US-based holding company Legacy Food Group has announced the acquisition of four foodservice companies: Keck's Food Service, M&V Provisions, Thomsen Foodservice and Legacy Foodservice Alliance.
The newly launched holding company has been set up to acquire high-quality, mid-tier or larger distributors that fit their operational and financial expectations to create super-regional competitors in foodservice distribution.
It is backed by the Charlottesville, Virginia-based mid-market private equity firm Quad-C Management.
Quad-C partner Michael Brooks said: “We have been active investors in distribution across a range of industries and have been specifically pursuing highly attractive foodservice sector for the last several years in partnership with Steve Push.”
Following these acquisitions, each company will continue to retain their existing names and management teams.
It will allow the companies to maintain their autonomy in the market while operating as an owned subsidiary of Legacy Food Group.
The present owners of the new partner firms will also secure an ownership interest in Legacy Food Group.
Legacy Food Group board of directors member and CEO Steve Push said: “Our objective is to maintain the exceptional customer service and other benefits of local ownership and management, while combining to achieve the scale benefits and broader service to customers seeking a new option capable of serving a larger region.”
Push will be joined by a team of other foodservice professionals, including chief financial officer Heidi Moore.
Keck's Food Service is a broad-line foodservice and bakery ingredient distributor located in Millerton, Pennsylvania and founded in 1964.
M&V Provisions, established in 1949, is a fourth-generation, family-owned re-distributor in Ridgewood that caters to the “jobber” community and wholesalers.
The Richmond-based Legacy Foodservice Alliance is a foodservice supply chain alliance. It currently has more than 120 foodservice distributors.
Thomsen Foodservice, founded in 1951, is a distributor that caters to various independent restaurant customers in Rhode Island, Massachusetts and Connecticut.
Moving forward, Legacy Food Group is working to partner with Unipro Foodservice as a stockholder member.
UniPro’s board of directors and the stockholder members have already approved the potential collaboration.
