Lariat Partners has recapitalized Huntingdon Valley, Pennsylvania-based LaMi Holdings LLC, a provider of non-edible, general merchandise impulse items to groceries and other retail channels. No financial terms were disclosed.
DENVER (Sept. 24, 2015) – Lariat Partners, a Denver-based private equity firm, has announced the recapitalization of LaMi Holdings, LLC, (LaMi), the leading distributor and merchandiser of non-edible, general merchandise impulse items to grocery and other retail channels.
Lariat is providing the necessary growth capital to help LaMi complete its new state-of-the-art automated warehouse, improve sourcing, fund expansion-related expenditures and pursue growth opportunities. Headquartered in Huntingdon Valley, Pa., LaMi services blue chip grocery and other retail customers throughout the United States. The company’s co-Chief Executive Officers are Larry Dion and Michael Dion.
“Our new state-of-the-art warehouse and robotic pick-n-pack system will enable us to continue our growth while providing just-in-time inventory to customers” said Larry Dion. “The partnership with Lariat and the recapitalization effort will play a key role in helping us replicate this automated warehouse operation on the west coast in the near future.”
LaMi’s impulse items typically retail for less than $9.99 and are cross merchandised throughout a grocery or retail store. By positioning ice cream scoops adjacent to freezers, or pet toys adjacent to pet food for example, LaMi’s vast product offering enhances sales and margin for retailers while adding convenience for consumers. With more than 800 field merchandisers, broad product offering, product design and sourcing expertise, customer service focus and strong management team, LaMi is well-positioned to further expand its retail service solutions throughout North America.
“Our Partnership with Lariat allows LaMi to fuel efficiency in filling customer needs,” said Michael Dion. “The entire process from product sourcing, order fulfillment, and store level merchandising will be enhanced with the ultimate goal of benefiting our customers.”
Jay Coughlon, Managing Partner for Lariat Partners, said, “LaMi provides an incredible value proposition to its customers that we believe is only going to improve as the grocery industry seeks new sources of revenue. Larry, Michael and the LaMi team have proven their ability to execute throughout their long entrepreneurial history, and we are excited to help them continue achieving their vision.”
About Lariat Partners
Denver-based Lariat Partners is a private equity firm focused on redefining the private equity experience with entrepreneurs in the lower-middle market. With its People First, Strategy Second relationship philosophy and its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring REvenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses. The firm targets companies across a number of industries, including Specialty Agriculture, Energy & Environmental Services, Consumer Products and Maritime Services. For more information, visit www.lariatpartners.net.