LOS ANGELES — Diversis Capital LLC, a Los Angeles-based private equity firm, today announced that it has acquired Dari Farms Ice Cream Co., Inc. Headquartered in Tolland, CT, Dari Farms is the leading full service Direct Store Delivery house in New England, serving over 5,000 points of distribution via their tri-temp warehouse and distribution platform. Financial terms of the transaction were not disclosed.
Founded in 1970, Dari Farms formed strong distribution partnerships with regional and national ice cream banners, while simultaneously expanding its reach to service retail outlets throughout southern New England. In the early 2000’s, Dari Farms expanded into frozen foods and today carries thousands of SKUs across ambient, refrigerated, and frozen categories. By coupling the traditional full service DSD model with multiple temperature capabilities, Dari Farms has created a proven method for increasing sales and speed to market, while decreasing out of stocks, stales, and retailer’s labor costs.
“DariFarms has a tremendous reputation as one of the top DSD distributors in New England. The management team has done a fantastic job of growing the business over the past few years and we look forward to partnering with them over the next several years to invest in expanding the capabilities and geographic reach of the business”, said Kevin Ma, Managing Director at Diversis.
Diversis is planning a multi-tiered investment approach into Dari Farms through add on acquisitions, food service expansion, and infrastructure and technology improvements. The company is presently looking at additional acquisition and growth opportunities both inside and outside the New England footprint, with the collective goal of serving Dari Farms’ customers and vendor partners in the most convenient manner.
Dari Farms’ management issued the following statement “It is with great pleasure that we today announce this new partnership. Diversis brings to Dari Farms an extensive portfolio of operational and industry resources, combining Direct-Store-Delivery knowledge with technological best practices. By integrating new technologies and expertise with the strengths of our existing management team and customer/vendor relationships, this collaboration is sure to enhance our capabilities and improve the experience of our customers.”
About Dari Farms
Dari Farms is the premier full service Direct Store Delivery house for Southern New England, serving over 5,000 points of distribution between Connecticut, Massachusetts, Rhode Island, and New Hampshire. Originally an ice cream distributor, Dari Farms has evolved to carry a broad line of convenience, grocery and foodservice products ranging from ice cream to beverages to salty snacks. By utilizing a “tri-temp” warehousing and distribution platform, Dari Farms’ sales rep and driver teams order and merchandise frozen, refrigerated and ambient temperature products off the same truck on the same delivery resulting in increased sales for its vendor partners and reduced labor costs for its retail customers. More information can be found at www.darifarms.com.
About Diversis Capital
Founded in 2013, Diversis Capital, LLC (“Diversis”) is a North American private equity firm with a focus on carve-outs, standalone deals and special situations in the lower and middle markets that require both sharp financial acumen and operational expertise to reach success. The tight-knit team of professionals has experience working on complex transactions and leveraging deep hands-on operational expertise to help companies and their management teams achieve full potential. Diversis, which was founded by Managing Directors Ron Nayot and Kevin Ma, is currently in full acquisition mode with a goal of executing several transactions annually. For more information, please visit www.diversiscapital.com.