Harris Williams Advises Lancaster Foods on its Sale to The Coastal Companies
February 19 2020 - 12:06PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Lancaster
Foods, a subsidiary of Guest Services, Inc. (Guest Services), on
its sale to The Coastal Companies, a portfolio company of
Continental Grain’s Arlon Group (Continental Grain). Lancaster
Foods is a leading diversified produce wholesaler. The transaction
was led by Tim Alexander, Brant Cash, Brant Wilczek and Robert
Wilson of the Harris Williams Consumer Group.
“Lancaster Foods is a leader in providing high-quality produce
with premier customer service, and has tremendous opportunity for
continued growth with The Coastal Companies and Continental Grain,”
said Tim Alexander, a managing director at Harris Williams. “The
combination represents an exciting phase for both businesses and
will create a regional leader in both foodservice and wholesale
distribution.”
“We are thrilled to have worked with Guest Services and
Lancaster Foods on this transaction, which adds to our firm’s track
record of advising leading food distributors,” said Brant Cash, a
managing director at Harris Williams. “We are excited to see
Lancaster Foods and The Coastal Companies come together and create
a partnership that will draw upon the strengths of each company and
position them for long-term success.”
Founded in 1986, Lancaster Foods operates a 220,000-square-foot,
state-of-the-art distribution and processing center in Jessup,
Maryland. With nearly 600 employees, the company remains a leading
diversified produce wholesaler, whose value-added services set it
apart. From consumer-ready packages to specialty packaging to
fresh-cut offerings, Lancaster Foods delivers innovative,
customized solutions that meet the specific needs of its customers
and consumers.
Since 1917, Guest Services has provided premier hospitality
management in the United States. The company is proud to provide a
wide range of customized hospitality management solutions for
clients involved in dining services; resorts and hotels; state and
national parks; senior living communities; unique retail outlets;
special events; and condominium management. Guest Services stands
at the forefront of the hospitality management industry, providing
the highest quality lodging and leisure services for its clients
and guests. Guest Services is proud to serve more than 40 million
guests annually at over 350 properties nationwide.
Founded in 1992, The Coastal Companies is a preeminent source
for produce distribution, processing and prepared foods on the East
Coast. The Coastal Companies and its subsidiaries—Coastal Sunbelt
Produce, East Coast Fresh, Hearn Kirkwood and Lancaster Foods—offer
a portfolio of premier products and services in the marketplace and
in the industry. The company operates 650,000 square feet of
refrigerated space across four facilities and has in-house
logistics capabilities that provide unparalleled reach from Maine
to Florida.
Continental Grain is a privately-owned global investor, owner
and operator of companies with more than 200 years of history
across the food and agribusiness spectrum. Continental Grain
focuses on building platforms that leverage its expertise in food
production, processing and distribution to create enduring value
and a sustainable, efficient and nutritional food supply chain.
Continental Grain made this investment together with a group of
industry partners which includes Rabo Corporate Investments, the
investment arm of Rabobank, a leading bank to the global food,
beverage and agribusiness industries.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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Katie Langemeier, associate brand manager, +1 (804) 648-0072
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