Goldner Hawn Selling Vitality Foodservice
November 20, 2009 — PEHub — Goldner Hawn Private Equity has agreed to sell Vitality Foodservice, Inc., a Tampa, Fla.-based dispensed beverage business, to Nestlé Professional. No financial terms were disclosed.
Vitality Foodservice, Inc., a portfolio company of Goldner Hawn Private Equity, today announced that it has agreed to be acquired by Nestlé Professional, Nestlé’s globally managed business dedicated to the out of home food and beverage market. The acquisition price was not disclosed. This transaction excludes the Vitality European manufacturing and distribution business.
Headquartered in Tampa, Vitality Foodservice, Inc. has been an innovative force in the foodservice dispensed beverage business for over 50 years. With a full array of beverage offerings and an extensive sales and service network throughout North America, Vitality is a prominent beverage solutions provider for a diverse customer base in both commercial and non-commercial foodservice segments.
Gary Viljoen, CEO of Vitality Foodservice, said: “We are extremely excited about the business prospects for the combined companies. The opportunity to join with Nestlé Professional provides us with very complementary product lines. Their impressive portfolio of consumer brands will further strengthen our proposition with foodservice operators and patrons. The collective resources of these two companies will make us an even more formidable force in the away from home beverage category.”
Vitality Foodservice employs over 700 people including those in sales, marketing, service, manufacturing, procurement, and administrative capacities. Complete dedication to the foodservice market allows Vitality to focus on developing beverage solutions that provide value, offer operational efficiencies, and are on trend with today’s consumers.
The transaction is subject to regulatory approval and is expected to be completed within 30 days from the date of this announcement.
Sawaya Segalas & Co., LLC, a leading consumer investment banking firm, acted as financial advisor to Goldner Hawn Private Equity, in connection with the transaction.
About Vitality Foodservice, Inc.
Vitality Foodservice, Inc., headquartered in Tampa, Florida, is a leading provider of beverage solutions to the foodservice industry worldwide. What sets Vitality apart is its ability to provide foodservice operators with complete beverage programs including innovative dispensing equipment, a wide assortment of beverages, beverage sales experts, and a dedicated service network. Foodservice operators have counted on Vitality to help them serve top quality beverages including juices, teas, coffees, cocktail and smoothie mixes, innovative specialty drinks and much more. Vitality’s broad and diverse base of foodservice customers covers many segments including restaurants, lodging, cruise lines, healthcare, military, education, business and industry, and gaming. With thousands of Vitality dispensers in use worldwide, millions of consumers enjoy Vitality beverages everyday.
For more information about Vitality, visit www.vitalityfoodservice.com or call 888-863-6726.
About Goldner Hawn Private Equity
Founded in Minneapolis in 1989, Goldner Hawn invests in seasoned, middle-market companies that are headquartered in the Midwest, have capable management teams, distinct market advantages and clear growth potential. The approach of keeping management teams of acquired companies in place, and a history of holding investments for five years or more, makes Goldner Hawn unique in its industry. Goldner Hawn has made 30 private equity platform investments through the company’s Marathon Funds and has established long-term relationships with many of America’s leading financial institutions to support its investments. Its current investment fund, Marathon Fund V, has committed capital of $255 million.
For more information about Goldner Hawn Private Equity visit www.goldnerhawn.com.