Palm Beach Capital Invests in J. Polep Distribution Services, Rachael’s Food
CHICOPEE — Palm Beach Capital Fund III, LP, through one of its investment entities, announced it has made an investment in Consumer Products Distributors, LLC (d/b/a J. Polep Distribution Services) and Rachael’s Food, LLC, collectively one of the nation’s largest full-line wholesale distributors to the convenience- and grocery-store industry. Financial terms were not disclosed.
J. Polep has been in the distribution business for more than 120 year, and over the past several years, the company has expanded product lines to include fresh sandwiches, salads, and grocery items and has added programs and value-added services to better service the convenience-store retailer. The success of the company can be attributed to product diversification, dedicated employees, a loyal customer base, and a commitment to superior customer service, said Eric Polep, president and CEO.
“We are excited about the future growth of J. Polep Distribution Services and our partnership with Palm Beach Capital,” he added. “Our focus will remain our steadfast dedication to the customers we service and to the products they deliver, with the goal of making sure each of our customers and vendors achieve long-term success. Business will run as usual at J. Polep, and this new partnership with Palm Beach Capital will only enhance our capabilities and unparalleled customer service.”
Jeff Polep, chairman of J. Polep, added that “knowing that Palm Beach Capital believes in our family culture and the philosophies we carry has made this partnership extremely reassuring. We believe in the value of commitment to our people, while creating opportunities for our clients, team, and the industry, and nothing is going to change that.”
Mike Schmickle, partner at Palm Beach Capital, noted that his company’s strategy is to invest in solid management teams and assist them in their long-term strategic growth plans.
“The management team at J. Polep and the family culture it exemplifies with its customers, vendors, and employees embodies the values that we seek in a partner,” he said. “Having made our initial venture into the convenience distribution space in 2014 with our investment in New York-based Harold Levinson Associates, we have identified the industry as one that is uniquely positioned for growth and consolidation. J. Polep and HLA will both become independent members of our new convenience-distribution division, and we intend to add additional members in the future.”