Imperial Bag & Paper Co., LLC (“Imperial”), one of the largest distributors of disposable food service and janitorial supplies in North America, has completed its acquisition of Dade Paper & Bag Co. (“Dade”), based in Miami, Florida. Dade, founded in 1939, is a leading distributor to restaurants, supermarkets, cruise lines, and other food service establishments in the Eastern United States. This acquisition will bring the revenue of the combined business to over $1.0 billion and will expand its presence in key regions.
“The Dade Paper team is an important addition to our growing platform,” states Jason Tillis, president of Jersey City-based Imperial. “This represents a major step forward in our core markets and geographies. It reinforces our position as a leading distribution and service provider in the Mid-Atlantic and Southeastern regions, while positioning us to continue to expand throughout the remainder of the United States.”
“The legacy of both Imperial and Dade is outstanding, and the combined organization will continue to build on that legacy,” adds CEO of Imperial, Robert Tillis. Frank Sansone, COO of Dade, comments: “Our team is incredibly excited to join Imperial. Our customers, employees and suppliers are all going to benefit from the increased service footprint, combined product offering, and growth opportunities this transaction creates.”
Both Robert and Jason Tillis continue in their roles of CEO and president, respectively. Sansone and the Dade management team will remain in their current roles as they join Imperial. Customers will not experience any immediate changes in the way they interact with Imperial or Dade beyond increased product and service offerings. “Continuity is a very large focus for any of our acquisitions,” continues Bob. “Dade represents our 10th acquisition since 2007, and we are excited to welcome Frank and the rest of Dade organization to the team. Our combined efforts will focus on our customers and our people so that this will be a positive outcome for all of our constituents.”
In January 2016, Imperial partnered with Audax Private Equity (“Audax”) to support the next leg of growth. Don Bramley, Managing Director at Audax, comments, “We are thrilled to have partnered with Bob and Jason on this transformational phase of growth and the Dade transaction represents a meaningful step in our partnership as we continue to build the business organically and through acquisitions.”
Imperial was advised by Ropes & Gray, LLP. Akerman, LLP and Harris Williams & Co. represented Dade.Related Articles: