The Foodware Group, based in Lodi, has been acquired by CFS Brands of Oklahoma City. The acquisition creates a preferred provider of smallwares and supplies to the foodservice, health care and hygiene markets.
Terms of the private transaction completed Monday were not disclosed.
The Foodware Group is an end-to-end provider of supplies to the food service industry, delivering the highest-value solutions with uncompromised quality and exceptional service. The Foodware Group divisions include Winco and G.E.T. Foodware Group; it was formed through a strategic combination of G.E.T, which has a 40-year legacy of providing complete “front of house” solutions in dinnerware, drinkware, display and buffetware; and Winco, a “one-source” supplier for tabletop, smallwares, janitorial and countertop equipment.
With the combination of CFS Brands and the Foodware Group, customers will have access to the broadest and deepest lineup of products and solutions to enhance their business, including Carlisle FoodService Products, San Jamar, Dinex, Winco and G.E.T. brands, among others.
Distributors and end users will be able to consolidate their purchases under a single supplier, reduce complexity in their operations and lower their total costs.
“The acquisition of the Foodware Group is a transformational opportunity for CFS Brands,” CEO Trent Freiberg said. “The Foodware Group joins a portfolio of businesses and brands that are leaders in their respective markets. CFS Brands and TFG are a great fit, and, together, we will build on our combined strengths and shared values to continue our track record of sustainable growth and exceptional results. We are excited to work with the leadership team at the Foodware Group, and we welcome all TFG employees to CFS Brands.”
“We have built a great company over the last few years that has driven strong growth and created many opportunities for our exceptional team. Our products and capabilities are a great complement to what CFS Brands offers, creating the opportunity to leverage the best of both,” Jim White, CEO of the Foodware Group, said. “This is one of those rare situations where the complementary strengths of two companies create an opportunity to make one plus one equal three.”
The integration process will be a gradual evolution that begins with taking needed time to develop a deep understanding of the businesses, brands and teams, and the companies’ respective strengths and opportunities. G.E.T. and Winco will each continue to operate as stand-alone entities within CFS Brands. Customers and suppliers will continue to interact with CFS Brands, G.E.T. and Winco as they have in the past.
Guggenheim Securities LLC is serving as financial adviser, and Winston & Strawn is serving as legal counsel to CFS Brands. Houlihan Lokey is serving as financial adviser, and Kirkland & Ellis is serving as legal counsel to the Foodware Group.
