Palm Beach Capital Fund III, L.P., West Palm Beach, Fla., announced an investment in Consumer Products Distributors, LLC (dba J. Polep Distribution Services), Chicopee, Mass., and Rachael’s Food LLC, Chicopee, Mass.
J. Polep distributes fresh sandwiches, salads and grocery items to convenience store retailers.
“We are excited about the future growth of J. Polep Distribution Services and our partnership with Palm Beach Capital,” says Eric Polep, president and CEO of Palm Beach Capital. “Our focus will remain our steadfast dedication to the customers we service and to the products they deliver, with the goal of making sure each of our customers and vendors achieve long-term success. Business will run as usual at J. Polep, and this new partnership with Palm Beach Capital will only enhance our capabilities and unparalleled customer service.”
“Knowing that Palm Beach Capital believes in our family culture and the philosophies we carry has made this partnership extremely reassuring. We believe in the value of commitment to our people, while creating opportunities for our clients, team and the industry, and nothing is going to change that,” adds Jeff Polep, chairman of J. Polep.
“Our strategy is to invest in solid management teams and assist them in their long-term strategic growth plans. The management team at J. Polep and the family culture it exemplifies with its customers, vendors and employees, embodies the values that we seek in a partner,” says Mike Schmickle, partner at Palm Beach Capital. “Having made our initial venture into the convenience distribution space in 2014 with our investment in New York-based Harold Levinson Associates, we have identified the industry as one that is uniquely positioned for growth and consolidation. J. Polep and HLA will both become independent members of our new convenience distribution division and we intend to add additional members in the future.”