One Rock Capital Partners Sells Orion Food Systems to Performance Food Group

NEW YORK, July 25, 2023 – One Rock Capital Partners, LLC (“One Rock” or the “Firm”), a value-oriented, operationally focused private equity firm, today announced the sale of its portfolio company Orion Food Systems Holdings, LLC and its related subsidiaries (collectively, “OLM” or the “Company”) to an affiliate of Performance Food Group, Inc. (“PFG”).  Financial terms of the transaction were not disclosed.

Founded in 1983, OLM is a leading manufacturer and distributor of pizza, sandwiches, breakfast and snack solutions primarily for foodservice applications in convenience stores and similar out-of-home venues in the U.S. and abroad.

“Over the course of our investment, OLM has grown substantially by innovating ways to better serve a growing customer base in the highly attractive convenience foodservice sector,” said Kurt H. Beyer, Partner at One Rock.  “In collaboration with our Operating Partners, OLM management expanded the business both organically and through acquisition.  The Company developed new food concepts and deployed value-added technology to enhance the consumer experience for convenience channel customers.  As a result, we believe OLM is well-positioned to capitalize on further growth opportunities in its next chapter as a part of PFG,” added One Rock Partner Jack Rosenberg.

One Rock’s Operating Partners Frank Orfanello, Kurt Barker, Steve Ingham, Brian Potts, AJ Skobel and Adam Feuer have worked closely with management to drive the business’s strategic direction, create an improved go‐to‐market strategy, increase manufacturing efficiencies and support the integration of a transformative acquisition.

William Blair & Co. served as financial advisor to both OLM and One Rock on the transaction. Latham & Watkins LLP served as legal advisor to OLM and One Rock.


One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.

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OLM is a leading provider and distributor of high-quality foodservice solutions to the c-store industry, servicing over 1,500 convenience stores as well as co-manufacturing customers across the U.S. and abroad. OLM’s offering includes a diverse portfolio of branded solutions including Hot Stuff Kitchen, pcpizza, Papa Primo’s, Day’N Night Bites and private label solutions. OLM specializes in the latest technology and marketing to empower their customers’ growth. OLM strives to craft genuine partnerships in making people’s lives easier by conveniently providing delicious and accessible food.

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