen Foods under the ownership of Sesajal," said Chosen Foods CEO and Chairman, Gabriel Perez. "Joining forces with Sesajal will allow us to execute on our strategy as a combined team. We appreciate the extensive time and effort devoted by the D.A. Davidson team; they are trusted advisors of the highest caliber."

"This transaction unites two world-class companies, and ideally positions them to achieve common goals," said Jeff Cleveland, Managing Director and head of Food, Beverage and Agriculture Investment Banking at D.A. Davidson. "We look forward to continuing our relationship with the Company as it embarks on its next phase of growth and development," he added.

The transaction represents another successful closing for D.A. Davidson's investment banking group. Since the start of 2015, members of D.A. Davidson's Consumer & Retail investment banking team have advised on 31 completed transactions.

D.A. Davidson's investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise and has extensive transaction experience serving middle market clients worldwide. Learn more at dadavidson.com.