Private equity firm Kainos Capital has announced the sale of US speciality foodservice distributor, Ferraro Foods, to funds managed by Kelso & Company.
Headquartered in Piscataway, New Jersey, Ferraro Foods primarily serves the Italian restaurant and pizzeria segment in the eastern US.
The company sources over 7,000 products from around the world and supplies more than 6,000 end customers.
Michael Giammarino, CEO of Ferraro Foods, said: “The Kainos team helped us grow our footprint, adding four new centres and expanding into key markets including New England and Florida.”
He added: “Kainos’ ability to work with founder owners and their appreciation for the importance of culture and heritage during the commercialisation of the business allowed us to scale naturally and drive synergies through to strong financial performance.”
The financial terms of the sale have not been disclosed.
© FoodBev Media Ltd 2020
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