Strategic Sale of Joe & Ross to GlacierPoint Enterprises Announced
Strategic Sale of Joe & Ross to GlacierPoint Enterprises Announced
XLCS Partners, Inc., a renowned name in the investment banking sphere, proudly announces their role as the exclusive advisor in the sale of Joe & Ross to GlacierPoint Enterprises. This significant transaction marks a new chapter for Joe & Ross, which will now function as the Great Lakes Division of GlacierPoint.
About the Parties Involved
Joe & Ross has emerged as a prominent player in the direct store delivery (DSD) landscape, specializing in frozen and refrigerated food products. Established in 1965, this company has developed a stellar reputation, collaborating with iconic brands such as Nestlé, Häagen-Dazs, and Ben & Jerry's. Their client base is diverse, encompassing retail chains, restaurants, and online food services, all within the Chicago-metro region.
GlacierPoint Enterprises Overview
GlacierPoint, a dominant force in DSD distribution, is recognized for its efficient logistics and dependable service. With operations covering a broad territory, GlacierPoint is the exclusive DSD distributor for renowned brands like Dreyer's Grand Ice Cream and Unilever, ensuring freshness and quality in the products they deliver.
Reflections on the Sale
Ross Purpura, co-owner of Joe & Ross, expressed mixed feelings about selling the family business after nearly 60 years, noting both the excitement and apprehension that accompany such a significant transition. He credited Bob Contaldo and the XLCS team for providing invaluable support throughout the process, ensuring that the sale was handled with care and precision.
Expert Guidance Throughout the Process
Bob Contaldo, Managing Partner at XLCS, reflected on the fulfillment that comes from representing family-run businesses. He remarked on the importance of finding a buyer who respects the legacy of the company while also looking forward to its growth potential.
Transaction Details
XLCS Partners not only facilitated this transaction but also led it with expert diligence. The transition was guided by Bob Contaldo and Senior Associate Matt Crabtree. The successful completion of this sale demonstrates XLCS’s commitment to supporting businesses in realizing their goals while ensuring a smooth transition.
About XLCS Partners, Inc.
XLCS Partners stands out as a dedicated investment banking firm, focusing on M&A advisory services for a select group of clients globally. Their commitment to service and expertise in the field continues to bolster their reputation as a trusted partner in complex transactions.
Frequently Asked Questions
What was the significance of the sale of Joe & Ross?
The sale to GlacierPoint Enterprises allows Joe & Ross to expand its operations while benefiting from GlacierPoint's extensive distribution network and expertise.
How did XLCS Partners assist in the transaction?
XLCS Partners acted as the exclusive advisor, guiding Joe & Ross throughout the sale process and ensuring they found a buyer who aligned with their values.
What brands does Joe & Ross distribute?
Joe & Ross distributes a variety of frozen and refrigerated food products, partnering with notable brands including Nestlé, Häagen-Dazs, and Edy's.
Where is GlacierPoint Enterprises headquartered?
GlacierPoint Enterprises is headquartered in The Bronx, New York, and is recognized as a leading DSD distribution and logistics platform.
Who were the key individuals in the transaction?
Bob Contaldo, Managing Partner, and Matt Crabtree, Senior Associate at XLCS, were instrumental in leading this successful transaction.
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