Bear Growth Capital Announces Partnership with Dairyland USA.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Bear Growth Capital Partners ("BGCP BGCP Bear Growth Capital Partners (Bear Stearn's private equity fund) BGCP Burner Gas Cock Position "), an affiliate of Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Merchant Banking today announced that is has acquired a minority ownership position in Dairyland USA Corporation ("Dairyland"). Dairyland is a New York-based distributor of high-end specialty food products for restaurants and gourmet retail stores with operations in the Mid-Atlantic and the West Coast. Dairyland's origins date back to 1956 and continues to be family owned and operated. Dairyland distributes unique specialty food products and ingredients including meats, baked goods, baking products, fine foods, milk and cheese products, as well as specialty cleaning supplies. "We are excited about this partnership with Dairyland," said Paul Lattanzio, Senior Managing Director, Bear Growth Capital Partners. "Dairyland has distinguished itself by providing its customers with quality products and high levels of service. This management team has done an excellent job of positioning the company to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. future growth opportunities and we look forward to supporting Dairyland with its expansion initiatives." "We are pleased to partner with Bear Growth Capital. BGCP's business expertise and financial support will enable Dairyland to broaden distribution through expanding product lines as well as through acquisitions in our core markets of New York, Washington D.C., California, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , and Phoenix," said Chris Pappas, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president, Dairyland USA Corporation. Dairyland's founders, Chris Pappas, John Pappas and Dean Facatselis will continue to be majority owners, managing and operating the business. Tunnell Consulting, a New York based advisory firm, acted as the financial advisor to Dairyland. About Bear Growth Capital Partners: Bear Growth Capital Partners ("BGCP") is an affiliate of Bear Stearns Merchant Banking, the private equity arm of Bear Stearns & Co. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). BGCP focuses on making investments in middle market companies valued between $10 and $100 million. BGCP will invest in compelling growth capital opportunities, traditional buyouts, recapitalizations, co-investments, and control and minority ownership positions alongside superior management teams and other private equity sponsors. More information about BGCP can be found at http://www.bsmb.com. About Dairyland USA Corporation: With origins dating to 1956, Dairyland is a New York-based distributor of high-end food products and specialized ingredients to restaurants, country clubs and gourmet retail stores. Dairyland's specialty items include fine cheese, meat products, condiments and baking ingredients from around the globe. More information about Dairyland is available at http://www.dairylandusa.com |
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