Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Indo~European Foods (IEF), a value-added distributor of ethnic, specialty food products and a portfolio company of Corridor Capital, to Ziyad Brothers (Ziyad), a provider of Middle Eastern and Mediterranean products and a portfolio company of Peak Rock Capital. BGL’s Food and Beverage investment banking team served as the exclusive financial advisor to IEF. This deal marks BGL’s fourth transaction this year within the broader specialty foods sector.
“Dan and Stephen ran a tailored and focused process that resulted in finding a partner we believe is well-suited to support the continued growth of IEF,” said Iman Navi, Managing Director, Corridor Capital. “We appreciate the efforts of the BGL Food and Beverage team and their guidance and unwavering advice throughout every step of the process.”
Founded in 1966, IEF is an importer and value-added distributor of specialty ethnic foods offering third-party, proprietary branded, and private label products to over 1,000 independent ethnic grocers predominantly located in the Western United States and national chains covering 45 states. As a press release stated, IEF sources, develops, markets, and distributes Eastern European, Mediterranean, and North African food products including spreads, preserves, condiments, appetizers, cheeses, confections, seasonings, and specialty grains and rice. The company’s primary owned brands include Indo-European and ZERGÜT.
Ziyad is a manufacturer and distributor of branded and private label Middle Eastern and Mediterranean food and beverage products. Headquartered in Chicago, Illinois, with additional facilities in New Jersey and California, Ziyad has a diverse product portfolio of over 800 SKUs. Founded as a small bakery in 1966 in Chicago, Ziyad now owns numerous brands and partners with dozens of companies on an exclusive basis to deliver their products within the North American market.
This transaction brings together two companies that have highly complementary brand portfolios and geographic footprints, added the release, enabling both companies to offer customers an expanded assortment of products. The partnership is designed to also help IEF rapidly expand its national presence throughout key growth markets in the South and Midwest.
BGL’s Food and Beverage investment banking team, led by BGL Managing Director Daniel Gomez, has deep sector knowledge and extensive transaction experience, representing companies across the entire food and beverage landscape. Coverage includes branded and private label products, global supply chain, contract manufacturing, processing, and distribution.
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