Acquisition Continues to Accelerate Skyview Capital's Investment In New Consumer Product Categories, Innovation and Customer Reach
ONTARIO, CA / ACCESSWIRE / October 21, 2019 / Reflecting the company's continuing expansion into new consumer product industries, global private investment firm Skyview Capital, LLC (www.skyviewcapital.com) has acquired select assets of leading national ethnic food producer-distributor Passport Global Foods. The business is rebranded as Passport Foods (SVC), LLC. Terms of the transaction were not disclosed.
Founded in 1978, the California food company is recognized as a premier provider of quality ethnic-style appetizers and cuisines distributed to hundreds of grocery, club and retail accounts nationwide.
Combining traditional flavors with advanced preparation technology, Passport Foods rapidly grew from a local provider to Southern California restaurants to an acclaimed national food producer and distributor with an impressive array of award-winning brands that include Chef's Signature, Wing Hing, Cantina Fresca, Sophia Fresca, Sophia's Kitchen, and House of Bee. Passport's Asian-styled foods encompass Gyoza dumplings, egg rolls, wontons, noodles, and fortune cookies. The company's Latin American styled foods include Chimichanga, Flautas, and Empanadas. Passport Foods is also responsible for the production of a wide range of deserts and toppings and is gaining industry and consumer recognition for its diverse organic options.
For nearly three decades, Passport Foods has delivered to the table traditional and contemporary recipes perfectly crafted for all customer preferences with uncompromising superior taste. Rooted in generations of Asian and ethnic culinary tradition, Passport Foods has earned an industry-wide reputation for bringing fresh and exciting flavors to the table with passion, authenticity and a contemporary twist. Passport takes inspiration from cultures around the globe to create a wide and varied selection of culinary delights that range from a broad array of authentic traditional offerings to a bold line-up of innovative creative fusions.
"We are extremely excited by the investment as we have deep operational expertise which can help modernize and accelerate growth at Passport Foods," said Alex Soltani, Chairman of Skyview Capital LLC. "Skyview has executed numerous food, consumer, and distribution transactions. We see a lot of opportunity for this business to operate independently and expand through organic and inorganic growth. The ethnic food sector is rapidly growing yet very fragmented, so we see great opportunity to consolidate the industry."
"I am excited to work with Skyview Capital going forward, supporting the development of our business," said Mark Thomson, CEO of Passport Foods (SVC), LLC. "We are very excited by our innovative new products. Our primary goal is to provide the same level of service and innovation to our loyal customers, vendors, and staff. We have a solid platform to deliver high quality, flavorful foods to our valued customers. We live by our motto of Crafting Extraordinary"
About Skyview Capital, LLC:
Skyview Capital, LLC is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. The Los Angeles Business Journal consistently recognizes Skyview as one of the leading private equity firms in Los Angeles. To date, Skyview has successfully completed nearly 30 transactions within its target market verticals. For further information visit www.skyviewcapital.com.
About Passport Foods (SVC), LLC:
Passport Foods (SVC), LLC is a leading producer of globally-inspired foods. The business distributes its variety of entrees and appetizers throughout the United States in the Retail, Food Service, Grocery, Club channels. Passport Global is based in Ontario, CA and is a portfolio company of Skyview Capital, LLC. More information can be found at www.passportfood.com.
SSA Public Relations
SOURCE: SSA Public Relations