(Chandler, AZ) In June 2012, Liberty Distribution completed its sale to Vistar, a division of Performance Food Group. Founded in 1998 by Jim Schweikert, Liberty Distribution grew to become the leading snack food distributor to non-food retailers. G. Kevin Fechtmeyer, Managing Partner of Cave Creek Capital, noted, “This was a tremendously successful investment due to the energy and teamwork of Liberty’s management which helped grow its revenues by nearly 400% since our investment in 2008. This Transaction generated a return of 5.5 times our initial investment.
Patrick Hagerty, President and CEO of Vistar noted, “We have long admired Liberty, they pioneered the availability of candy and snacks to nonperishable retailers. This category is now common place in retail industries where it was virtually unknown just 15 years ago. We are excited to be adding the entrepreneurial spirit of Liberty’s management team and we are confident that they will be instrumental in helping Vistar meet its long term growth strategy.”
Cave Creek Capital Contact:
Jourdin Lambright, Marketing Associate
Phone: (480) 478-6960