US-based ethnic food business Indo-European Foods (IEF) has been acquired by local peer Ziyad Brothers for an undisclosed sum.
Ziyad, a portfolio company of Peak Rock Capital, bought IEF from Corridor Capital.
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Commerce, California-based IEF imports and distributes food from the eastern Mediterranean and Middle East including spreads, dips and pickles brand Zeergut, houmous and chickpeas brand Al Wadi and Hellema, which manufactures biscuits and cookies.
IEF, which dates back to 1966, supplies more than 1,000 independent ethnic grocers, predominantly located in the western US, and national chains covering 45 states.
Ziyad Brothers, headquartered in Chicago and also dating back to 1966, runs a similar operation, importing and distributing food brands including packet rice and chermoula marinade supplier Wild Garden, olive oil brand Sultan and sweet pastry manufacturer Zalatimo Sweets. It has more than 800 SKUs and has facilities in Illinois, New Jersey and California.
Announcing the deal, investment bank and Brown Gibbons Lang & Company (BGL), which advised IEF, said the transaction “brings together two companies that we believe have highly complementary brand portfolios and geographic footprints, enabling both companies to offer customers an expanded assortment of products”.
It added: “The partnership is designed to also help IEF rapidly expand its national presence throughout key growth markets in the south and Midwest.”
Texas-based Peak Rock acquired Ziyad Brothers, which started life as a small bakery, in 2022, in partnership with the company’s management team and the Ziyad family.
