FOR IMMEDIATE RELEASE
March 26, 2012
PRIMESOURCE FOODSERVICE EQUIPMENT, INC.
SELLS BUSINESS SEGMENTS TO UNIFIED FOODSERVICE PURCHASING CO-OP ® (UFPC)
Fritzi Woods, Chairman of the Board of PrimeSource Foodservice Equipment, Inc.
(PrimeSource FSE) announced the sale of specific business segments to
Unified Food Purchasing Co-op, LLC (UFPC). Under the agreement,
UFPC Equipment Sales (a business division of UFPC) and its acquisition partners,
UFPC Smallwares Connection® and UFPC International Equipment Connection® will acquire
specific business segments of PrimeSource FSE, a leading foodservice equipment distributor
and logistics service provider to the quick service restaurant industry.
The acquisition will increase the overall efficiency and stability of the QSR
supply chain, bringing benefits to both corporate and franchise operators,
generating significant new business and revenue opportunities. The combination
will extend PrimeSource FSE's logistics capabilities and the reach of its service
model platform, while enhancing UFPC's existing portfolio of dynamic services.
Fritzi Woods, Chairman of PrimeSource FSE stated, "I am extremely proud of PrimeSource
FSE's transformation during the period of my ownership and grateful for the extraordinary
logistics capabilities that the dedicated employees and management team have built.
The ability to be part of one of the top ten food service equipment distribution companies
in the country while creating a culture where our team could personally grow has positively
impacted each team member, our customers and our industry. We are excited and confident
that our service model platform will continue to serve our valued customers and the long-term
future of the UFPC and its partners."
"We are very proud of what Primesource FSE has accomplished over the years for each of our clients.
We are also grateful to our employees who helped get us here," said Darren Anderson, President
and COO. "All our stakeholders can look back on our achievements and know that they have had a
hand in shaping the future of the industry," said Anderson.