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November 30, 2018

Sole Source Capital acquires Individual Foodservice

Private equity firm Sole Source Capital has acquired Individual FoodService, a California-based food distributor.

Private equity firm Sole Source Capital has acquired Individual FoodService (IFS), a California-based food distributor.

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Following this acquisition, Sole Source plans to establish a partnership between Individual FoodService and its already owned Trade Supplies brand.

Sole Source acquired Trade Supplies, which carries more than 7,000 stocked products and serves the Western US market, in June this year.

Set to operate under IFS, whilst retaining Trade Supplies’ name, the combined entity will serve as a non-perishable foodservice distributor and packaging solution provider in California. It will have a client base of more than 5,000 weekly customers, including fast casual, family-owned and major chain restaurants, food processors, caterers, bakeries, schools, healthcare facilities and foodservice distributors.

The combined company will use its enhanced scale to tap the growth trends in the restaurant takeout and digital food delivery space.

Sole Source Capital managing partner David Fredston said: “The combination of IFS and Trade Supplies establishes a leader in foodservice distribution throughout California that will offer its customers an increasingly diversified range of products and exceptional service.”

“Sole Source has established itself as the preferred partner in foodservice distribution due to its relevant operational expertise and its network of industry contacts.”

Product offering of the combined company will include packaging, paper and plastic disposables, catering items, food products, janitorial supplies, healthcare facility products and other foodservice smallwares and equipment.

Investments in technology and new products at the combined company are expected to boost customer experience.

Individual FoodService president and CEO Steve Supowitz said: “Complementary product lines and a mutual commitment to customisable offerings will further enhance our ability to serve a diverse retail and wholesale customer base.

“Sole Source has established itself as the preferred partner in foodservice distribution due to its relevant operational expertise and its network of industry contacts.”

Supowitz will lead the combined entity, while Trade Supplies CEO Jeremy Shapiro will serve as the president.

Terms of the transaction were not disclosed.

Free Report
img

The critical role of sustainability for Foodservice success in the 2020s

Consumers have radically re-thought their priorities in recent years and changed their habits for the good of the planet, starting to hold companies accountable for their ESG activities. These changes are set to be significant hallmarks of the Consumer Landscape in the 2020s. In order to appease consumers’ new concerns, meeting these new sustainability imperatives will be crucial for the recovery of the Foodservice industry. Consumers are expected to use ESG criteria much more actively in their selection of Foodservice brands to engage with. Download GlobalData’s free report to:
  • Understand the range of ESG challenges currently facing the Foodservice sector
  • Gain insight into consumers’ expectations via consumer survey deep dives
  • Learn from foodservice operators and brands who are already successfully embracing ESG strategies
Stay ahead of consumer concerns and rise to meet them. Download the report now.
by GlobalData
Enter your details here to receive your free Report.

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