February, 2019

Third Coast Capital Advisors served as exclusive financial advisor to Lipari Foods, a portfolio company of H.I.G. Capital, in its acquisition of Troyer Cheese. 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 fourth 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.

Troyer Cheese, based in Millersburg, Ohio, is a specialty food distributor, manufacturer and processor of premium deli, cheese, jar goods, confections and other specialty food products, serving 2,400 retail customers in 48 states. It offers several proprietary brands, including Troyer meats, cheeses and deli products, Amish Wedding Foods’ jar goods and Backroad Country Candy and snacks.

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.