Performance Food Group acquires Orion Food Systems

One Rock Capital Partners, LLC, a private equity firm, announced the sale of its portfolio company Orion Food Systems Holdings, LLC and its related subsidiaries, to an affiliate of Performance Food Group Inc. (PFG).

Founded in 1983, OLM is a leading manufacturer and distributor of pizza, sandwiches, breakfast and snack solutions primarily for foodservice applications in convenience stores and similar out-of-home venues in the U.S. and abroad.

“Over the course of our investment, OLM has grown substantially by innovating ways to better serve a growing customer base in the highly attractive convenience foodservice sector,” Kurt H. Beyer, Partner at One Rock, said in the announcement.

“In collaboration with our Operating Partners, OLM management expanded the business both organically and through acquisition. The Company developed new food concepts and deployed value-added technology to enhance the consumer experience for convenience channel customers. As a result, we believe OLM is well-positioned to capitalize on further growth opportunities in its next chapter as a part of PFG,” One Rock Partner Jack Rosenberg, added in the announcement.

One Rock’s Operating Partners Frank Orfanello, Kurt Barker, Steve Ingham, Brian Potts, AJ Skobel and Adam Feuer have worked closely with management to drive the business’s strategic direction, create an improved go‐to‐market strategy, increase manufacturing efficiencies and support the integration of a transformative acquisition.

Financial terms of the transaction were not disclosed.