The Stamford-based private equity firm Olympus Partners has announced its sale of The Foodware Group to CFS Brands, an Oklahoma City-headquartered food service company. The financial terms of the transaction were not disclosed.
Headquartered in Lodi, New Jersey, The Foodware Group is a provider of supplies to the food service industry, and its divisions include the tableware suppliers Winco and GET. Olympus Partners acquired GET in 2016, which merged with Winco in 2017.
In a press statement, Olympus Partners claimed that since its initial investment in The Foodware Group, “EBITDA has more than tripled while the company has opened new facilities across North America and broadened its product selection to become one of the largest suppliers to the food service industry.”
“It has been a tremendous pleasure working with the entire Foodware Group family,” said Mike Horgan, a partner at Olympus. “The success of our investment was driven by our talented management team and the hard work of all of the members of The Foodware Group team during an unprecedented period in the food service industry. I look forward to seeing this business continue to thrive in the years ahead.”
Photo courtesy of The Foodware Group
