Last updated on September 4th, 2012 at 04:53 pm
Terry Halverson, founder of Metropolitan Market, who remains its chairman and CEO, has become a significant investor in Good Food Holdings and a member of its board of directors.
“The Good Food Holdings’ business structure and capital will provide Metropolitan Markets and Bristol Farms a greater opportunity for each of us to more quickly expand in our local markets. It also will create on-going opportunities to actively share great ideas and successes between our management teams,” Halverson said.
Kevin Davis, chairman and CEO of Bristol Farms, who is currently an investor and board member of Good Food Holdings, said, “This is clearly a one-plus-one-equals-three situation. Bristol and Metropolitan each have a compelling and unique offering in their local markets. We believe that many of the individual market and operating successes of the two companies can be thoughtfully shared for the potential benefit of each other. Additionally we gain significant purchasing and logistics opportunities with common ownership.”
Good Food Holdings was developed to identify and financially partner with the highest quality, locally owned food retailing brands in key markets in the Western United States.
“Our goal is to maintain the people culture and unique operating identity of each of our food retailing brands while enhancing each business’s growth potential, innovative synergies and economy of scale advantages” said Bruce Krysiak, chairman of Good Food Holdings. “Our goal is the effective combination of the best results and best thinking of each brand in support of successfully building all the brands.”
Good Food Holdings majority shareholder is Endeavour Capital, a West Coast private equity firm.