WARREN, MICHIGAN – Lipari Foods (“Lipari” or the “Company”), a leading specialty food distributor, is pleased to announce the appointment of Stuart Schuette as its next Chief Executive Officer, effective September 16, 2024. Mr. Schuette succeeds interim Chief Executive Officer, John Boucher, who stepped in for Thom Lipari, the Company’s previous Chief Executive Officer for over 30 years, as part of a contemplated leadership succession plan. Mr. Lipari was instrumental in establishing Lipari’s strong culture, driving its unwavering commitment to its customers and suppliers, and growing the Company into a leading specialty food distribution platform. Mr. Schuette will join Messrs. Lipari and Boucher on the Company’s board of directors. Lipari Foods is a portfolio company of Greenwich, CT-based private equity firm, Littlejohn & Co., LLC (“Littlejohn”).
Mr. Schuette is a proven executive with a 30-year track record of driving organic and inorganic growth in distribution businesses across several industries, including food distribution. He most recently served as the President and Chief Executive Officer of American Tire Distributors (“ATD”), the largest independent supplier of tires to the replacement tire market.
Prior to ATD, Mr. Schuette spent over 20 years at US Foods (NYSE: USFD), one of the largest foodservice distribution platforms in the United States. During his tenure, he held key leadership positions in sales, finance, and operations, ultimately serving as Chief Operating Officer for over seven years. At US Foods, he successfully led a transformational shift to position the business for sustained growth and industry leadership. Prior to joining US Foods, Mr. Schuette was an executive at Martin Brower, a subsidiary of Reyes Holdings, the world’s largest distributor of products to McDonald’s restaurants and other foodservice customers.
“I am excited to join Lipari Foods and help lead the Company in its next phase of growth,” said Mr. Schuette. “The Company’s incredible legacy and strong reputation in the market, differentiated value proposition, committed team of employees, and numerous growth avenues make Lipari a very compelling opportunity.”
Tony Miranda, Managing Partner of Littlejohn and member of Lipari’s board of directors, added, “Stuart is an outstanding leader who brings substantial experience delivering profitable growth across a variety of distribution business models. We look forward to partnering with Stuart and the rest of the Lipari team to build upon the Company’s strong foundation, as they continue to execute Lipari’s growth strategy and further cement the Company’s position as a highly differentiated player in the specialty food ecosystem. On a personal level, on behalf of the entire Company and its partners, we would like to thank Thom Lipari for his 50 years of leadership and wish him well in retirement.”
About Lipari Foods
Founded in 1963, Lipari Foods is a leading, independent “perimeter‐of‐the‐store” food distributor and manufacturer, supplying over 25,000 products including deli, bakery, foodservice, specialty grocery, dairy, frozen seafood and meats, confections, international foods, and packaging items, to over 16,000 locations across the United States. Lipari has grown to approximately 2,300 employees and sources from over 2,700 suppliers. For more information about Lipari, visit www.liparifoods.com.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments in growing middle-market industrial and services companies that can benefit from Littlejohn’s 25+ years of operational and sector expertise. With approximately $7.9 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.
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