PNC Riverarch Capital Acquires Empire Group from Kian Capital Partners

Empire Equipment Company Acquires Empire Bakery Equipment Co.

July 14, 2023

Logistics & Distribution

Raleigh, North Carolina-based Empire Equipment Company has acquired Long Island, New York-based Empire Bakery Equipment Co., expanding its wholesale distribution platform for commercial foodservice and bakery equipment. The deal adds scale in the Northeast and increases Empire's nationwide footprint to twelve distribution locations; Empire is backed by PNC Riverarch.

PNC Riverarch Capital Acquires The Perfect Purée of Napa Valley from SBJ Capital

January 9, 2024

Food & Beverage

PNC Riverarch Capital has acquired The Perfect Purée of Napa Valley from SBJ Capital, with co-investors The Hillman Company and PPM America. Riverarch will partner with co-presidents Michele Lex and Medhane Kidane to support accelerated growth; senior debt was provided by Apogem and NXT Capital and Harris Williams advised the seller.

PNC Riverarch Capital Acquires Fresh Direct Produce from HKW

August 11, 2021

Food & Beverage

PNC Riverarch Capital has acquired Fresh Direct Produce, Ltd., a Vancouver-based distributor of fresh, ethnic, tropical, organic and specialty produce, from HKW. HKW had partnered with Fresh Direct Produce in December 2018 and during the investment period the company completed three add-on acquisitions and strengthened its operations; Truist Securities and Taft Stettinius & Hollister served as advisors on the sale.

PNC Riverarch Capital Acquires Messenger Holdings, LLC

February 8, 2022

Consumer Products

PNC Riverarch Capital has acquired Messenger Holdings, LLC, a 110+-year-old manufacturer and marketer of memorialization products and provider of tech-enabled services to funeral homes. Financial terms were not disclosed; Messenger is headquartered in Auburn, Indiana and will be partnered with Riverarch to support accelerated growth and expand its product and technology offerings.

PNC Riverarch Capital Acquires Backerhaus Veit from Swander Pace Capital

January 9, 2023

Food & Beverage

PNC Riverarch Capital has completed the acquisition of Backerhaus Veit, Ltd. from Swander Pace Capital. Backerhaus Veit is a North American producer of artisan European-style breads, rolls and soft pretzels; the transaction transfers ownership from Swander Pace as the company enters its next growth phase under PNC Riverarch.

GPM Investments and ARKO Acquire Empire Petroleum Partners from Riveria Investment Group

October 31, 2020

Oil & Gas

Riveria Investment Group has sold Empire Petroleum Partners, LLC to GPM Investments, with ARKO/Arko Holdings involved in the transaction. Empire Petroleum is a wholesale fuel distributor operating in 31 states and more than 80 convenience stores; Riveria described the deal as a successful exit.