Los Angeles, CA – Corridor Capital announced today an investment in Indo~European Foods, Inc. (“Indo~European” or the “Company”). For nearly 40 years, Indo~European has been a leader in providing specialty and gourmet Eastern European, Mediterranean, North African and South Asian foods to high quality independent, ethnic grocers in the Western U.S. and select national food wholesalers and retailers. The investment is expected to support Indo~European’s passion for and commitment to bringing its long- established heritage of offering high quality, international foods to the rapidly growing audience of consumers who are increasingly seeking healthy, flavorful, unique and authentic culinary experiences. Centerfield Capital Partners, a mezzanine debt and equity investor, participated with Corridor in supporting Indo~European.
Glendale, CA based Indo~European (www.indo-euro.com) sources, develops, markets and distributes a broad offering of genuine Eastern European, Mediterranean, North African and South Asian spreads, preserves, condiments, appetizers, cheeses, confections, seasonings and specialty grains and rice. Indo~European has differentiated itself over the last four decades by offering a unique combination of the highest quality, most authentic ethnic brands, competitive prices, and unparalleled service to its retail and wholesale partners. Corridor believes that the Company’s strong reputation in and deep knowledge of the specialty ethnic foods market, combined with Corridor’s commitment to transformational strategic, operational and financial engagement, will position Indo~European to further enhance its product and service offerings, accelerate growth and bring its exceptional products to a broader customer base.
“Indo~European’s management has done an exceptional job of understanding and meeting the needs of its customers in the continually evolving specialty foods market without ever losing sight of the authenticity on which the Company was built. We are thrilled to partner with everyone at Indo~European to support its growth and the preservation of its unique culture and core values,” said Corridor CEO, Craig Enenstein. “We believe that the additional resources that the Company will now have at its disposal, coupled with the existing management team’s extensive knowledge of and passion for ethnic and specialty foods, will help Indo~European continue its long tradition of success and reach new heights,” shared Craig Enenstein.
“Indo~European’s growth and success have been a function of our unwavering commitment to meeting the highest standards in quality and safety, providing best in class service, and preserving the authenticity of our products. We are delighted to continue on this mission with partners that can offer capital, operational resources and access to a wealth of experience in food distribution, retail and manufacturing to help us achieve our goals and exceed our customers’ expectations,” said Mike Hatun, the Company’s CEO.
Investment banking firm PricewaterhouseCoopers Corporate Finance, LLC and the law firms of Brier, Irish Hubbard & Erhart, PLC and Briggs and Morgan, P.A. advised the seller on the transaction.
TCF Capital Funding, a division of TCF National Bank and a leading provider of financing solutions to growing, middle-market businesses, provided a senior credit facility in connection with the investment and the Company’s planned growth. Corridor was represented by Morgan, Lewis & Bockius LLP.
