Warren’s Lipari Foods Sold by H.I.G. Capital

Lipari Foods in Warren, a specialty food distributor, importer, and manufacturer serving independent and specialty grocers, national chains, and convenience stores, has been sold by its holding company, H.I.G. Capital in New York City, to an affiliate of Littlejohn & Co.
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Specialty food company Lipari Foods has been sold by its parent company. // Courtesy of Lipari Foods
Specialty food company Lipari Foods has been sold by its parent company. // Courtesy of Lipari Foods

Lipari Foods in Warren, a specialty food distributor, importer, and manufacturer serving independent and specialty grocers, national chains, and convenience stores, has been sold by its holding company, H.I.G. Capital in New York City, to an affiliate of Littlejohn & Co.

Terms of the transaction were not disclosed.

H.I.G. acquired Lipari Foods in January 2019 in partnership with the Lipari family and the company’s senior management team. Through numerous strategic initiatives, investments, and synergistic add-on acquisitions, Lipari achieved significant growth during H.I.G.’s ownership period, generating a strong return for its investors.

“H.I.G. has been an outstanding partner to Lipari Foods since their initial investment in 2019. H.I.G. added significant value to our business and our leadership team while supporting investments across the Company, all of which have strengthened our ability to deliver high-quality service to our customers and their communities.,” says Thom Lipari, CEO of Lipari Foods.

“As a result of our work together with H.I.G., Lipari Foods is larger, stronger, and more diversified today than it was four years ago. We are excited to partner with Littlejohn to support Lipari Foods’ next phase of growth, and are thrilled H.I.G. will remain a minority investor, highlighting their conviction in our long-term growth opportunities.”

Lipari Foods delivers more than 25,000 products across nine categories to approximately 10,000 customers and more than 15,000 retail locations throughout the Midwest and beyond.

“Thom and the Lipari Foods team have done an excellent job executing on strategic initiatives and growing the business,” says Justin Reyna, managing director at H.I.G. Capital. “We are proud to have partnered with the management team to strengthen the company’s leadership position in the specialty food distribution sector.”

Littlejohn & Co. is a private equity firm in Greenwich, Conn., that focuses on leveraged buyout transactions, leveraged recapitalizations of middle-market companies, and distressed securities. The firm focuses on companies requiring an operational turnaround particularly in a variety of industrial and service sectors.

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