UniPro Foodservice bulks up in deal with Blackstone's PFG

Posted on March 3, 2009 14:26 by Andy Peters

There’s more than one way to deliver steaks, spoons and strawberries to restaurants. strawberries

There’s the Sysco Corp. way, in which dozens of regional foodservice distributors are owned and managed by a central office in Houston, Texas. Sysco describes itself as the largest foodservice distributor in North America.

Then there’s the UniPro Foodservice Inc. way, which Busch, Slipakoff & Schuh partner Adam M. Slipakoff thinks is superior. UniPro is an Atlanta-based cooperative of more than 300 independently owned food distributors, such as pizza specialist Roma [photo, below right] and United Poultry. UniPro centralizes some purchasing and marketing functions at its Vinings headquarters and passes the savings on to its member-owners.

The UniPro way allows local distributors to maintain their identities and have better relationships with their customers, Slipakoff said.

UniPro boasts that it’s larger than Sysco and that it just got even bigger, thanks to two recent significant transactions, one of which closed last month.

In the recent deal, UniPro acquired Progressive Group Alliance LLC of Richmond, Va. for undisclosed terms from by Performance Food Group Co. Progressive Group was the subsidiary that handled purchasing for Performance Food Group, which is also known as PFG. Roma Food truck

The earlier deal, which closed last year, involved PFG becoming a member-owner of UniPro. Terms of that deal also weren’t disclosed.

In effect, according to Slipakoff, PFG outsourced its purchasing functions to UniPro and PFG joined the UniPro network. The result is that UniPro’s total yearly revenue will jump to about $48 billion from $31 billion. In comparison, rival Sysco has yearly revenue of about $37 billion, according to its annual report. Arnall Golden Gregory is longtime outside corporate counsel to Sysco.

Slipakoff, who is UniPro’s general counsel, was corporate counsel to UniPro on both PFG deals. PFG General Counsel Joe Traficanti was primary counsel for his company, Slipakoff said. Bass, Berry & Sims advised Progressive Group Alliance on its sale to UniPro. Simpson Thacher & Bartlett advised New York private equity firm Blackstone Group LP, co-owner of PFG.

Slipakoff [photo, right] spends about two days per week at UniPro’s office and the rest of his time advAdam Slipakoffising other clients on mergers and acquisitions and venture capital transactions. Slipakoff’s other clients have included Thomas Group Capital, Nova Engineering and Environmental Inc. and ADK Corp.

Slipakoff and Bryan E. Busch left their former firm, Taylor Busch Slipakoff & Duma, in October to form an eight-lawyer firm specializing in serving mid-cap companies.

UniPro in 2007 asked Slipakoff to become its full-time general counsel, he said. The company purposely keeps a low profile, in order to highlight the identities of its individual member-owners like Roma and United Poultry. UniPro’s members distribute meat, produce, condiments, paper products and other supplies to restaurants, schools, hospitals, the military and other large groups.


More about: , , ,
E-mail | Share on Facebook | del.icio.us | Permalink | Add a comment | Comments (0) | Comment RSSRSS comment feed

Comments

Add comment


 

biuquote
  • Comment
  • Preview
Loading



ADVERTISEMENT
An Affiliate of the Law.com Network
Sign up to receive Legal Blog Watch by email
From the Law.com Newswire

[about RSS] Law.com Privacy Policy

Categories

Recent posts

Archive

About this blog

Janet ConleyThe Deal Watch Blog is devoted to bringing you the latest news in business law in Atlanta, the Southeast and the U.S. The lead writer is Daily Report associate editor Janet L. Conley.

Janet L. Conley is an attorney who returned to journalism after practicing law with Akin, Gump, Strauss, Hauer & Feld in Washington and with the Georgia Legal Services Program in Atlanta.

During her tenure at the Daily Report, Janet, now the paper's associate editor, has covered law firm economics and management, business and federal courts. In 2007, she received the Georgia Associated Press Story of the Year award and the Atlanta Press Club’s Journalist of the Year award, both for small circulation newspapers, for "Green to Gold," a series of articles on how climate change will alter business and the law.

Janet has written for The American Lawyer magazine and the National Law Journal, among other publications. She also served as managing editor of GC South magazine.

Janet holds a journalism degree from Southern College and a juris doctor degree from the University of Pennsylvania. She lives in Decatur with her husband Mark Harper, also an attorney, and their three children.

She can be reached at jconley@alm.com.

Andy PetersThe contributing writer is Daily Report staff reporter Andy Peters.

Andy Peters has been a journalist since graduating from Furman University in 1992. A short list of the subjects he’s covered includes the Georgia state Legislature, the U.S. semiconductor industry, the Alabama-Florida-Georgia “water wars” litigation, the 1999 American Airlines pilots strike, Coca-Cola and PepsiCo’s battle to acquire the Gatorade sports-drink brand, indie rock music and high school football. Andy has written for Bloomberg News, the New York Times Web site, the Macon Telegraph, the Spartanburg (S.C.) Herald-Journal and the Atlanta Business Chronicle.

Andy has written the Deal Watch column for the Daily Report since March 2006. He was born in Chattanooga, Tenn. in 1971 and grew up in Ringgold, Ga. He lives in Decatur with his wife and two children.

He can be reached at apeters@alm.com.

Blogroll







Sign in