Wealth Planning Advice
SunTrust Wholesale Banking
M&A Feature Video Script
BD&K: Merging for Success
What we do at BD&K Foods is we cook the southern-style vegetables that many people in the South grew up eating as sort of home-style comfort food.
We cook turnip greens. We cook collard greens. We cook butter beans. We cook black-eyed peas. We cook mashed potatoes. We cook the things that you may see at your grandmother’s house on Thanksgiving or a Sunday afternoon. And we've made a nice business out of that over the years.
BD&K stands for Brad, David, and Kevin, the three original founding partners. Coming from the restaurant business, we saw what the challenges restaurant operators faced, in making their products on a day-to-day basis. We thought that we could assist them in their operations. And that was really the founding principle of
We came to Columbus in 2009. It was a big move for us. It was a much bigger expanded facility. We had to hire new employees. We had to move all our operations down here. It was a challenging time.
2015 comes along and we were making remarkable progress. In fact, we were kind of astounded at what was taking place on a quarter-by-quarter basis.
SunTrust made sure we understood the risks that fast growth brought along. They introduced us to the term “smart growth.” When a company is expanding rapidly, it’s an exciting time for the owners, but it’s also a dangerous time. It’s easy to get out over your skis.
We had about exhausted the floor space that we had available to us. The capital requirements of an expansion for us was just a bit of a stretch. An acquisition seemed appropriate at the time, given the constraints of capital, and the personal liquidity needs that we were starting to encounter.
This is our first transaction. We are basically in the turnip green cooking business. Business owners like us looking to sell their business to financially-oriented acquirers are at a disadvantage. They do a lot of these deals, whereas we did not. Having a partner like SunTrust investment banking on our side leveled the playing field.
Because of our commercial banking background relationship we think it really facilitated the understanding of our business from their investment banking standpoint. The range of financial services both in commercial banking, investment banking, and now in wealth management—has given us what you may call financial confidence in our personal lives.
For a business owner, it is very difficult to turn over control of something that means so much to you, that your whole financial life is dependent on, and that you've given birth to.
The acquisition has allowed us to focus more on our strengths, hand off some of the other tasks to more capable employees. And that has been a big stress relief for my partners and myself.
It’s amazing how much more enjoyable it has been just to come to work day-to-day.
When we first began the business in 1999, the three people doing the actual work on the floor was Brad, David, and Kevin, the partners. And we've got this small bin and we would buy a pallet of ice in the mornings, and we would dump the ice bags over into the bin and we’d throw the products into the bin, and we’d stir them with a boat paddle. And to this day, we still have that bin out there. But when we are on the floor, and see what’s been created out there since then, we look over at that bin, and we can remember what it was like the very first days that we started doing what we're doing out there. And, that’s a neat thing to—to look down at.
This content does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.
Business transition planning ensures that when transition time arrives, hard work results in ample financial returns and a new chapter for both business and owner.
Business property ownership is a tried and true small business approach to diversify assets, secure a strategic business asset and put your rent to work creating value.
Once a loan is funded, it’s loan covenants that keeps the relationship strong, protecting the borrower’s business and assuring the lender that they will be repaid.
Having a financial advisor with you when you’re thinking about selling your business can be a helpful tool to help you decide how and when is the best time to sell.
Private equity offers business owners more than a way to sell. It can be a tool to build value for themselves and their companies.
For details about Wire Transfers with SunTrust, call 1.800.947.3786 – options 1 & 4
SunTrust Incoming wire instructions:
Investment and Insurance Products:
Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
© 2019 SunTrust Banks, Inc.
Equal Housing Lender. SunTrust Bank - NMLS #93471Link opens a new window. Member FDIC.
SunTrust, SunTrust PortfolioView, SunTrust Robinson Humphrey, SunTrust Premier Program, AMC Pinnacle, AMC Premier, Access 3, Signature Advantage Brokerage, Custom Choice Loan and SunTrust SummitView are trademarks of SunTrust Banks, Inc. All rights reserved. All other trademarks are the property of their respective owners.
Services provided by the following affiliates of SunTrust Banks, Inc.: Banking products and services are provided by SunTrust Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank, SunTrust Delaware Trust Company. Securities, brokerage accounts and insurance (including annuities) are offered by SunTrust Investment Services, Inc., a SEC registered broker-dealer, member FINRA, SIPC, and a licensed insurance agency. Investment advisory services are offered by SunTrust Advisory Services, Inc., a SEC registered adviser. GFO Advisory Services, LLC is a SEC registered investment adviser that provides investment advisory services to a group of private investment funds and other non-investment advisory services to affiliates. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank, and loans are made by SunTrust Bank.
"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRALink opens a new window and SIPCLink opens a new window, and a licensed insurance agency, and which provides securities, annuities and life insurance products; SunTrust Advisory Services, Inc., a SEC registered investment adviser which provides Investment Advisory services.
SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups and GenSpring are marketing names used by SunTrust Bank, SunTrust Delaware Trust Company, SunTrust Investment Services, Inc., and SunTrust Advisory Services, Inc.
SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRALink opens a new window and SIPCLink opens a new window.