Performance Food Group (PFG) is the new owner of Orion Food System Holdings LLC.
Richmond, Virginia-based PFG bought the Sioux Falls, South Dakota-based portfolio company and its related subsidiaries from private equity firm One Rock Capital Partners LLC, New York. The companies did not disclose the deal’s financial terms.
Orion, founded in 1983, is a provider and distributor of foodservice offerings to more than 1,500 convenience stores. It also serves co-manufacturing customers across the United States and abroad. Products include pizza, sandwiches and breakfast and snack solutions.
Orion has more than 240,000 square feet of manufacturing and warehousing space split between three locations in Sioux Falls; Milford, Iowa; and Kimball, Tennessee, according to Orion’s website.
Orion’s brands include Hot Stuff Kitchen, pcpizza, Papa Primo’s, Paavo’s Pizza, Day’N Night Bites and private-label solutions.
“We are excited to add OLM [Orion] Food Solutions to the PFG family of companies. By adding OLM’s expertise and portfolio of products, PFG will now be able to offer even more high-quality food solutions to customers in multiple market segments,” Scott Golden, a spokesperson for PFG, told CSP.
“Over the course of our investment, OLM [Orion] has grown substantially by innovating ways to better serve a growing customer base in the highly attractive convenience foodservice sector,” Kurt Beyer, partner at One Rock, said.
Added One Rock partner Jack Rosenberg, “In collaboration with our operating partners, OLM management expanded the business both organically and through acquisition. The company developed new food concepts and deployed value-added technology to enhance the consumer experience for convenience channel customers. As a result, we believe OLM is well-positioned to capitalize on further growth opportunities in its next chapter as a part of PFG.”
PFG last year acquired c-store distributor and foodservice provider Core-Mark, Westlake, Texas.
Performance Food Group is one of the largest food and foodservice distribution companies in North America with more than 150 locations in the United States and parts of Canada. PFG and its family of companies market and deliver food and related products to more than 300,000 locations including convenience stores.
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