American Capital, Ltd., Bethesda, Md., announced that its portfolio company SMG Holdings, Inc., West Conshohocken, Pa., acquired Premier Food Services, a San Diego, Calif.-based provider of outsourced food and beverage services to the entertainment and conference venue management industry.
"As a global venue management company, SMG manages a large and broad portfolio of venues with exceptional diversity across event type, end market, attendee population demographic and geography," says Brian Graff, senior managing director for American Capital. "Its acquisition of Premier provides SMG with an attractive opportunity to expand its foodservice offering outside of its core portfolio of arenas, stadiums and convention centers into business dining, schools and colleges, fairgrounds and off-premise catering."
"By combining Premier's solid presence in the San Diego market, business dining credentials and experience with SMG's national reach and extensive resources, SMG will be in a significantly stronger position to attract niche business dining foodservice contracts in southern California as well as across the country," said Helen Yang, managing director for American Capital.
"Premier is a perfect fit for our California SAVOR food business, which includes the Long Beach Convention Center, The Aquarium of the Pacific, the Long Beach Grand Prix, the Moscone Center, the Ontario Convention Center and Fresno State University. This acquisition will also provide a base of business to further expand SMG's SAVOR brand nationally," says Wes Westley, SMG president and CEO.