Keiter Stephens Advisors Announces the Sale of Staunton FoodsJanuary 17, 2017
Keiter Stephens Advisors (“KSA”) is pleased to announce the sale of Staunton Foods, LLC in Staunton, Virginia to A.F. Wendling, Inc. of Buckhannon, West Virginia.
Staunton Foods serves over 500 customers primarily in family dining, convenience stores, schools, ice cream stores and bakeries. The company delivers to eight states including Virginia, West Virginia, Maryland, Pennsylvania, Delaware, New Jersey, North Carolina and South Carolina.
Behrhorst and Crawford, Ltd. (“BCL”), a Pennsylvania based private equity firm, has owned Staunton Foods since 1994. BCL Chairman Jim Crawford commented: “We are delighted to be associated with the professionals at KSA. Bill Beattie and the KSA team have advised us for over a decade and helped us with both acquisitions and divestitures. This will be a great fit for the Wendling family and for our associates in Staunton.”
A.F. Wendling will retain all current employees and will continue operations in Staunton. Robert Anders, the current president, will continue to manage the Staunton operation.
A.F. Wendling has been in business for over 100 years and has grown to be the largest independent family owned broadliner in West Virginia. In addition to their foodservice distribution business, they also operate a USDA inspected meat processing business and offer a range of hand cut to order fresh meats.
President Chris Wendling remarked: “Bill Beattie called me with this opportunity last summer and the KSA group was quite helpful in keeping the deal on track and on time. We are excited to have Staunton Foods become part of our growing foodservice family.”
KSA served as the financial advisor to Staunton Foods. This is the sixth foodservice distribution transaction KSA completed in 2016 and its 32nd overall.
About Keiter Stephens Advisors
Keiter Stephens Advisors is the only financial advisory firm dedicated to the foodservice distribution industry. KSA is recognized as the national leader in assisting owners to:
- Buy or sell foodservice distribution, meat processing and produce companies
- Plan and execute transition strategies, including family buy out initiatives and third party sales
- Examine the profitability of their business and develop viable improvement programs
- Renegotiate existing financing arrangements and secure new lenders
- KSA has worked with the owners of over 120 foodservice distributors to resolve their most challenging business issues.