GORDON FOOD SERVICE® ANNOUNCES AGREEMENT TO ACQUIRE MACGREGORS MEAT & SEAFOOD LTD.

Acquisition Diversifies and Expands Gordon Food Service Brands and Offerings

GRAND RAPIDS, Mich., Feb. 11, 2022 /PRNewswire/ -- Gordon Food Service^® today announced it has entered into a definitive agreement to acquire Macgregors Meat & Seafood Ltd, a leading Canadian supplier to foodservice, retail, and private label customers coast to coast. The acquisition will diversify and expand Gordon Food Service's customer offerings through new food categories and new retailers. Upon the transaction's completion, Macgregors will operate as a Specialty Company of Gordon Food Service.

With roots dating back to 1834, in Toronto's historic St. Lawrence Market, Macgregors is one of Canada's longest standing independent family-owned purveyors. The company's operations include state-of-the-art dedicated raw and cooked facilities, new office and innovation center space, and a popular, adjacent store open to the public. Its brand partnerships include Certified Angus Beef®, 44th Street®, Niman Ranch® and Jail Island Salmon®.

"We are excited to welcome Macgregors employees and its brands to the Gordon Food Service family," said Gordon Food Service^® President and CEO Rich Wolowski. "Macgregors is among the most respected in the marketplace and like Gordon Food Service, Macgregors operates with a people-focused culture. We expect our cultural similarities will make for a smooth transition for both our customers and employees."

Macgregors President and General Manager Duncan Macgregor Jr. shared, "As our family contemplated Macgregors' future strategic direction in the Canadian foodservice and retail landscape, we identified key important factors in selling the business. This included shared values, vision, passion for the business, and seamless opportunity for our staff. We've come to respect and admire the similarities with the Gordon family and anticipate an exciting future as part of the Gordon Food Service group of Specialty Companies."

The closing of the transaction is subject to regulatory approval under the Competition Act (Canada) and other customary closing conditions.

About Gordon Food Service

For 125 years, Gordon Food Service has delivered uncompromising quality and heartfelt service for our customers. Beginning as a simple butter-and-egg delivery service, we've grown to become the largest family business in the foodservice industry by upholding the same approach since 1897—remaining passionately committed to the people we serve. Today, we serve foodservice operators in the Midwest, Northeast, Southeast, and Southwest regions of the United States and coast-to-coast in Canada. We also operate more than 170 Gordon Food Service Store locations in the U.S. By partnering with organizations from across industries—healthcare to education, independent and chain restaurants, and event planners—we help our customers create food experiences that people choose, enjoy, and remember.

About Macgregors Meat & Seafood Ltd.

With roots dating back to 1834 in Toronto's historic St. Lawrence Market, Macgregors Meat & Seafood Ltd. spans seven generations of continual family ownership, most recently now in its third generation of the Macgregor family (since 1949). We recognize that our continued success lies with Our People and our culture – a foundation that has enabled us to attract and retain great people. Dedicated true Centre-of-the-plate-Specialists™, we've grown partnerships alongside some of the most respected and progressive brands in the marketplace. We believe we can only get to the point of being Our Customers First Choice by delivering on our unique strengths: A culture of Core Values, independent family ownership, and capacity to deliver as a single source for high volume, high quality, raw and cooked meat and seafood. Our Tradition of Excellence since 1949™ has Macgregors operating out of Toronto in three distinct and dedicated, CFIA inspected, raw and cooked facilities serving the foodservice, retail, and private label Canadian food landscape coast to coast."

Contacts:

For Gordon Food Service, [email protected] or [email protected]

For Macgregors Meat & Seafood Ltd., [email protected]

SOURCE Gordon Food Service