Value-added protein processor and distributor Prime Meats has obtained an investment for growth across the U.S.
The Duluth, Georgia, U.S.A.-based seafood, beef, and poultry supplier, and owner of the Marble Hills Ranch brand, will also be seeking strategic acquisition opportunities across the country.
Shoreline Equity Partners, a lower-middle-market private equity firm, is partnering with Prime Meats but did not disclose the amount of the investment. Shoreline did not respond to SeafoodSource’s request for additional information.
“Shoreline’s knowledge and experience in food distribution is second to none and will allow us to meaningfully expand our operations and footprint across the U.S. Shoreline shares our vision for the exciting future of Prime Meats, and we are very grateful for the opportunity to partner with their team,” Prime Meats CEO Daniel Arcila said.
Prime Meats distributes protein-focused products and other specialty offerings to 4,200 independent restaurants, grocery stores, and butcher shops, mainly with a focus on Hispanic and traditional markets across 15 states. Founded by Norberto Sanchez in 1992, Prime Meats employs 250 workers.
Sanchez and the Prime Meats management team will continue to lead the company and “maintain a meaningful ownership position moving forward in partnership with Shoreline,” Shoreline said.
Prime Meats has built “an exceptional reputation for providing quality protein to the Hispanic community across the Southeast U.S.,” Shoreline Principal Ian Garland said. “We are excited to partner with the Prime Meats team to execute on a multi-faceted growth plan which includes both organic initiatives and add-on acquisitions.”
Senior financing for the transaction was provided by NXT Capital. Deloitte Corporate Finance served as the exclusive financial advisor to Prime Meats in the transaction.
