Trusthouse Services Group has announced a merger with A'viands Food and Services Management LLC and its wholly owned subsidiary Summit Food Services LLC. The transaction is scheduled to close in early August.
A'viands, a foodservice management company headquartered in Roseville, MN, has some 200 client accounts across 13 states and generates more than $90 million in annual revenue. It operates in multiple segments, including corrections, senior dining, K-12 schools, colleges, hospitals and B&I. Charlotte, NC-based Trusthouse, with more than 200 clients across 22 states, operates primarily in the healthcare and education markets (encompassing both K-12 and colleges).
"We are absolutely delighted with this transaction," says Trusthouse Chairman/CEO Michael Bailey. "It is truly a significant startegic milestone for both companies, allowing us to achieve significant critical mass, with combined annual revenue in excess of $200 million, operating in 32 states. We are also excited that A'viands will expand Trusthouse's services into the corrections market."
Going forward, A'viands will continue to operate as a standalone division managed by current CEO Perry Rynders and his team. "We are also very excited about the transaction, as this is a great step forward for A'viands," says Rynders. "A'viands will continue as an autonomous operation within the Trusthouse Services Group, and out focus will remain very much business as usual. Trusthouse provides broader access to capital and additional resources to help us drive A'viands forward. Our combined strength will create greater opportunity for our clients and for all of our stakeholders."