Advent International to Acquire a "Significant Stake" in Foodservice Packaging Distributor Imperial Dade.

MANews-(C)2009-2022

US-based private equity investors Advent International has signed a definitive agreement to acquire a "significant" stake in US-based foodservice packaging and janitorial supplies distributor Imperial Dade from Bain Capital Private Equity, the firm said.

Bain Capital, which first invested in Imperial Dade in 2019, and Advent will have joint Board governance.

Imperial Dade will continue under a leadership of Robert and Jason Tillis, chairman and CEO respectively, who remain significant investors in the business alongside the current management team.

Financial terms of the private transaction were not disclosed.

Founded in 1935 and based in Jersey City, NJ, Imperial Dade is an independently owned and operated distributor of foodservice packaging, facilities maintenance supplies, floor equipment, and industrial packaging serving North America, Puerto Rico, and the Caribbean.

With approximately 6,400 employees, Imperial Dade provides customized supply chain solutions to customers in the foodservice, grocery, hospitality, cruise lines, healthcare, retail, government, facilities maintenance, and export market segments.

Imperial Dade operates from a network of strategically located distribution centers totaling over 10.2 m square feet of warehouse space across North America and serves more than 90,000 customers.

Since 2019, Imperial Dade's revenue has increased from USD 2bn to USD 5bn as a result of organic growth and the acquisition of regional distributors...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT