LOS ANGELES - Smart & Final Inc. has announced the recent acquisition through one of its units of the assets of two meat-processing companies based in Florida and several key senior management promotions at its Florida-based foodservice distributor, the Henry Lee Co.
The assets of Southern Foods and Orlando Foodservice Inc./Capricorn Foods of Central Florida Inc., both USDA processors of portion-control beef, pork, lamb, veal and poultry, were acquired. These two acquisitions will add approximately $50 million in annual sales.
In conjunction with the continued growth of Smart & Final's stores and foodservice distribution business, Mike Primrose, 46, formerly executive vice president and chief operating officer, was promoted to president and chief executive officer of Henry Lee. In this capacity, he will oversee daily operations for both Henry Lee and Florida Smart & Final's store operations.
Primrose served as president of Alliant Foodservice in Indianapolis prior to joining Henry Lee earlier this year.
Ed Sternlieb, 51, who most recently served as Henry Lee's president, has been promoted to the position of chairman and will concentrate on the strategic positioning of the company's Florida operations.
Roger M. Laverty III, president and chief executive officer of Smart & Final, stated: "Mike Primrose's promotion allows us to consolidate operating responsibility for both businesses under one individual for greater operating efficiency. This will allow Ed Sternlieb to take a broader look at the business and develop long-term strategies."
Southern Foods, acquired from Continental Grain, is located in Opa Locka, near Henry Lee's 235,000-square-foot Miami facility. Southern Foods has serviced South Florida for 25 years and boasts annual sales of more than $40 million. The Southern Foods division will be led by president Alex Caras, and will supply Henry Lee with quality center-of-the-plate products for their South Florida business.
Orlando/Capricorn Foods, located just six miles from Henry Lee's new, 160,000-square-foot Orlando, Fla., warehouse, had sales of $10 million in 1996. Orlando/Capricorn Foods delivers to a distinguished customer base in Orlando and enjoys an outstanding reputation for quality products and services. Led by President Michael Altif, the Orlando/Capricorn Foods division will supply quality protein products for Henry Lee's Central Florida customers.
"Our affiliation with these two top-notch meat companies will be a tremendous opportunity for Henry Lee and Smart & Final," said Primrose. "We are now better equipped to compete in the important `center-of-the-plate' category and become a more valuable supplier to our customers."
Other management announcements at Henry Lee include the promotion of Mickey Biggs from vice president of sales to the newly created position of senior vice president of sales and marketing. And Al Sutherland, most recently vice president of finance, has been promoted to senior vice president of finance/chief financial officer.
Henry Lee was founded in 1946 by Henry Sternlieb, Ed Sternlieb's father, and acquired by Smart & Final in 1994. Today, the company serves 3,700 active delivery customers and provides product delivery to 10 Florida Smart & Final stores. Henry Lee's sales for fiscal year 1996 were $198 million.
With headquarters in Los Angeles, Smart & Final operates more than 170 non-membership warehouse grocery stores in California, Arizona, Nevada, Florida and Northern Mexico, in addition to its foodservice distribution businesses. Sales for fiscal year 1996 were $1.3 billion. For more information, visit Smart & Final's Web site at www.smartandfinal.com .
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