Patriot Capital Invests in the Recapitalization of IF&P Foods


Patriot Capital is pleased to announce a subordinated debt and equity co-investment in IF&P Foods. Patriot's investment supported the acquisition of IF&P by Rotunda Capital Partners.

IF&P Foods was formed in 1997 through the merger of Indianapolis Fruit (founded 1947) and Piazza Produce (founded 1970), two leading produce distribution companies with a combined 118 years' experience serving the grocery and foodservice industries. Garden Cut, a fresh cut processing company, and leading food service produce distributors, Circle City Produce and Papania Produce, complete the IF&P group of companies. The Company has grown to include a fleet of over 300 trucks servicing over 14 states in the Midwest and beyond from five facilities totaling over 225,000-square-feet of warehouse space. Today, IF&P is a category leader in providing both the food service and retail industries with fruit, vegetables, dairy and floral products.

About Patriot Capital

Patriot Capital is a leading source of growth capital for middle-market companies seeking to finance business expansion, acquisitions, management buyouts or balance sheet recapitalizations. Patriot Capital is focused on debt capital and minority equity investments. Our senior deal professionals each have over 20 years of diverse corporate finance experience. We provide companies with capital and seasoned business judgment for transactions.

Patriot Capital utilizes a disciplined investment strategy developed over many years that focuses on capital preservation, consistent earnings growth and income generation. Patriot Capital has invested in and managed companies successfully through varying periods of economic expansion and contraction. We understand and employ successful strategies and tactics needed to guide our companies through these periods.

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