Slate Capital Group has acquired Wythe-Will Distributing from JPB Capital Partners. No financial terms were disclosed. Wythe-Will is a Williamsburg, Va.-based distributor of gourmet specialty food and confections.
Wythe-Will Distributing, LLC (“Wythe Will” or the “Company”) is pleased to announce that Slate Capital Group has partnered with its management team to acquire the Company from an affiliate of JPB Capital Partners. Based in Williamsburg, VA and founded in 1961, Wythe Will is a leading value-added distributor of gourmet specialty food and confections. The management of Wythe Will, led by CEO Gordon Angles, will continue to run the operations of the Company and will lead the execution of the Company’s strategic growth plan.
In addition to its significant food and beverage experience, Slate Capital Group has some familiarity with the Company. Parker Davis, a Partner at Slate Capital, served as the Company’s Chairman while he was a Managing Director at JPB Capital Partners. Commenting on the investment, Mr. Davis stated, “Wythe Will is a stalwart company in specialty food distribution. We are very excited to continue working with Gordon Angles and his outstanding management team. The rich experience they bring to bear is very valuable in this niche industry as we look to continue expanding our presence and our customer base.” Mr. Angles commented,
“Parker and his partners, Erik Ginsberg and Rick Corcoran, have a strong combination of industry experience
and operational resources. We look forward to working with them and accessing their expertise as we grow organically and through strategic acquisitions in the coming years.”
Slate Capital Group made the acquisition through the formation of a new equity investment entity and financing from Wells Fargo Business Credit.
About Wythe Will Distributing
Wythe Will Distributing is a value-added distributor of branded and private label packaged gourmet food and confections. Based in Williamsburg, VA, Wythe Will is known for sourcing high quality, hard to find products for its alternative retail, premium grocery, and hospitality customers. Established in 1961, the Company has grown to be one of the largest and most reputable players in the specialty food distribution category. Wythe Will offers its customers a selection of approximately 4,700 everyday SKUs from over 400 domestic and international specialty food companies, which include well-known brands such as Ghirardelli, Godiva, Jelly
Belly and Harry & David, as well as an additional 2,000 SKUs of seasonal items for the Valentine’s Day, Easter, Halloween and Christmas seasons.
About Slate Capital Group
Slate Capital Group is a leading private equity investment group based in Baltimore, Maryland that invests at all stages of a company’s life cycle, from growth equity investing to leveraged buyouts, and is focused on companies headquartered in the Mid-Atlantic region. The principals of Slate Capital have significant experience in both running small-to-mid-sized companies and investing in venture capital and leveraged buyout transactions. Slate Capital’s primary areas of focus include business services, direct marketing, healthcare services, for-profit education, niche software and consumer and retail investments. Additional information can be found at www.slatecap.com.