PAK Quality Foods Acquires Formosa Foods

PAK Quality Foods Acquires H&R Foods (Vernon Transportation / AmTex H&R Foods)

December 18, 2025

Food & Beverage

PAK Quality Foods LLC, a portfolio company of Cross Rapids Capital, has acquired substantially all assets of Vernon Transportation LP and AmTex H&R Foods LLP, which operate as H&R Foods, a regional food distributor based in Amarillo, Texas. The deal expands PAK Quality Foods’ product and service offerings and broadens its customer footprint across Texas and neighboring states; H&R Foods’ leadership (John and Barry Vernon) will remain with the business.

Cross Rapids Capital Recapitalizes PAK Quality Foods (including FrigiServe)

January 2, 2024

Food & Beverage

An affiliate of Cross Rapids Capital completed an equity recapitalization of PAK Quality Foods, LLC (which includes D Bar Cold Storage d/b/a FrigiServe). The transaction brings in Cross Rapids' capital and resources to support growth and expansion; John Pieper was appointed CEO while founders Gary and Patty Stokes remain significant shareholders. Debt for the recapitalization was provided by Maranon Capital L.P. and Manulife Investment Management.

Formosa Laboratories Acquires SynChem to Expand North American CDMO Footprint

June 3, 2024

Pharmaceuticals

Formosa Laboratories, Inc., a Taiwan-based API supplier and CDMO, has completed its acquisition of SynChem, Inc., a contract research laboratory in suburban Chicago. SynChem will operate as SynChem-Formosa with Dr. W. Paul Mar remaining as CEO as the combined operations expand Formosa's US CDMO capabilities for small-molecule APIs and ADC-related chemistries.

ProAmpac Acquires Specialty Packaging, Inc.

May 23, 2022

Packaging

ProAmpac, a Cincinnati-based flexible packaging manufacturer owned by Pritzker Private Capital, has acquired Specialty Packaging, Inc., a family-owned paper, film and foil packaging manufacturer based in Fort Worth, Texas. The acquisition expands ProAmpac's paper bag converting capacity, broadens its recyclable foodservice packaging portfolio and extends its footprint into the southwestern United States.

Kelso & Company Acquires Ferraro Foods from Kainos Capital

April 6, 2021

Food & Beverage

Funds managed by Kelso & Company acquired Ferraro Foods, a Piscataway, New Jersey-based specialty foodservice distributor focused on Italian restaurants and pizzerias, from Kainos Capital in April 2021. Ferraro operates seven distribution centers, sources roughly 7,000 SKUs, and serves thousands of independent restaurant customers across the U.S. East Coast; Kelso intends to support continued platform growth and consolidation in the specialty distribution space.

Red Arts Capital Acquires Freshway Foods from US Foods

March 13, 2025

Food & Beverage

Chicago-based private equity firm Red Arts Capital has acquired Freshway Foods, a fresh-cut processing, repacking and logistics provider operating in the eastern United States, from US Foods. Red Arts said it will provide strategic, financial and organizational support while Freshway's current president, Devon Beer, will remain in place to continue the company's operations and growth.