April 4, 2019
Orion Food Systems, LLC ("Orion") and Land Mark Products, Inc. ("Land Mark") today announced the signing of a definitive merger agreement to create a leading and fully comprehensive foodservice company to serve convenience store operators. Financial terms of the transaction, which is backed by an affiliate of One Rock Capital Partners, LLC ("One Rock") were not disclosed.
Founded in 1983, Orion is a manufacturer and distributor of food products as well as a provider of foodservice solutions to the convenience and specialty retail channels worldwide. The company supplies locations in the United States and abroad with a complete portfolio of foodservice solutions from ingredients to pre-made entrees and snacks under a variety of brands, including: Hot Stuff Pizza, Gourmet Grub, Chix Chicken, CHOPZ, Paavo's Pizza, and Papa Primo's Italian Kitchen. Orion is headquartered in Sioux Falls, South Dakota, with an additional facility in Kimball, Tennessee.
Land Mark is a manufacturer and distributor of pizza and sandwich solutions that has served the retail and foodservice industries since 1977. The company is a leading provider of pizza products to the convenience store industry, and has expanded its solutions into the grocery, private label, and other markets. Headquartered in Milford, Iowa, Land Mark manages the Piccadilly Circus Pizza and Day'N Night Bites brands.
"We are delighted to unite the two longstanding businesses with such well-known brands in this strategic partnership," said Frank Orfanello, Chairman of the Board of Orion. "As a combined business, we will be able to offer a tailored solution to meet the needs of convenience store operators, from turnkey foodservice franchises that include equipment and post-sale consulting, to custom-designed programs for distributors."
Land Mark owners Jason Farrell and Randy Johnson will be investors in the combined entity alongside Land Mark founder Rod Simonson and One Rock. Messrs. Farrell and Johnson will also continue in their leadership roles as President and Chief Executive officer and Executive Vice President of Finance and Distribution of Land Mark, respectively.
Mr. Farrell commented, "Joining forces with Orion and expanding our geographic footprint will allow us to serve as a fully comprehensive one-stop-shop for convenience store operators of all sizes and locations. We are pleased to provide a broader offering of high-quality products and foodservice solutions to more customers across more markets."
One Rock Managing Partner R. Scott Spielvogel added, "We are committed to building the leading foodservice company serving the convenience channel, and the combination of Orion and Land Mark is a significant step forward in that journey."
ABOUT ORION FOOD SYSTEMS, LLC
Orion is a manufacturer and distributor of food products and a provider of foodservice solutions to the convenience and complementary retail channels in the United States and abroad. The Company supplies hundreds of locations in over 40 states with a complete portfolio of foodservice solutions from ingredients to pre-made entrees and snacks. Orion is headquartered in Sioux Falls, South Dakota, and maintains an additional facility in Kimball, Tennessee. For more information, visit www.orionfoods.com.
ABOUT LAND MARK PRODUCTS, INC.
Land Mark Products has been operating, manufacturing and distributing pizza and sandwich solutions for the retail and foodservice industries since 1977. The company is a leading provider of pizza products to the convenience store industry, and has expanded its solutions into the grocery, private label, and other markets. It's brands include Piccadilly Circus Pizza and Day'N Night Bites, as well as private label foods for many others. For more information, visit www.lmpinc.com.
ABOUT ONE ROCK CAPTIAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.
Alex Jeffrey/Sam Fisher
Gasthalter & Co.