WOODRIDGE, IL., May 2, 2019 /Private Equity Professional/ — Edward Don & Company, a distributor of foodservice equipment and supplies and a portfolio company of Vestar since February 2017, has acquired Myers Restaurant Supply.
Edward Don & Company (DON) is a distributor of foodservice equipment and supplies. The company stocks more than 12,000 SKU’s from 3,000 suppliers and its products include dinnerware, glassware, flatware, linens, buffet and table service, apparel, bar and kitchen supplies, furniture, fuel, cleaning products, paper towels, and tissues.
In addition to its distribution business, DON also as a Foodservice Equipment Division which provides kitchen design, equipment purchasing, and installation.
According to the 2019 Distribution Giants report published by Foodservice Equipment & Supplies magazine, DON had sales in 2018 of $1,027 million. DON has been owned and operated by the Don family since 1921.
DON, with approximately 1,250 employees, has seven distribution centers – in Chicago, Philadelphia, Atlanta, Miami, Dallas, Los Angeles, and Seattle – and is headquartered in Woodridge, IL (www.don.com).
Myers Restaurant Supply (Myers) is a distributor of foodservice equipment and supplies and is also a provider of restaurant and commercial kitchen design and build services. Customers include independent restaurants and multi-unit franchises, schools, hospitals, and country clubs. The company was founded in 1951 by Bob Myers and is today led by CEO Charlie Fusari and President Rob Myers (son of the founder). Myers is headquartered in Santa Rosa, CA (www.myersrestaurantsupply.com).
Myers will operate as a division of DON and remain under the leadership of Charlie Fusari and Rob Myers. “We look forward to bringing the Myers team on board,” said Steve Don, CEO of Edward Don & Company. “Their design-build and contract expertise complement our existing equipment and supplies business well, both in the California market and nationwide.”
The buy of Myers is DON’s third add-on acquisition under Vestar’s ownership. The two earlier buys were Smith & Greene, a Kent, WA-based foodservice equipment and supplies distributor, in December 2017, and Atlanta Fixture and Sales Company, an Atlanta-based foodservice equipment and supplies distributor, in October 2017.
Vestar specializes in management buyouts and growth capital investments. The firm targets equity investments from $50 million to $150 million in middle-market companies with enterprise values ranging from $250 million to $1 billion. Sectors of interest include consumer; diversified industries; healthcare; and financial services. Since the firm’s founding in 1988, Vestar has completed more than 80 investments in companies with a total value of more than $50 billion. Vestar has offices in New York, Boston, and Denver (www.vestarcapital.com).