NASHVILLE, Tenn., Sept. 5, 2024 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to J & R Dairy Service, Inc. and Joe & Ross, Inc. (Joe & Ross), on their sale to GlacierPoint Enterprises, Inc. (GlacierPoint), a portfolio company of Mill Point Capital LLC. Going forward, Joe & Ross will operate as the Great Lakes Division of GlacierPoint.
Joe & Ross, headquartered in Chicago, Illinois, is a premier direct store delivery (DSD) distributor of frozen and refrigerated food products in the Chicago-metro area. Founded in 1965, Joe & Ross has built a stellar reputation with a wide range of partner brands including Nestlé, Häagen-Dazs, Ben & Jerry’s, Edy’s, Nesquik, and Breyers. Joe & Ross serves a diverse customer base comprised of retail store chains, drug stores, independent corner stores, gas stations, schools, restaurants, sports stadiums, and food e-commerce websites.
GlacierPoint, headquartered in The Bronx, New York, is one of the nation’s leading DSD distribution and logistics platforms. Serving as the exclusive DSD distributor of Dreyer’s Grand Ice Cream and Unilever Ice Cream, GlacierPoint features brands such as Häagen-Dazs, Ben & Jerry’s, and Nestlé Ice Cream. In addition to ice cream, GlacierPoint distributes a variety of fresh and frozen products, servicing a territory that spans from the U.S./Canadian border to South Carolina. Recognized for its dependability, reliability, and consistency, GlacierPoint distributes to grocery store chains, independent supermarkets, delis, drugstores, convenience store chains, and foodservice customers.
“Selling our family-owned business of almost 60 years was both nerve-racking and exciting,” shared Ross Purpura, co-owner of Joe & Ross. “Bob Contaldo, Matt Crabtree, and the entire XLCS team dedicated endless hours to not only find us a buyer but the right buyer—one that shared our family principles. They expertly guided us through both the business and emotional aspects of the sale, ensuring our company was in the best hands with GlacierPoint.”
“It is a privilege to be part of the history of Joe & Ross,” said Bob Contaldo, XLCS Managing Partner. “Representing family shareholders and helping them realize the rewards of their hard work across generations is truly gratifying. We are excited to have found a partner who will not only grow the business but also uphold the proud legacy of this great company.”
XLCS acted as the exclusive M&A advisor to Joe & Ross, and the transaction was led by Bob Contaldo, Managing Partner, and Matt Crabtree, Senior Associate. The transaction was completed on June 28, 2024.
About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. www.xlcspartners.com
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Kendra Span
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SOURCE XLCS Partners, Inc.
