M&A Deal Summary

CFS Brands Acquires Foodware Group

On October 2, 2023, CFS Brands acquired consumer products company Foodware Group from Olympus Partners

Acquisition Highlights
  • This is CFS Brands’ 1st transaction in the Consumer Products sector.
  • This is CFS Brands’ 2nd transaction in the United States.
  • This is CFS Brands’ 1st transaction in New Jersey.

M&A Deal Summary
Date 2023-10-02
Target Foodware Group
Sector Consumer Products
Buyer(s) CFS Brands
Sellers(s) Olympus Partners
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Kirkland & Ellis (Legal)

Target

Foodware Group

Lodi, New Jersey, United States
Foodware Group is a manufacturer and supplier of front-of-the-house and back-of-the-house products to the food service industry with over 5,000 products across 25 categories. Foodware Group was formed in 1983 and is based in Lodi, New Jersey.

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Buyer(S) 1

Buyer

CFS Brands

Oklahoma City, Oklahoma, United States
Category Company
Founded 1995
Sector Manufacturing
DESCRIPTION

CFS Brands is a manufacturer and marketer of professional-grade solutions for the restaurant, hospitality, healthcare and janitorial segments. Products for these focused markets include an array of foodservice permanent ware supplies, table coverings, cookware, displayware, storage containers, catering and transport equipment and meal delivery systems. CFS Brands was founded in 1995 and is based in Oklahoma City.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-11 Dura-Ware Company of America

Woodmere, New York, United States

Dura-Ware Company of America, Inc., is a manufacturer of commercial cookware and servingware for the foodservice and hospitality markets. Dura-Ware’s product line includes stainless steel food and beverage servers, chafing dishes, serving trays and pitchers, buffet accessories and numerous fine serving pieces.

Buy -

Seller(S) 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 47 of 50
Sector (Consumer Products) 4 of 4
Type (Add-on Acquisition) 24 of 24
State (New Jersey) 1 of 2
Country (United States) 44 of 47
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 MEI Rigging & Crating

Albany, Oregon, United States

MEI Rigging & Crating is a provider of machinery moving, millwrighting, installation, crating, and export packing services. MEI Rigging & Crating was founded in 1990 and is based in Albany, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 AmSpec

Cranbury, New Jersey, United States

AmSpec is a provider of testing, inspection and certification services for petroleum traders and refiners. AmSpec has independently and accurately analyzed and measured petroleum and petrochemical products throughout the US, Caribbean, Latin America and around the world. AmSpec was founded in 1986 and is based in Cranbury, New Jersey.

Sell -
Mergr

Product

Company

Legal