One Rock Builds C-Store Foodservice Giant

Orion Food Systems, a portfolio company of One Rock Capital Partners since January 2015, has acquired Land Mark Products.

Land Mark is a manufacturer and distributor of pizza crusts and doughs, frozen pizzas, calzones and sandwiches to the convenience store, foodservice and restaurant sectors.

Company-owned brands include Piccadilly Circus Pizza and Day’N Night Bites. Land Mark was founded in 1977 and is headquartered in Milford, IA (www.lmpinc.com).

Orion is a manufacturer and distributor of food products to the convenience and specialty retail sectors in more than 40 states. The company’s products include ingredients, pre-made entrees, and snacks that are sold under a variety of brands, including Hot Stuff Pizza, Gourmet Grub, Chix Chicken, CHOPZ, Paavo’s Pizza, and Papa Primo’s Italian Kitchen. Orion was founded in 1983 and is headquartered in Sioux Falls, SD, with an additional facility in Kimball, TN (www.orionfoods.com).

“We are committed to building the leading foodservice company serving the convenience channel, and the combination of Orion and Land Mark is a significant step forward in that journey,” said Scott Spielvogel, a managing partner with One Rock.

“We are delighted to unite two longstanding businesses with such well-known brands in this strategic partnership,” said Frank Orfanello, an operating partner at One Rock and chairman of the board of Orion. “As a combined business, we will be able to offer a tailored solution to meet the needs of convenience store operators, from turnkey foodservice franchises that include equipment and post-sale consulting, to custom-designed programs for distributors.”

Land Mark owners Jason Farrell, chief executive officer, and Randy Johnson, executive vice president, will be investors in the newly combined company alongside Land Mark founder Rod Simonson. Messrs. Farrell and Johnson will continue in their positions with the company. “Joining forces with Orion and expanding our geographic footprint will allow us to serve as a fully comprehensive one-stop-shop for convenience store operators of all sizes and locations,” said Mr. Farrell. “We are pleased to provide a broader offering of high-quality products and foodservice solutions to more customers across more markets.”

One Rock invests in companies that are active in food manufacturing and distribution; chemicals and process industries; specialty manufacturing and healthcare products; and business and environmental services. One Rock has a strategic relationship with Mitsubishi Corporation which provides resources to One Rock and its portfolio companies.  The firm was formed in 2010 by Tony Lee and Scott Spielvogel and is based in New York (www.onerockcapital.com).

© 2019 Private Equity Professional | April 15, 2019

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