O’Melveny Represents Nolan Capital as it Acquires Majority Stake in Coastal Farm & Ranch12月 29, 2021
FOR IMMEDIATE RELEASE
CENTURY CITY—December 29, 2021—O’Melveny represented Nolan Capital in its acquisition of a majority stake in Coastal Farm & Ranch, the Northwest’s leading ranch and country lifestyle retailer.
As part of the deal, Coastal has transitioned to a new ownership group with Nolan Capital as the majority partner.
Nolan Capital is a family office founded, owned and operated by Peter Nolan to make long-term investments on behalf of his family. Peter brings decades of experience advising the growth of companies around the United States. The firm primarily invests in family-owned businesses with exceptional track records, and they will continue to invest in the growth and success of Coastal. Nolan Capital will also partner with Coastal’s leadership to identify opportunities for growth and investment.
The O’Melveny team advising Nolan Capital on this transaction was led by Corporate partners David Smith and Rob Graffum with assistance from associate John Peshtaz and counsel Sarah Hoffner.
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Coastal Farm & Ranch issued the following press release:
Coastal Farm & Ranch Announces Transition to New Ownership Group
Nolan Capital is now majority partner; Investment from family firm opens door to continued growth
DECEMBER 27, 2021 (Portland, Ore.) – Today, Coastal Farm & Ranch, the Northwest’s leading ranch and country lifestyle retailer, announced that it has transitioned to a new ownership group with Nolan Capital as the majority partner.
Buzz Wheeler, the owner of Coastal since 1990, will maintain an ownership stake and continue to advise the company’s growth as a member of the board. Lori McKinnon, CEO who has worked for the company since 1995, will continue in her role.
“Building Coastal Farm & Ranch into the company it is today has been one of the greatest accomplishments of my life, and I am proud of our support for Northwest communities,” said Buzz Wheeler. “This decision was made with the utmost care for my family, our employees and the company’s future. We are transitioning Coastal from one West Coast family to another, and I am confident that the business is set up for continued success with Lori and Nolan Capital.”
Nolan Capital is a family office founded, owned and operated by Peter Nolan to make long-term investments on behalf of his family. Peter brings decades of experience advising the growth of companies around the United States. The firm primarily invests in family-owned businesses with exceptional track records, and they will continue to invest in the growth and success of Coastal.
The partnership with Nolan Capital marks an exciting next step for Coastal, as Nolan Capital will partner with Coastal’s leadership to identify opportunities for growth and investment.
Larry Hayward, CEO of Del Mar Ventures, will also join Coastal’s ownership group and serve as non-executive chairman of the board. Hayward made a meaningful investment in Coastal alongside Nolan Capital and he will play a strategic role in advising the company’s growth. Hayward was previously the CEO of Leslie’s Poolmart, as well as Carr-Gottstein Foods Co.
Wheeler is nearing retirement and diligently sought a partner with deep commitment to Coastal’s employees and culture who could drive the company’s continued success. Under Wheeler and McKinnon’s leadership, Coastal has grown to 1,100 associates and 20 locations throughout the Northwest.
“Coastal’s growth and resiliency is a testament to the team, culture and operation that Buzz has created,” said Peter Nolan. “Lori also excels in her multi-faceted leadership role and we trust that with her heading up operations, the company is in a strong position for continued success. With the collective knowledge, expertise and resources of our partnership, we can grow Coastal into one of the leading retail brands on the West Coast.”
About Coastal Farm & Ranch
Coastal Farm & Ranch is a West Coast-owned and operated farm and ranch lifestyle retailer. Since 1963, customers have trusted Coastal to provide the best experience, products and service that allow them to live their lifestyle. With a deep belief in serving the community and acting with integrity, Coastal has grown to 1,100 associates and 20 locations across the Northwest.
About Nolan Capital, Inc.
Nolan Capital is the family office of Peter Nolan. Peter has more than 39 years of investing experience and was the former Managing Partner of Leonard Green and Partners in Los Angeles, California. He currently serves as a Senior Advisor to Leonard Green. Peter has investment experience in a variety of sectors, such as consumer products and services, retail and restaurants, manufacturing, distribution, industrial products, business services, government services and healthcare. Nolan Capital invests in leading middle-market companies. Led by Peter J. Nolan, Nolan Capital executes and manages private equity, real estate and other investments on behalf of the Nolan family. Contact: firstname.lastname@example.org.