Vestar Capital Partners (Vestar), a US middle-market private equity firm, has completed the sale of Edward Don & Co (DON), a distributor of foodservice equipment and supplies, to Sysco Corporation. Terms of the transaction have not been disclosed.
Over the course of Vestar’s investment, DON expanded its footprint, secured significant new customers, and grew revenue and earnings. DON will now operate as a standalone specialty division within Sysco, with CEO and President Steve Don continuing to manage the business alongside DON’s leadership team.
JP Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar. Kirkland & Ellis LLP served as legal advisor to Edward Don & Company and Vestar.