KSA Advised The Seller
"When we needed assistance in selling a non-core asset, our first thought was to go to Keiter Stephens. KSA’s depth of knowledge in the foodservice industry is unquestioned, and when we challenged them to help us divest a transportation business, they rose to the occasion and did an outstanding job. This experience confirmed for us that KSA has the talent and depth to tackle any opportunities presented to them. We look forward to continuing our long-standing relationship with KSA."
Russell Libby
Vice President, General Counsel and Corporate Secretary – Sysco
Houston, Texas
KSA Advised The Seller
"Earlier this year, our family decided we should consider selling our
distribution business. We turned to Bill Beattie at Keiter Stephens
Advisors for advice and he confirmed there had been a recent increase in
the number of industry transactions.
We have known Bill for many years and had confidence his firm could
deliver the results based on their experience in marketing food
distribution companies and meat processors. KSA guided us through the
process of developing the information, determined whom to approach and
conducted the negotiations on our behalf. Bill kept us well-informed
and worked with us to assure we achieved the business and family
objectives we had in mind.
KSA brought the right resources to the table, kept the process moving
and helped us achieve an outcome that exceeded our expectations."
Greg Voorhees
Great Western Meats
Orlando, Florida
KSA Advised The Seller
"The real advantage of working with Keiter Stephens Advisors is the
firm's level of expertise in the foodservice industry. When KSA's
Managing Director Bill Beattie called to discuss a client he was
representing, he had a very solid understanding of how the acquisition
would benefit U.S. Foodservice. After working with Bill and his team,
it's easy to see why they have such a good reputation in the industry.
They worked hard for their client, but were also objective and
understanding of our needs throughout the entire acquisition process.
It was one of the smoothest transactions I've been involved in and I
look forward to working with the KSA team in the future."
Bryan A. Torcivia
SVP, Mergers & Acquisitions, US Foods
Rosemont, Illinois
KSA Advised The Seller
"Many M&A brokers approach us to consider companies they have been engaged to sell. Our experience with Keiter Stephens Advisors has demonstrated their knowledge of the foodservice M&A process and their high ethical standards. They have handled our due diligence investigations and negotiations judiciously on behalf of their sell-side clients. They have an obvious respect for our industry. We've been very pleased with our work with Keiter Stephens Advisors."
Mark Drazkowski
Chairman - Reinhart FoodService
La Crosse, WI
KSA Advised The Buyer
"Keiter Stephens not only understands broadline distribution and finance, they also brought in a meat specialist on our deal who had experience managing a meat operation similar to Winn’s. KSA works hard to get it right, because they know there’s no margin for error in foodservice.”
Mike Roach
President - Ben E. Keith Foods
Fort Worth, TX
KSA Advised The Buyer
"I have known Bill Beattie, KSA's Managing Director, for many years. KSA is particularly well qualified because of their knowledge of the broadline industry and their specific experience in closing meat company transactions. Their team provided a creative transaction structure for a very complex situation and skillfully managed the negotiations with the various parties involved. We are very pleased with how they represented us in securing this opportunity."
Malcolm "Mac" Sullivan
CEO - Pate Dawson Company
Goldsboro, NC
KSA Advised The Seller
"I contacted KSA to help me evaluate my options regarding the business. Like so many other independent distributors, our customer base has struggled in a tough economy, sales have fallen off and that put a strain on my operation. I needed an alternative that would provide those long time customers with uninterrupted service, while securing a fair value of my life's work. Bill Beattie and his team were able to quickly help me consider my options, then put together a transaction with Reinhart that accomplished both of these objectives. I am happy to say that the speed at which KSA was able to put together a transaction, combined with the value I realized, surpassed my expectations."
Mike Teagle
Former Owner - Valley Food Service
Norfolk, Va
KSA Advised The Seller
"The costs of an independent foodservice distributor are growing faster than our gross margin dollars, but more importantly, our customer base was struggling in a tough market. Rarely did a week go by where I didn't hear from someone who had a client looking to buy someone "just like me". They didn't even know me. The calls went to voicemail, the letters hit the trash, and the e-mails were deleted.
KSA approached me with a warm, genuine offer to see if it made sense to consider selling the business. They worked hard to understand me and what made my business unique. They understood the pride that every owner feels.
Now that the sale has been completed, I can say Keiter Stephens was aggressive on value but compassionate and supportive to my emotional needs, and they commanded a higher multiple than what those other finance firms were proposing. I sold my business before I thought I would, but I've never felt better."
