Whitsons Culinary Group, a portfolio company of GenNx360 Capital Partners, has acquired Arbor Management.
Arbor provides food management services to public K-12 school districts and higher education markets in Illinois and Wisconsin. The company’s capabilities include food safety, menu planning, staff training, wellness programs, procurement, and inventory management. Arbor, led by President Jack Bortko, was founded in 1986 and is headquartered near Chicago in Itasca, Illinois.
Whitsons Culinary Group provides food services to schools, healthcare facilities, residential communities, and businesses. The company’s services include meal programs, ingredient sourcing, food preparation, delivery, consulting, and operational support. Whitsons, headquartered on Long Island in Islandia, New York, was founded in 1979 and acquired by GenNx360 in August 2021.
Under GenNx360 ownership, the buy of Arbor is Whitsons’ third add-on acquisition. It follows the acquisition of Pennsylvania-based Lintons Food Service in August 2022 and New Hampshire-based Fresh Picks Café in February 2024.
According to Food Management Magazine, Whitsons is now the 16th largest food service management company and ranks among the largest K-12 food service operators in the United States.
The United States food service management industry is projected to expand at a compound annual growth rate (CAGR) of around 5% over the next five years. This growth is driven by increasing demand for outsourced food services in schools, healthcare facilities, and other sectors, fueled by a growing emphasis on health and nutrition. Whitsons’ acquisition of Arbor positions the company to capture a larger share of this expanding market, particularly in the Midwest, where it has previously had a limited presence.
“We are pleased to welcome Arbor to Whitsons’ family of companies and expand our services into new communities throughout the Midwest,” said Paul Whitcomb, the president and CEO of Whitsons. “The combined strength of our two organizations provides a natural fit for us to further deliver on our mission of Enhancing Life One Meal at a Time™ together.”
“Whitsons’ strong leadership is once again demonstrated in the identification of a great asset in Arbor and their management team. We look forward to delivering great food to school children in Illinois and Wisconsin,” said Daphne Dufresne, a managing partner at GenNx360.
GenNx360 invests from $25 million to $100 million in North America-based companies that have revenues from $50 million to $500 million and EBITDA from $5 million to $35 million. Sectors of interest include business-to-business services and manufacturing. Since its founding in 2006, New York City-headquartered GenNx360 has acquired 28 platforms and 75 add-on acquisitions.
© 2024 Private Equity Professional | August 16, 2024
