Diversified Foodservice Supply, a KRG Capital Partner portfolio company, has acquired Mill Hardware & Food Service.
Mill Hardware is a distributor of foodservice parts, supplies, and accessories to national chain restaurants and their associated franchisees. Mill Hardware is headquartered near Cleveland in Willoughby, OH (www.millhardware.com).
Diversified Foodservice Supply (DFSI) is a distributor of parts, supplies, equipment, and accessories used in the foodservice industry. The company services many markets including restaurant equipment and supplies dealers, service agencies, restaurants, national chains, and institutions. The company is headquartered in Mt. Prospect, IL and manages its more than 100,000 SKUs through six distribution facilities located across the United States (www.allpointsfps.com). KRG Capital Partners acquired DFSI in December 2010.
The addition of Mill Hardware to the DFSI portfolio adds scale to the organization and improves the customer offering for chain restaurants and their associated franchisees. Mill Hardware will continue to operate as a brand in the combined company and joins other DFSI brands such as AllPoints Foodservice Parts and Supplies, Franklin Machine Products, and Tundra Restaurant Supply.
“Mill Hardware is recognized in the industry as a superior service provider and is clearly focused on the needs of its national chain restaurant and franchisee customers. The combination of Mill Hardware with our other brands will create significant advantages including a broader distribution footprint and a much more robust product offering, which will benefit all of our valued customers,” said Mike Cate, CEO of DFSI.
KRG Capital specializes in acquiring and recapitalizing unique and profitable middle-market companies. Since inception, KRG has invested in 45 platform companies and has completed 146 add-on acquisitions for those platforms. Founded in 1996, KRG has over $4 billion of capital under management and is based in Denver (www.krgcapital.com). The acquisition of Mill Hardware represents the 191st investment completed by KRG since its inception.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-30-14
