Harris Williams Advises Lancaster Foods on its Sale to The Coastal Companies – Business Wire

Harris Williams Advises Lancaster Foods on its Sale to The Coastal Companies  Business Wire

RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Lancaster Foods, a subsidiary of Guest Services, Inc. (Guest Services), on its sale to The Coastal Companies, a portfolio company of Continental Grain’s Arlon Group (Continental Grain). Lancaster Foods is a leading diversified produce wholesaler. The transaction was led by Tim Alexander, Brant Cash, Brant Wilczek and Robert Wilson of the Harris Williams Consumer Group.

“Lancaster Foods is a leader in providing high-quality produce with premier customer service, and has tremendous opportunity for continued growth with The Coastal Companies and Continental Grain,” said Tim Alexander, a managing director at Harris Williams. “The combination represents an exciting phase for both businesses and will create a regional leader in both foodservice and wholesale distribution.”

“We are thrilled to have worked with Guest Services and Lancaster Foods on this transaction, which adds to our firm’s track record of advising leading food distributors,” said Brant Cash, a managing director at Harris Williams. “We are excited to see Lancaster Foods and The Coastal Companies come together and create a partnership that will draw upon the strengths of each company and position them for long-term success.”

Founded in 1986, Lancaster Foods operates a 220,000-square-foot, state-of-the-art distribution and processing center in Jessup, Maryland. With nearly 600 employees, the company remains a leading diversified produce wholesaler, whose value-added services set it apart. From consumer-ready packages to specialty packaging to fresh-cut offerings, Lancaster Foods delivers innovative, customized solutions that meet the specific needs of its customers and consumers.

Since 1917, Guest Services has provided premier hospitality management in the United States. The company is proud to provide a wide range of customized hospitality management solutions for clients involved in dining services; resorts and hotels; state and national parks; senior living communities; unique retail outlets; special events; and condominium management. Guest Services stands at the forefront of the hospitality management industry, providing the highest quality lodging and leisure services for its clients and guests. Guest Services is proud to serve more than 40 million guests annually at over 350 properties nationwide.

Founded in 1992, The Coastal Companies is a preeminent source for produce distribution, processing and prepared foods on the East Coast. The Coastal Companies and its subsidiaries—Coastal Sunbelt Produce, East Coast Fresh, Hearn Kirkwood and Lancaster Foods—offer a portfolio of premier products and services in the marketplace and in the industry. The company operates 650,000 square feet of refrigerated space across four facilities and has in-house logistics capabilities that provide unparalleled reach from Maine to Florida.

Continental Grain is a privately-owned global investor, owner and operator of companies with more than 200 years of history across the food and agribusiness spectrum. Continental Grain focuses on building platforms that leverage its expertise in food production, processing and distribution to create enduring value and a sustainable, efficient and nutritional food supply chain. Continental Grain made this investment together with a group of industry partners which includes Rabo Corporate Investments, the investment arm of Rabobank, a leading bank to the global food, beverage and agribusiness industries.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Consumer Group has completed more than 60 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on the Harris Williams Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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Source: businesswire.com

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