NEW YORK and CORAL GABLES, Fla., May 11, 2020 /PRNewswire/ -- Palladium Equity Partners, L.L.C. (along with its affiliates, "Palladium"), a middle market private equity firm with approximately $3 billion in assets under management, today announced that one of its affiliated private equity funds has backed Palladium's portfolio company Quirch Foods, LLC, a food distribution company servicing large and independent retailers across the United States, the Caribbean, and Central and South America, in its acquisition of Butts Foods, an industry leader in fresh protein distribution operating five distribution facilities in Tennessee, Alabama and Mississippi.
This is the first acquisition by Quirch Foods and represents the company's commitment to further expanding its geographic footprint following its recent distribution center opening in Greensboro, North Carolina.
"Butts Foods has been providing quality service to their customers for decades and it was a natural fit to our distribution footprint. Quirch Foods and Butts Foods will continue to focus on delivering exceptional service and support to our independent and national grocery customers with quality products including our company owned brands. We are excited to welcome the Butts Foods team to the Quirch Foods Family," said Frank Grande, President of Quirch Foods.
"This partnership represents a great opportunity for the team to continue to grow the business with more tools and support than ever before in our 85-year history. It also represents joining a company whose family values, history, culture, and vision are the same as ours," said R.E. Butts IV, President of Butts Foods.
Quirch Foods has been owned by affiliates of Palladium Equity Partners, LLC (collectively, "Palladium"), a middle market private equity firm with approximately $3 billion in assets under management, since 2018.
"The acquisition of Butts Foods by Quirch Foods is in line with our strategy as the company's management team continues to build Quirch into a leading distributor and exporter of protein and Hispanic food products in the U.S., with an enhanced presence in the Southeast," said Chris Allen, a Partner of Palladium. "We are pleased to support Quirch's enhancement of its platform with the Butts Foods acquisition and are excited to welcome its talented employees to the team."
About Palladium Equity Partners, L.L.C.
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 35 platform investments and over 135 add-on acquisitions. For more information on Palladium, please visit www.palladiumequity.com.
About Quirch Foods®:
Quirch Foods, founded in 1967 by the Quirch Family, is a food distribution company servicing large and independent retailers across the United States, the Caribbean, and Central and South America. With one of the most extensive portfolios of brands for a distributor of its type and size, Quirch operates six distribution facilities with over 700,000 square feet of refrigerated warehouse space and a fleet of more than 120 refrigerated trucks. Quirch Foods® is the exclusive distributor of Chiquita® Brands frozen Tropicals and Fruits, Panamei® Seafood, Kikiriquirch® poultry and Mambo® Foods. For more information, visit quirchfoods.com or follow us on Facebook, Twitter, Instagram, LinkedIn.
Visit www.quirchfoods.com or call (800) 458-5252.
About Butts Foods:
Butts Foods has a history of more than 85 years. Headquartered in Jackson, Tennessee, Butts Foods is a full-service protein distributor serving national and independent grocery stores and regional distributors in the Southeast and Midwest.
Visit www.buttsfoods.com or call (800) 962-8570.
For Quirch Foods, LLC
305-691-3535 ext. 2278
For Palladium Equity Partners
Todd Fogarty, Kekst CNC
SOURCE Palladium Equity Partners