Coming off its own acquisition spree—gobbling up companies like Jerusalem Foods in November of 2018—the food distributor announced that its interests have been acquired by H.I.G. Capital, a private equity firm headquartered in Miami. H.I.G Capital noted that it is partnering with Lipari Foods’ founding family, as well as the current management team, to grow the company’s distribution and manufacturing platform.
“We are very excited about partnering with H.I.G. to support Lipari’s strategic growth plan,” said Thom Lipari, President and CEO of Lipari Foods, in a recent press release. “The company continues to have numerous opportunities to expand and H.I.G’s experience and resources, particularly around M&A, will help us continue our successful growth trajectory. We remain committed to providing outstanding service to our longstanding, blue-chip customers.”
Founded in 1963, Lipari is distributor of specialty and branded food products, serving over 6,300 customers throughout the Midwest and beyond. The company’s products span the deli, bakery, dairy, and specialty retail categories. The press release noted that Lipari generates approximately $1 billion of net sales annually and serves its customers via a 725,000-square-foot distribution center outside of Detroit, Michigan.
“Lipari is an impressive platform that has grown significantly over the years by expanding upon its midwestern roots,” added Justin Reyna, Managing Director at H.I.G. “We are very excited to partner with the Lipari management team, who has a proven track record of profitable growth. The company’s significant customer value proposition, diverse product portfolio, and unparalleled distribution capabilities uniquely position it to capitalize on growth opportunities within the food distribution, import, and manufacturing markets. We look forward to supporting Lipari and investing in both organic and acquisition-driven growth in its next stage of evolution.”
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