Diversified Foodservice Supply, Inc. Acquires Mill Hardware & Food Service, Inc.
Denver, CO (January 29, 2014) Diversified Foodservice Supply, Inc. (DFSI), a KRG Capital Partners Fund IV (KRG) portfolio company and the parent company of leading brands in the foodservice parts, supplies, equipment, and accessories distribution industry, has acquired Mill Hardware & Food Service, Inc., one of the industry’s most well-known and respected companies. The addition of Mill Hardware to the DFSI portfolio adds scale to the organization and improves the customer offering for chain restaurants and their associated franchisees. Mill Hardware will continue to operate as a leading brand in the combined company and joins other DFSI brands AllPoints Foodservice Parts and Supplies, Franklin Machine Products (FMP), and Tundra Restaurant Supply as major brands owned by DFSI.
“Mill Hardware is recognized in the industry as a superior service provider and is clearly focused on the needs of its national chain restaurant and franchisee customers. The combination of Mill Hardware with our other brands will create significant advantages including a broader distribution footprint and a much more robust product offering, which will benefit all of our valued customers”, stated Mike Cate, CEO of DFSI.
DFSI is a portfolio company of KRG Capital Partners Fund IV that was acquired in December of 2010. The acquisition of Mill Hardware represents the 191st investment for KRG since inception.
About Diversified Foodservice Supply, Inc.: DFSI is the parent company of multiple brands focused on the distribution of foodservice parts, supplies, equipment, and accessories. The company services many markets including restaurant equipment and supplies dealers, service agencies, restaurants, national chains, and institutions. DFSI is headquartered in Chicago and manages operations in six distribution facilities and brand headquarters located across the United States. The combination of its geographic footprint, coupled with an expansive item profile of over 100,000 skus, enables DFSI to expedite delivery of products quickly to its valued customers.
About Mill Hardware & Food Service, Ince.: Mill Hardware is a leading distributor of foodservice parts, supplies, and accessories to national chain restaurants and their associated franchisees. Mill Hardware is headquartered in Cleveland, OH and operates in a single, centrally located distribution facility and corporate office.
About KRG: Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring majority interests in middle-market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG Capital seeks investment opportunities where we can partner with existing management teams that are committed to building a best-in-class industry leading companies. Since inception, KRG has invested in 45 platform companies and has completed 146 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.