Warburg Pincus agreed to make a strategic investment in GA Foods, which provides nutritional meals for healthcare and senior customers. The growth investment will support future strategic initiatives including investments in the healthcare sector and GA Foods’ manufacturing and logistics operations.
Warburg Pincus, a leading global private equity firm focused on growth investing, today announced that it has agreed to a strategic investment in GA Foods, a leading provider of nutritional meals serving healthcare and senior customers. The growth investment will support future strategic initiatives including continued investments in the healthcare sector and scaling the company’s manufacturing and logistics footprint.
Founded in 1973, GA Foods is a specialized maker of highly specified meals serving the unique needs of healthcare members, seniors, children, the military, and for disaster relief efforts. The Company’s services include meal design, food preparation & packaging, distribution, and integration with payor & provider systems for both home-delivered and congregate customers. These meals often contribute to these populations avoiding costly nursing home stays and hospital readmissions.
“At GA Foods, we are focused on two things: nourishing those in need and delivering assistance where and when it is needed. We are proud of what we have accomplished over the past four decades and we remain committed to providing nutritional meal solutions,” said Ken LoBianco, Co-Founder and CEO, GA Foods. “We look forward to working with Warburg Pincus as we continue to provide innovative solutions for our customers.”
“We are excited by this investment and the opportunity it will provide to strengthen and grow our product offering, capabilities and network, enabling us to deliver more meals to more people in need,” added Glenn Davenport, President, GA Foods. “Warburg Pincus shares our vision of driving GA Foods to become a leader in healthcare and senior care and we believe the firm is the ideal partner to support us in our next chapter.”
“Ken and Glenn have built an exceptional mission-driven, dynamic company serving the nutritional needs of multiple populations across the United States,” said Stephanie Geveda, Managing Director, Warburg Pincus. “Warburg Pincus is honored to partner with GA Foods as they embark on this next chapter and we look forward to working with the management team to accelerate the company’s growth and address the growing healthcare market opportunity.”
Warburg Pincus’ investment in GA Foods underscores its long-standing thesis around value-based healthcare and food services, as illustrated by the firm’s current and historical investments in Alignment Healthcare, Summit-CityMD, Hygiena, Aramark, Grubhub, Trimark and A Place for Mom.
JMP Securities LLC acted as financial advisor and Burns & Levinson LLP served as legal advisor for GA Foods. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor for Warburg Pincus.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $53 billion in private equity assets under management. The firm’s active portfolio of more than 185 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $84 billion in over 900 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.
About GA Foods
Headquartered in St. Petersburg, Fla., GA Foods has been preparing and delivering meals to older adults since 1973. GA Foods is committed to providing a cost-effective solution for health plans to provide healthy meals for Medicare and Medicaid enrollees. For more information, please visit www.GAFoods.com.