PE-backed IF&P acquires Cibus Fresh

IF&P Foods LLC, a portfolio company of Rotunda Capital Partners, has acquired Cibus Fresh, Indiana-based food service company. No financial terms were disclosed.

PRESS RELEASE

BETHESDA, Md.–(BUSINESS WIRE)–Rotunda Capital Partners, LLC (“Rotunda”) a lower middle market private equity firm that specializes in investing in founder/family-owned lower middle market distribution, specialty finance, business services and logistics businesses, announced that IF&P Foods LLC (“IF&P” or the “Company”) acquired Cibus Fresh on July 31, 2018. Terms of the transactions were not disclosed.

Cibus Fresh is an Indiana-based food service company specializing in high-quality made-to-order packaged convenience foods. The acquisition will accelerate the growth of IF&P by expanding its convenient grab-and-go offerings to include chef curated sandwiches, wraps, flatbreads, salads, snack packs and parfaits cups. It will also provide an 11,000-square-foot state-of-the-art FDA and USDA inspected kitchen facility certified with the Federal Grant of Inspection to ensure optimum food safety and regulation.

IF&P Foods formed in 1997 through the merger of Indianapolis Fruit (founded 1947) and Piazza Produce (founded 1970), two leading produce distribution companies with a combined 118 years of experience serving the grocery and food service industries. Garden Cut, a fresh cut processing company, and leading food service produce distributors, Circle City Produce and Papania Produce, complete the IF&P group of companies. The company has grown to include a fleet of over 340 refrigerated trucks servicing over 14 states in the Midwest and beyond from five facilities totaling over 225,000 square-feet of warehouse space. Today, IF&P is a category leader in providing both the food service and retail industries with fruit, vegetables, dairy, and floral products.

About Rotunda Capital Partners
Rotunda Capital Partners is a private equity firm that invests equity capital in established and profitable lower middle-market companies. As an independent deal sponsor, Rotunda Capital raises and invests the capital of its principals, institutions, family offices, and high net worth individuals on a deal-by-deal basis. The firm uses a rigorous approach to identify market-leading companies with identifiable growth opportunities and capable management teams in targeted sectors, including distribution, logistics, financial services, and business services. Rotunda Capital partners with industry-leading operating executives to grow each portfolio company. Since 2009, Rotunda Capital has completed 10 platform investments and realized four exits. The partners of Rotunda Capital actively provide guidance and draw on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com.