Minneapolis-based private equity firm ShoreView announced Dec. 23 that it has sold Cornerstone Foodservice Group — a distributor, designer and manufacturer of small commercial foodservice equipment, induction and ventless solutions, sneeze guards and premium pizza pans and bakeware.
Headquartered in Naperville, IL, CFG is comprised of a family of brands — Spring USA, Astra Manufacturing, LloydPans, Versa-Gard and Equipex — that cater to the restaurant, hotel, convenience and grocery and bakery industries.Â
ShoreView made a strategic investment in CFG in 2016 back when it was known only as Spring Corporation and a designer and provider of foodservice equipment for the hospitality sector. Since then, CFG has completed four add-on acquisitions.
The PE firm said it has existed its investment in CFG to another strategic investor.
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