Kainos Capital Sells Ferraro Foods To Kelso & Company
Kainos Capital, a food and consumer-focused private equity firm, has sold portfolio company Ferraro Foods, a foodservice distributor delivering food and supplies primarily to the Italian restaurant and pizzeria segment in the Eastern U.S., to funds managed by Kelso & Company.
Andrew Rosen, Managing Partner of Kainos, said, “Our interest in Ferraro Foods was driven by our thematic-based approach to investing in the food industry and our experience partnering with founder owned businesses. We believed Ferraro Foods could play a unique role as the consolidator in the highly fragmented Italian specialty distribution segment along the eastern seaboard and Michael, with the Ferraro management team that we helped assemble around him, executed brilliantly.” Rosen continued, “We and the team sourced and integrated seven proprietary add-ons of other founder-owned specialty distributors which resulted in exceptional growth during our investment.”
Kevin Elliott, a Partner at Kainos, added, “We built a relationship with Michael Giammarino back in 2016 and were very fortunate to be selected by Michael to be the stewards of this great business that he and his family had built over 25 years. Our familiarity with the specialty distribution space and the Kainos team’s operational prowess assisted Michael and the Ferraro team in executing their growth strategies. Moreover, the Ferraro team demonstrated great operational leadership in driving the core business, even during the challenging pandemic environment, while also successfully integrating the proprietary acquisitions. The net result was performance that surpassed our original plans.”
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