Keiter Advisors Completes its 30th Foodservice Transaction
Posted on August 2, 2016
Keiter Advisors (formerly known as Keiter Stephens Advisors (“KSA”)) announces the sale of Pon Food Corporation located in Ponchatoula, Louisiana. Pon focuses on the education and corrections segments in addition to its broadline business. The company was acquired by Good Source Solutions, a national specialty foodservice distributor headquartered in Carlsbad, California. The transaction closed in mid July.
Pon was started in 1956 by the Berner family and is one of the largest family-owned broadline foodservice distributors servicing the state of Louisiana.
Tony Berner, Jr. will remain the President at Pon.
Mr. Berner remarked, “When I decided we needed to look into the option of selling our business, the company and representative I was told to contact was Bill Beattie of Keiter Stephens Advisors. It was one of the best bits of advice I have ever received. Bill, Chris Hagen and their team took care of all the little things you tend to take for granted after a lifetime of work. I cannot say enough good things about KSA. They are honest, hard-working people who truly care about the clients they represent.”
The acquisition gives Good Source additional scale in the education, corrections and foodservice sectors and a stronger distribution network in the Southeast region of the United States. Good Source is a portfolio company of Evergreen Pacific Partners.
KSA served as the financial advisor to Pon Food Corporation in this transaction. This is the third transaction KSA has completed in 2016 and its 30th in the foodservice distribution industry.
About Keiter Advisors
Keiter Advisors is the only financial advisory firm dedicated to the foodservice distribution industry. KA is recognized as the national leader in assisting owners to:
- Buy or sell foodservice distribution, meat processing and produce companies
- Plan and execute transition strategies, including family buy out initiatives and third party sale
- Examine the profitability of their business and develop viable improvement programs
- Renegotiate existing financing arrangements and secure new lenders
KA has worked with the owners of over 120 foodservice distributors to resolve their most challenging business issues.
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