Strategic Acquisition
by: BTM - Mon, 02 Mar 2020
Bahrain-based Investcorp has announced that it has acquired Fortune International, a super-regional speciality distributor of seafood and gourmet food products. The company was founded in 2001 by Sean O’Scannlain, who will continue to lead the company as CEO and maintain a significant ownership stake. Fortune distributes fresh and frozen seafood and gourmet foods across the Midwestern US and has continually expanded its geographic footprint by acquiring speciality distributors in strategic markets. It has grown to become one of the largest speciality food and seafood distributors in the US. “Specialty foodservice distribution in the United States is a highly fragmented, resilient and growing $40-billion market,” said Hazem Ben-Gacem, co-CEO at Investcorp. “We believe that Fortune is well-positioned to capture significant share with its unique platform as a scaled, speciality seafood enterprise.”
Tags #btm march 2020 #business bites #bahrain business bites #strategic acquisition #gourmet food distributor #food distribution business #gulf investment news #bahrain private equity #seafood distributor us #fortune international #bahrain investcorp #investcorp acquisition
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