Combination Creates Preferred Provider of Smallwares and Supplies for Foodservice, Healthcare, Hygiene Industries
OKLAHOMA CITY, Oct. 3, 2023 /PRNewswire/ -- CFS Brands announced today that it has acquired The Foodware Group (TFG), creating a preferred provider of smallwares and supplies to the foodservice, healthcare, and hygiene markets, well positioned to capitalize on future growth opportunities. The transaction was completed October 2, 2023. Terms of the transaction were not disclosed.
The Foodware Group was formed through a strategic combination of G.E.T, which has a 40-year legacy of providing complete "front of house" solutions in dinnerware, drinkware, display, and buffetware; and Winco, a "one-source" supplier for tabletop, smallwares, janitorial, and countertop equipment. Through a commitment to customer-focused service, along with a unique strength in product development and sourcing, The Foodware Group has become an award-winning supplier partner for foodservice operators and distributors.
With the combination of CFS Brands and The Foodware Group, customers will have access to the broadest and deepest line-up of products and solutions to enhance their business, including Carlisle FoodService Products, San Jamar, Dinex, Winco, and G.E.T. brands, among others. Distributors and end users will be able to consolidate their purchases under a single supplier, reduce complexity in their operations, and lower their total costs.
"The acquisition of The Foodware Group is a transformational opportunity for CFS Brands," said CFS Brands CEO Trent Freiberg. "The Foodware Group joins a portfolio of businesses and brands that are leaders in their respective markets. CFS Brands and TFG are a great fit, and together we will build on our combined strengths and shared values to continue our track record of sustainable growth and exceptional results. We are excited to work with the leadership team at The Foodware Group, and we welcome all TFG employees to CFS Brands."
Jim White, CEO of The Foodware Group, said, "We have built a great company over the last few years that has driven strong growth and created many opportunities for our exceptional team. Our products and capabilities are a great complement to what CFS Brands offers, creating the opportunity to leverage the best of both. This is one of those rare situations where the complementary strengths of two companies create an opportunity to make one plus one equal three."
The Foodware Group Executive Vice President and President of Winco Elaine Shen added, "We see tremendous opportunities ahead of us to enhance our value and partnership to customers. While we will continue to deliver outstanding customer service, we will also develop greater depth in our product capabilities and strengthen our competitiveness to better serve foodservice, healthcare, hygiene, and international customers."
The integration process will be a gradual evolution that begins with taking needed time to develop a deep understanding of the businesses, brands, and teams, and the companies' respective strengths and opportunities. G.E.T. and Winco will each continue to operate as stand-alone entities within CFS Brands. Customers and suppliers will continue to interact with CFS Brands, G.E.T, and Winco as they have in the past.
Guggenheim Securities, LLC, is serving as financial advisor, and Winston & Strawn is serving as legal counsel to CFS Brands. Houlihan Lokey is serving as financial advisor, and Kirkland & Ellis is serving as legal counsel to The Foodware Group.
ABOUT CFS BRANDS
CFS Brands (www.CFSBrands.com) is a U.S.-based manufacturer of products for the foodservice, healthcare, and janitorial industries. CFS Brands operates Carlisle FoodService Products, Dinex, Sparta, El Castor, Jofel, Piper, San Jamar, Snap Drape, WipesPlus, Elite Global Solutions, and AyrKing brands globally. Based in Oklahoma City, OK, CFS Brands employs more than 1,600 people across its headquarters, six manufacturing locations, and seven distribution centers worldwide.
ABOUT THE FOODWARE GROUP
The Foodware Group (www.thefoodwaregroup.com) is a leading end-to-end provider of supplies to the foodservice industry, delivering the highest value solutions to all of its partners with uncompromised quality and exceptional service. The Foodware Group provides front-of-the-house and back-of-the-house supplies and smallwares for diverse foodservice applications. G.E.T. was founded in 1982 and Winco in 1992. The companies joined to form The Foodware Group in 2018. The company is headquartered in Lodi, N.J., and operates four warehouses throughout the U.S. (Lodi, NJ; Miami, FL; Houston, TX; and Las Vegas, NV) with nearly 450 team members and more than 800,000 square feet of total warehouse space.
SOURCE CFS Brands
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