Palladium Equity Partners, a NYC-based investment firm, acquired a majority stake in Source Logistics, a Montebello, CA-based provider of value-added warehousing, distribution and fulfillment third-party logistics (3PL) services to the consumer goods sector with a focus on Hispanic food and beverage brands.
The amount of the deal was not disclosed.
Led by CEO Marcelo Sada, Source Logistics is a technology and customer-oriented company established in 1999 to provide logistics and supply chain solutions. Through the years, the company has expanded its footprint and offerings to include omni-channel distribution, warehousing, value-added services and transportation. Today, Source Logistics serves a wide range of industries, including food and beverage, health and beauty, consumer retail, medical, manufacturing and technology. The company serves its customers from 12 strategically-located facilities, representing more than 2.3 million square feet, across four states – California, Texas, New Jersey and Oregon.
Commenting on the news, Raul Villarreal, COO of Source Logistics, said: “The new partnership with Palladium serves as an excellent opportunity not only to consider the path ahead, but to reflect on the amazing contributions of our customers and colleagues to Source Logistics’ growth to date. We are excited to further differentiate our offering and exceed our customers’ expectations as we move forward.”
FinSMEs
03/11/2023