Prime Meats, a US processor and supplier to retail and foodservice, has secured an undisclosed investment from Shoreline Equity Partners. Ian Garland, a principal at the Florida-based private-equity firm, stated that the partnership aims to drive growth organically and through acquisitions in the US market.
Specializing in serving Hispanic customers, Prime Meats, headquartered in Duluth, Georgia, provides a range of meat products including beef cuts, poultry, pork, and seafood like shrimp and salmon across 15 US states. The company also operates an e-commerce platform known as Marble Hills Ranch.
Norberto Sanchez, the founder of Prime Meats in 1992, will continue to lead the company along with the existing management team. Together, they will maintain a significant ownership stake in the business. The exact size of Shoreline Equity Partners’ interest in Prime Meats was not disclosed.
Sanchez expressed his commitment to upholding the company’s reputation for providing top-quality products and services. Meanwhile, Shoreline Equity Partners manages over $750 million, focusing on investments ranging from $50-$350 million in businesses generating annual revenues of $50-$350 million and EBITDA of $5-$25 million.
In a statement, Shoreline Equity Partners did not disclose Prime Meats’ financial performance as a privately-owned company. The firm’s investment portfolio in the food industry includes Engelman’s Bakery and Carbon’s Golden Malted.
Daniel Arcila, CEO of Prime Meats, highlighted that the partnership with Shoreline Equity Partners will enable the company to expand its operations and presence significantly across the US market. The collaboration signifies a strategic move towards growth and market expansion in the food and beverage industry.
