Capstone Partners (Capstone), a leading investment banking firm, announced that it successfully advised Global Organic Specialty Source (Global) on its acquisition by Albert’s Organics (Albert’s), a wholly-owned subsidiary of United Natural Foods, Inc. (UNFI).
Founded in 1999 with primary operations located in Sarasota, Florida, Global is a premier distributor of organic produce in the Southeast United States. Over the past sixteen years, the founder, Mitch Blumenthal, built an impressive distribution company essentially from scratch. The company now sources products from over 200 farms and offers more than 350 different items.
The transaction process was more complicated than I ever imagined. I had a great team of advisors that helped me through it and I was very pleased with the outcome.
Founded in 1982, Albert’s is a leading distributor of organic produce and perishables throughout the United States. From their seven distribution centers, they are able to serve approximately 7,000 stores in North America. The acquisition of Global will expand Albert’s distribution presence in Florida, enhance relationships with customers and strengthen their strategic focus in the perishable sector.
The Capstone M&A team of Tom Elliott, Managing Director, and Shawn Keenan, Director, served as financial advisor to Global. The transaction marked the latest successful outcome for Capstone in the food and beverage sector. Regarding the transaction, Tom Elliott, commented, “Global recognized trends in the evolving food retail environment and built a vibrant business that connected with farmers and vendors alike. Their growth and success has been exceptional.” Shawn Keenan added, “We are very happy with the outcome for the owners of Global and the rest of their team. The combination of Global and Albert’s will add meaningful value to their existing customer relationships and expand overall distribution capabilities.”