H.I.G. Capital, a global alternative investment firm, and Lipari Foods, a distributor, manufacturer and importer of perimeter-of-the-store, specialty and branded food products, has acquired the assets of Tut’s International Export & Import Co. Inc.
Located in Dearborn, Michigan, Tut’s International has been importing and distributing high-quality Middle Eastern and Eastern European foods in North America for nearly 50 years. The company imports more than 4,000 products from approximately 80 countries, serving over 3,000 grocery retail customers. Tut’s International offers multiple brands including Dobrova, Shahia and Lebanon Valley across a broad product portfolio including olive oils, pickles, rice, pasta, canned goods, and meat, fish and dairy products.
“Tut’s International is a trusted leader in the Middle Eastern and Eastern European specialty food category, and we are excited to add their expertise to the Lipari platform,” said Thom Lipari, president and CEO of Lipari Foods. “Acquiring Tut’s strengthens our strategic position as one of the premier ‘perimeter-of-the-store’ and specialty grocery distributors in the U.S. We look forward to partnering with the Tut’s team to continue growing our international specialty division.”
“We are pleased to have supported Lipari’s acquisition of Tut’s International,” said Justin Reyna, managing director at H.I.G. “This investment fits squarely in our strategy of acquiring unique and complementary food distribution businesses in existing and adjacent markets with significant value creation opportunities.”
Tut’s International is the third add-on acquisition that Lipari has completed since H.I.G. acquired the company in January 2019 and is part of a broader M&A-oriented growth strategy.
Tut’s International services everything from national supermarket chains to ethnic grocery retailers and everything in between and continues to be at the leading edge of market development and modern mass market development in the food industry.