Family and founder-focused private equity firm Lindsay Goldberg has agreed to acquire a controlling interest in Golden State Foods, a US supplier to the foodservice and retail industries, doing so alongside the Wetterau family, who will maintain a significant ownership interest.
Following the transaction close, GSF will remain managed and operated from its headquarters in Irvine, California. Brian Dick will continue to serve as President and Chief Executive Officer and as a member of GSF’s board of directors.
GSF was established in 1947 and its core businesses include the processing and distribution of liquid products, protein products, produce products as well as dairy and beverage products. GSF employs more than 6,000 associates across 50 locations, supporting approximately 125,000 restaurants globally.
Eric Fry and Peter Nurnberg, Partners at Lindsay Goldberg, commented: “Lindsay Goldberg’s relationship-driven business building approach and longstanding experience in the quick and limited-service restaurant food supply chain make us uniquely positioned to partner with the Wetterau family and GSF management team. We have tremendous respect for GSF and its talented, dedicated associates and look forward to our partnership with the entire GSF family.”
GSF was advised by Rothschild & Co, while Lindsay Goldberg was advised by Harris Williams and Stifel.
