| FAIRMOUNT FOOD GROUP ACQUIRES ADVANTAGE INTERNATIONAL |
| DALLAS, Texas – Bing Graffunder, CEO of Fairmount Food Group, LLC, today announced the acquisition of Advantage International Foods Corporation, a privately held importer and distributor of specialty cheese. The transaction significantly increases the portfolio of Fairmount, the United States’ largest importer and marketer of specialty and deli-style cheeses. Advantage Foods marks the sixth cheese industry acquisition for the Dallas-based investment firm and its equity sponsor, GTCR Golder Rauner, LLC.
“The addition of Advantage International to our acquisitions of DCI Cheese Company, Swissrose, Carter Meister, Green Bay Cheese and G&G Foods is a very significant transaction and another step toward expanding our branded offerings and delivering our customers the very best products and service,” said Graffunder. “With this acquisition we are again increasing the size of our specialty cheese portfolio, deepening our U.S. presence from coast to coast and increasing our ability to more effectively serve our growing foodservice, retail and deli business.”
Founded in 1993, Advantage united forty plus years of collective expertise and relationships to form a competitive, flexible, professional source for cheese buyers seeking to fill the void left by the numerous consolidations and buyouts of the 1980's and early 1990's. Advantage will continue to operate under its own identity with founder Thomas Toto continuing in his leadership role for the company. Toto will report to Tim Omer, CEO of DCI Cheese Company, and will assume leadership of all DCI entities on the East Coast including Swissrose.
“We are extremely fortunate to be able to add the leadership of Tom Toto to our management team,” said Omer. “He brings a wealth of management expertise and industry innovation that will keep Advantage and Swissrose growing and prospering. He and his team will be a great benefit to DCI Cheese on the East Coast, as well as to all of our respective customers.”
“All of us at Advantage are thrilled to begin a new era with DCI, Swissrose and the Fairmount Food Group,” said Toto. “We look forward to leveraging our combined assets of great people, a sizeable import license portfolio, proven branded products, and innovative marketing and merchandising programs while honoring the traditions of a successful entrepreneurial philosophy.”
Strategically located in the metro New York area -- the major port of call for European cheese -- Advantage efficiently distributes over 1,000 products nationwide. Customers include supermarkets, specialty grocery chains, independent specialty stores and food service distributors. In addition to premium brands from around the world, Advantage also markets its own trademarked product lines of Maitre D', Bella Collina and Global Cheese Market.
The DCI Cheese Company, located in Richfield, WI, is a marketer and leading supplier of domestic and imported specialty cheeses; Swissrose sells imported and specialty cheeses including Chevrion goat cheese, Edam, Gouda, Greek feta and a number of cheeses from Spain; Green Bay Cheese Company, the largest deli cheese packager in the U.S., cuts, shreds, cubes, packages and labels cheese; and G&G Foods, located in Santa Rosa, CA, manufactures seven different product lines under the Goldy's®, Meza®, and La Torta® brands.
About Fairmount
Fairmount Food Group, LLC, was founded in 2003 by long-time partners and food industry veterans Bing Graffunder and Sam Hillin with $200 million in equity financing from GTCR Golder Rauner, LLC. The company is focused on transactions in growth segments of the food industry. Fairmount specifically targets opportunities in branded food, both retail and foodservice. More information about Fairmount can be found at www.fairmountfood.com.
About GTCR Golder Rauner
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.
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