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Palm Beach Capital Invests in C-Store Distributor

Equity firm to work with J. Polep Distribution Service, Rachael’s Food LLC

WEST PALM BEACH, Fla. — Private-equity firm Palm Beach Capital Fund III LP has invested in Consumer Products Distributors LLC, doing business as J. Polep Distribution Services and Rachael’s Food LLC.

Chicopee, Mass.-based J. Polep has been in the business for more than 120 years and offers product lines such as fresh sandwiches, salads and grocery items. It has added programs and value-added services to better serve convenience-store retailers, according to Palm Beach Capital. It has more than 6,000 U.S. customers and services them from its centers in the Northeast.

The companies did not disclose the financial terms of the deal. Business will run as usual at J. Polep, said Eric Polep, president and CEO.

“We are excited about the future growth of J. Polep Distribution Services and our partnership with Palm Beach Capital,” Polep said. “Our focus will remain our steadfast dedication to the customers we service and to the products they deliver, with the goal of making sure each of our customers and vendors achieve long-term success.”

Palm Beach Capital’s strategy is to invest in solid management teams and assist in long-term strategic growth plans, said Mike Schmickle, partner with Palm Beach Capital.

“The management team at J. Polep and the family culture it exemplifies with its customers, vendors and employees embodies the values that we seek in a partner,” Schmickle said. “Having made our initial venture into the convenience distribution space in 2014 with our investment in New York-based Harold Levinson Associates, we have identified the industry as one that is uniquely positioned for growth and consolidation. J. Polep and HLA will both become independent members of our new convenience distribution division and we intend to add additional members in the future.”

West Palm Beach, Fla.-based Palm Beach Capital, founded in 2001, focuses on high-growth investment opportunities and partners with management teams in middle-market management buyouts, recapitalizations and growth equity investments.

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