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Public Notice of Company Sale: Project Lido and Project Pesce

Project Lido Transaction Overview

Piper Sandler has been retained by a leading distributor of food products and other goods to cruise lines in the U.S. (“Lido” or the “Company”). Lido is considering (a) a full sale of the Company, (b) sale of a majority equity stake in the Company, or (c) a sale of one of the Company’s segments.

Project Lido Company Overview

Since its founding approximately 75 years ago, Lido has served as a food distributor to leading U.S. industries and pivoted to focusing on the cruise industry approximately 25 years ago. The Company serves leading blue-chip cruise lines through its two distribution facilities: a 114,000 square foot facility on the East Coast of the U.S. and a 79,000 square foot facility on the West Coast of the U.S. The Company offers a comprehensive product selection, consisting of dry food products, frozen food products, various protein products, and bonded items.

Project Lido Investment Highlights

  • Distributor Of Scale Of Mission-Critical Goods
  • Strategic Geographical Footprint
  • Leading Blue-Chip Customer Base
  • Experienced Management Team
  • Established Market Position
  • Impressive Financial Performance
  • Significant Inventory Investment

Project Lido Additional Information Links

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Project Pesce Transaction Overview

Piper Sandler has been retained by the leading Fresno-based seafood wholesaler and grocer primarily focused on seafood and Asian food products (“Pesce” or the “Company”). The Company is considering a full sale.

Project Pesce Company Overview

Pesce is a family-owned and operated seafood wholesaler, grocer and small restaurant that has a 70+ year track record as a destination experience and go-to for fresh, quality seafood within the Fresno community. The Company maintains 10,000 sq. ft. for its operations, which consist of 5,000 sq. ft. of retail space coupled with 1,000 sq. ft. of restaurant space. Pesce’s complementary business segments facilitate a diversified platform that serve a variety of end markets, including the wholesale market, retail seafood customers, restaurant customers and grocery customers. The Company has an attractive cash flow profile and has generated significant results in 2020, despite COVID-19.

Project Pesce Investment Highlights

  • Leading Seafood Wholesaler and Grocer In Fresno
  • Legacy Track Record
  • Long-term Organic Growth Driven By Superior Service And Product Offerings
  • Favorable Secular Tailwinds
  • Proven, Experienced Management Team
  • Attractive Cash Flow Profile And Financial Performance

Planned Sale Close Dates:
First Week of November 2020 for both Project Lido and Project Pesce.

Sale Contact / More Info: Gino Demonte, [email protected].

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