Lipari Foods, one of the largest specialty food products distributors in the US Midwest, whose product portfolio includes various lines of nuggets, burger patties, seafood, and ready meals under different brands, has been acquired by private equity firm, H.I.G. Capital via one of its affiliates.
Lipari Foods was founded in 1963 and its headquarters are based in Warren, Michigan. Annual net sales for the company are approximately USD1bn. The food producer operates a state-of-the-art 725,00 sq. foot distribution and manufacturing facility outside the state’s capital, Detroit.
Lipari has extended its lineup of products in recent years including several food brands. For example, Wholey Seafood is a collection of frozen, value-added seafood products. The acquisition will allow the company to grow at an even faster rate.
“We are excited about partnering with H.I.G. to support Lipari’s strategic growth plan. The Company continues to have numerous opportunities to expand and H.I.G.’s experience and resources, particularly around M&A, will help us continue our successful growth trajectory. We remain committed to providing outstanding service to our longstanding, blue-chip customers,” said Thom Lipari, president and CEO of Lipari.
The terms of the acquisition were not disclosed at this time.