Mark Eisenberg
Former CEO - Natco Corp.
New Bedford, MA
KSA Advised The Seller
"Keiter Stephens Advisors is unique because they understand the art of selling a family foodservice distributor. They helped us identify the key areas of value in our business, and their due diligence work left no guesswork. Most importantly, throughout the process, they never let things slide, they constantly worked to keep things moving to the next stage, they kept the entire family focused and unified, and made sure we knew what was happening every step of the way.”
Sharon Catanzaro Ledonne
Former President - Frank J. Catanzaro Sons and Daughters, Inc.
Cincinnati, OH
KSA Advised The Seller
"When it came to getting my company ready for sale, I know I couldn’t have done this on my own: you think you know what the business is worth, but Keiter Stephens was able to run the numbers to establish the true marketable price with the right paperwork behind it. I was very comfortable working with them and had a lot of confidence in them throughout the process – Keiter Stephens really knows foodservice, and they are completely professional. They were also highly confidential – they made sure no news leaked inside or outside our company. After excellent preparation, I sold to my general manager for the right price. I have nothing but praise for Keiter Stephens and recommend them highly."
Mark Dick
Former Owner - Mid-America Wholesale
Enid, OK
Planning / Financial Review
"We are a family owned business with a long history of success, however we were facing the same challenges as most other foodservice distributors. We wanted advice from an independent authority, one who has the ongoing opportunity to see the industry from a much broader perspective. KSA took the time to learn the unique aspects of our organization and to conduct their "KSA Financial Analysis" - a detailed report containing a range of financial benchmarking analyses and real world recommendations. We are currently working with them to implement many of those recommendations, including evaluating strategic acquisitions. Keiter Stephens Advisors has proven to be a trusted partner whom we can rely upon for honest assessment and sound business advice."
Peter Malone
CEO - Thurston Foods, Inc.
Wallingford, Connecticut
Planning / Financial Review
"To be a best-in-class foodservice distributor, you need to know about finances. You must have command of the numbers and the metrics that indicate your business is not just running, but running strong. Simply buying and selling groceries will not get you there. You should have a plan in place to grow the value of your business every day. Keiter Stephens Advisors works with us to become even more financially strong and savvy – so that we can be the best foodservice distributor we can be, for our customers, for our family shareholders, and for our employees."
Joe Cara Donna
SVP - Cara Donna Provision Company
Braintree, MA
Ownership Transition / Planning / Financial Advisory
"Our relationship with Bill Beattie and Keiter Stephens Advisors goes back nearly ten years. They have worked with us on a number of initiatives including the acquisition of a competitor, a buyout between family members, management incentive programs, and strategic and tactical planning. Their industry knowledge, integrity, financial expertise and sense of fair play have proved to be invaluable. Favorite Foods is now in a significantly improved position to build upon our past success to the benefit of our customers, our employees and the owners of the company. I would recommend highly KSA to any owner looking to position their company for future success."
Chris Barstow
President and CEO - Favorite Foods
Somersworth, New Hampshire
Ownership Transition / Planning / Financial Advisory
"During my work with Bill Beattie, prior to his co-founding Keiter Stephens Advisors, he helped us figure out where our operator relationships were profitable – and where they were not. Why is this so important in our industry? We want to be the best partner we can be. We build long-term relationship with our operators to help them grow their business. Bill Beattie really understands that better than anyone else I’ve seen in finance – that the customer is #1 and always will be, and it takes a sound partnership to service them so that we all benefit in the long run."
Jeff Miller
Vice President - Thomas O. Miller & Co.
Marlboro, NY
"We engaged Keiter Stephens Advisors to work with us on vendor profitability, and with their guidance, we’ve driven down losses on business with unprofitable suppliers from 50% to 25%. More importantly, Keiter Stephens worked side by side with Jordano’s Director of Purchasing/Marketing to develop the model and incorporate her expertise and vision in the project.
On the customer side, in foodservice, you have to know to the penny what it costs to deliver groceries. KSA helped us uncover potential areas of excess cost or lost opportunity serving operators. Armed with this information, we’ve improved how we manage our sales force by highlighting options for margin improvement and reducing over-servicing, and we’ve improved customer profitability by 20% overall."
Jim Spencer
Vice President/General Manager - Jordano’s
Santa Barbara, CA