December, 2018

Third Coast Capital Advisors served as exclusive financial advisor to Lipari Foods, a portfolio company of Sterling Investment Partners, in its acquisition of Heagy Foods. Our Acquisition Search services included identifying the target and making contact with its owner, as well as providing assistance on valuation, transaction structure and the negotiation and closing of the transaction. This transaction represents the third acquisition that we have sourced for Lipari Foods and is a good example of our ability to identify and execute proprietary, add-on acquisitions for private equity portfolio companies.

Heagy Foods, based in Lancaster, Pennsylvania, is a distributor of cheeses, deli meats and frozen foods to independent grocery stores, corporate chains and other retailers. The Company also sells product through its own Guernsey gift brand. This acquisition allows Lipari to expand its distribution coverage further into the Northeast and to add specialty deli items to its product portfolio.

Lipari Foods, based in Warren, Michigan, is a leading distributor of perimeter-of-the-store, specialty, and branded food products, serving over 6,300 customers in 16 states. The Company’s products span the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic, and organic categories. The Company generates approximately $1 billion of net sales annually, serving customers via its state-of-the-art 725,000 sq. foot distribution and food manufacturing facility just outside of Detroit, Michigan.