West Lane Capital Partners LLC has acquired a majority stake in New York-based Non-Foods Marketing Corp, a national buying service for supermarket chains, drug stores, hardware stores, convenience stores and independent retailers. No financial terms were disclosed.
LOS ANGELES, Oct. 21, 2020 /PRNewswire/ — Private equity firm West Lane Capital Partners LLC (“West Lane”) has acquired a majority stake in Non-Foods Marketing Corp. (“NFM” or the ‘Company”), a national buying service for supermarket chains, drug stores, hardware stores, convenience stores and independent retailers as well as a developer and marketer of a wide variety of products sold under its Living Concepts brand. Based in New York, with customers and team members throughout the country, NFM currently partners with hundreds of customers and manufacturers specializing in high profit, quick turning general merchandise. Tony Gusta, the founder of NFM will continue to hold an ownership stake in the business and will retain his role as CEO of the Company. No material changes in the operations of the business are planned. Terms of the transaction were not disclosed. See www.nonfoodsmarketing.com
Nick Sternberg, Managing Partner of West Lane said: “We are very excited to partner with Tony and his team to continue growing the Company’s customer, product and vendor base and expanding the distribution channels both domestically and internationally. The range of products and services offered by the Company have attracted a large and loyal customer base and we are planning on launching various new and innovative products and services in the near future.”
“NFM and the Living Concepts brand has experienced strong growth over the past several years,” said Tony Gusta and “We are very pleased to have partnered with the West Lane team. Their expertise, experience and managerial talent will allow us to execute on the numerous growth channels that we have identified for the business.”
West Lane Capital Partners, LLC based in Los Angeles, CA is a private investment firm that partners with entrepreneurs and management teams to invest in lower middle-market companies. In addition to providing capital, West Lane is an actively engaged partner across the strategy, operations and finance functions within their portfolio businesses.