US food distributor Lipari acquired by private investment firm

Private investment firm Littlejohn and Co. has led the acquisition of Lipari Foods, a Warren, Michigan, U.S.A.-based specialty food distributor and value-added manufacturer of perimeter-of-the-store specialty foods.

Lipari serves over 7,500 independent and specialty grocers, including more than 2,000 supermarkets and convenience stores, across the United States, with a focus on states east of the Mississippi River. Among the distributor’s 25,000 products are numerous frozen seafood and meat items, along with dairy and deli foods and international grocery items. The company, founded in 1963, sources from more than 2,000 suppliers.

The Lipari family, management, H.I.G. Capital, and Sterling Investment Partners remain minority investors in the company.

“Lipari has also made substantial investments in its manufacturing capabilities to diversify its product portfolio and further support its distribution operations,” the company said in a press release.

Lipari CEO Thom Lipari said his company will be able to grow faster thanks to the resources Littlejohn and Co. will provide his firm.

“Littlejohn’s proven ability of building and scaling distribution businesses will be valuable as we seek to expand our capabilities while continuing to deliver high-quality products and service for our longstanding customers. We look forward to leveraging the firm’s resources to accelerate our growth trajectory and execute on Lipari’s significant organic and acquisition growth initiatives,” he said.

Greenwich, Connecticut, U.S.A.-based Littlejohn and Co., with an estimated USD 7.8 billion (EUR 7.9 million) of assets under management. invests in middle-market companies.

“Lipari builds upon Littlejohn’s deep expertise investing in value-added distribution platforms,” Littlejohn Managing Director Tony Miranda said. “We have long admired Lipari and have been impressed with the company’s highly differentiated business model, tenured management team, and impressive track record of growth and operational excellence.”

Photo courtesy of Lipari Foods