Keiter Advisors Represents Cash-Wa Distributing In Their Acquisition Of FSA’s Fargo Location

Posted on September 11, 2019

Cash-Wa Distributing Acquires Food Services of America’s Fargo Location

Keiter Advisors (KA) acted as the exclusive financial advisor to Cash-Wa Distributing Co. (CWD) in its acquisition of the Fargo, ND location originally owned by Food Services of America. Fargo was one of three FSA facilities the Federal Trade Commission required US Foods to divest to gain approval of the overall USF / SGA Food Group transaction originally announced in July of 2018.

The Keiter Advisors team worked closely with CWD management to provide industry M&A expertise, as well as closely manage all aspects of the buy side process, including the negotiation and due diligence phases. KA worked with Cash-Wa and their antitrust counsel to prepare their FTC presentation and participated in the hearing.

Fargo becomes Cash-Wa’s third broadline distribution location joining their headquarters in Kearney, NE and their Aberdeen, SD location. With the addition of Fargo, Cash-Wa’s staff of 875 employees and fleet of 620 vehicles serve over 10,500 customers across 10 Great Plains states making them the largest family owned distributor in the upper mid-west.

Tom Henning, Cash Wa’s CEO commented, “Cash-Wa was a divesture buyer for the Fargo business – a process with far more complexity than an ordinary, outright purchase would have entailed. That in itself, made Keiter Advisors the right choice to assist us! Their entire team was extremely resourceful, adaptive to the tight timeline and easy to work with. They are true professionals who brought significant value to the transaction.”

This is KA’s 39th transaction in the foodservice distribution industry and the most recent of 11 engagements where KA assisted their client in acquiring another distributor.

About Keiter Advisors

Keiter Advisors has the only investment banking group focusing exclusively on the foodservice distribution industry. The group has:

• Assisted owners at over 120 distributors in 35 states resolve their business challenges
• Completed more than 90 valuations for broadline, produce, protein and specialty companies
• Consulted with 20 + family owned or closely held businesses on strategic issues
• Completed transactions with Sysco, US Foods, PFG, Gordon, Reinhart, Ben E. Keith, and 17 “super regional” and independent companies
• Represented 10 distributors in the acquisition of other foodservice, protein or equipment businesses

For additional information, contact:

Bill Beattie                                                                               Matt Austin
Email: bbeattie@keiteradvisors.com                                 Email: maustin@keiteradvisors.com
Phone: 804-565-6018                                                           Phone: 804-433-4184