Boston, MA, December 3, 2020 – Burns & Levinson has closed a strategic growth investment from Warburg Pincus for client St. Petersburg, FL-based GA Foods, a leading provider of nutritional meals serving healthcare and senior customers. The deal, which was announced on September 23, 2020, closed on December 1, 2020. The growth investment will support GA Foods’ future strategic initiatives including continued investments in the healthcare sector and scaling the company's manufacturing and logistics footprint.
Founded in 1973, GA Foods is a specialized maker of highly specified meals serving the unique needs of healthcare members, seniors, children, the military, and for disaster relief efforts. The Company's services include meal design, food preparation & packaging, distribution, and integration with payor & provider systems for both home-delivered and congregate customers. These meals often contribute to these populations avoiding costly nursing home stays and hospital readmissions.
“The founders of GA Foods have built an impressive company that is now a leader in providing specialized meals in the expanding healthcare and senior care markets. There were many interested investment partners, but Warburg Pincus was the right match to help the company continue its accelerated growth,” said Burns & Levinson partner Josef Volman, who led GA Foods’ legal team. “It was a structurally complex deal with a number of legal issues that had to be resolved, but we were able to bring a highly-skilled team together to help our client continue on its growth trajectory in this multi-billion dollar industry.”
“Working with Joe and his team at Burns & Levinson was fantastic. They are truly pros when it comes to middle market M&A transactions. They were highly responsive and professional problem solvers and we would recommend them to anyone doing an M&A transaction,” said Glenn Davenport, CEO of GA Foods.
In addition to Burns & Levinson’s role at legal advisor for GA Foods, JMP Securities LLC acted as financial advisor. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor for Warburg Pincus.
About GA Foods
Headquartered in St. Petersburg, Fla., GA Foods has been preparing and delivering meals to older adults since 1973. GA Foods is committed to providing a cost-effective solution for health plans to provide healthy meals for Medicare and Medicaid enrollees. For more information, please visit www.GAFoods.com.