Warburg Pincus makes growth investment in GA Foods
Warburg Pincus has agreed to make a strategic investment in GA Foods, a provider of nutritional meals serving healthcare and senior customers.
The growth investment will support future strategic initiatives including continued investments in the healthcare sector and scaling the company’s manufacturing and logistics footprint.
Founded in 1973, GA Foods is a specialised maker of highly specified meals serving the unique needs of healthcare members, seniors, children, the military, and for disaster relief efforts. The Company’s services include meal design, food preparation & packaging, distribution, and integration with payor & provider systems for both home-delivered and congregate customers. These meals often contribute to these populations avoiding costly nursing home stays and hospital readmissions.
“At GA Foods, we are focused on two things: nourishing those in need and delivering assistance where and when it is needed. We are proud of what we have accomplished over the past four decades and we remain committed to providing nutritional meal solutions,” says Ken LoBianco, Co-Founder and CEO, GA Foods. “We look forward to working with Warburg Pincus as we continue to provide innovative solutions for our customers.”
“We are excited by this investment and the opportunity it will provide to strengthen and grow our product offering, capabilities and network, enabling us to deliver more meals to more people in need,” adds Glenn Davenport, President, GA Foods. “Warburg Pincus shares our vision of driving GA Foods to become a leader in healthcare and senior care and we believe the firm is the ideal partner to support us in our next chapter.”
“Ken and Glenn have built an exceptional mission-driven, dynamic company serving the nutritional needs of multiple populations across the United States,” says Stephanie Geveda, Managing Director, Warburg Pincus. “Warburg Pincus is honoured to partner with GA Foods as they embark on this next chapter and we look forward to working with the management team to accelerate the company’s growth and address the growing healthcare market opportunity.”
Warburg Pincus’ investment in GA Foods underscores its long-standing thesis around value- based healthcare and food services, as illustrated by the firm’s current and historical investments in Alignment Healthcare, Summit-CityMD, Hygiena, Aramark, Grubhub, Trimark and A Place for Mom.
JMP Securities LLC acted as financial advisor and Burns & Levinson LLP served as legal advisor for GA Foods. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor for Warburg Pincus