Castle Harlan acquires Gold Star Foods from Prospect Partners


california_170sqCastle Harlan has bought nutritional food distributor Gold Star Foods from fellow private equity firm Prospect Partners.

The Ontario, California-based company serves 380 school districts in California, Arizona and Nevada, enabling more than 3,500 schools to provide nutritional meals through federal and state programs for breakfasts and lunches.

Gold Star buys products from more than 600 food manufacturers and farms and sells over 6,000 products of fresh bread and produce, as well as refrigerated, frozen and dry menu items.

Castle Harlan co-president Bill Pruellage said, “Gold Star is a proven leader in the stable and moderately growing school food distribution market, and it promotes healthy nutritional meals to its customers.

“Gold Star has the scale to acquire smaller competitors in a fragmented market, as well as to expand into newer territories, such as Northern California and other Western states, additional product lines and new end-markets.”

Last December Castle Harlan appointed Old City Investment Partners managing director Hemali Dassani as its new director of investor relations.

Copyright © 2014 AltAssets