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Lipari Foods acquired by private equity firm

Wholesaler aims to continue steady expansion

Russell Redman

January 9, 2019

2 Min Read
Lipari Foods
Lipari Foods

Distributor Lipari Foods has been acquired by Miami-based private equity firm H.I.G. Capital.

Financial terms of the deal, announced Tuesday, weren’t disclosed. Under the transaction, H.I.G. purchased Westport, Conn.-based Sterling Investment Partners’ interests in Lipari Foods Operating Co. LLC.

Specializing in perimeter-of-the-store, specialty and branded food products, Lipari serves more than 6,300 customers and 13,000 retail locations across 14 states, primarily in the Midwest. The Warren, Mich.-based company generates annual sales of about $1 billion. Its 25,000 products span the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic and organic categories.

H.I.G. said it’s partnering with the Lipari family and the current management team to expand the food wholesaler’s distribution and manufacturing platform, which operates from a 725,000-square-foot facility just outside Detroit.

“We are very excited about partnering with H.I.G. to support Lipari’s strategic growth plan,” Thom Lipari, president and CEO of Lipari Foods, said in a statement. “The company continues to have numerous opportunities to expand, and H.I.G.’s experience and resources — particularly around M&A — will help us continue our successful growth trajectory. We remain committed to providing outstanding service to our longstanding, blue-chip customers.”

During 2018, Lipari made three acquisitions: specialty deli wholesaler Heagy Foods in Lancaster, Pa.; Mediterranean food business Jerusalem Foods in Dearborn, Mich.; and the cheese cutting and packaging business of distributor Jim’s Cheese in Waterloo, Wis.

“Lipari is an impressive platform that has grown significantly over the years by expanding upon its midwestern roots,” said Justin Reyna, managing director at H.I.G. “We are very excited to partner with the Lipari management team, which has a proven track record of profitable growth. The company’s significant customer value proposition, diverse product portfolio and unparalleled distribution capabilities uniquely position it to capitalize on growth opportunities within the food distribution, import and manufacturing markets.

“We look forward to supporting Lipari and investing in both organic and acquisition-driven growth in its next stage of evolution,” Reyna added.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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