Keiter Stephens Advisors announces the sale of Clover Mountain Foods in Bridgeville, Pennsylvania.January 21, 2015
Keiter Stephens Advisors is pleased to announce the sale of Clover Mountain Foods in Bridgeville, Pennsylvania to Lipari Foods of Warren, Michigan. Lipari purchased substantially all of the assets of Clover Mountain in a transaction that closed January 12, 2015.
Clover Mountain, located just outside Pittsburgh, services traditional broadline customers as well as grocery stores, delicatessens and bakeries across a six state area. It was purchased in 1994 by Behrhorst and Crawford, Ltd., a company managed by Jim Crawford. Mr. Crawford is an established industry veteran who sits on the boards of IFDA and UniPro. Behrhorst and Crawford, Ltd. also owns and will continue to operate Staunton Foods, another broadliner located in Staunton, Virginia.
“We have worked with Keiter Stephens Advisors from start to finish on the transaction” said Mr. Crawford. “I am grateful for Bill Beattie’s guidance and personal attention throughout the process. He and his team helped us achieve an outstanding result.”
Lipari Foods is the fastest growing “perimeter of the store and specialty” distributor in the mid west. The two companies have a similar product portfolio of local and national brands and share established relationships with many manufacturing partners. Longtime Clover Mountain executive, William Virgi, will continue to serve customers in his new role as a Lipari Regional Vice President of Sales.
This is the 25th transaction Keiter Stephens Advisors has completed in the foodservice distribution industry.
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 foodservice distribution 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 sale
- 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 90 foodservice distributors to resolve their most challenging business issues.
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