San Francisco Investment Firm Acquires Warren’s Lipari Foods

Warren’s Lipari Foods has been acquired by H.I.G. Capital in California. // Photograph Courtesy of Lipari Foods

San Francisco investment firm H.I.G. Capital has acquired Warren’s Lipari Foods from Connecticut-based Sterling Investment Partners and other unnamed shareholders. Terms of the transaction were not disclosed.

Founded in 1963, Lipari has 1,500 employees and is a leading distributor of perimeter-of-the-store, specialty, and branded food products. It serves more than 13,000 retail locations in 14 states throughout the Midwest and beyond. H.I.G. says it is partnering with the Lipari family and the current management team to grow the company’s distribution and manufacturing platform.

Lipari’s more than 25,000 products are found in the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic, and organic categories, including a wide selection of largely perishable on-trend, perimeter-of-the-store, and specialty products. It generates approximately $1 billion in net sales annually, serving customers from its 725,000-square-foot distribution and food manufacturing facility in Warren.

“The company continues to have numerous opportunities to expand and H.I.G.’s experience and resources will help us continue our successful growth trajectory,” says Thom Lipari, president and CEO of Lipari. “We remain committed to providing outstanding service to our longstanding, blue-chip customers.”

Justin Reyna, managing director at H.I.G., adds, “Lipari is an impressive platform that has grown significantly over the years by expanding upon its midwestern roots. The Lipari management team 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.”

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