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Foodservice Distributor Pate Dawson Company to Acquire Certain Assets of Southern Foods Group

GOLDSBORO, NC (July 2, 2010)—Foodservice distributor Pate Dawson Company announced today it has acquired certain assets of fellow North Carolina independent food distributor Southern Foods Group.

Pate Dawson created a subsidiary, Meat and Seafood Solutions, LLC, to acquire specific assets of Southern Foods and will build on the strengths of the two well-known names in the marketplace, according to Pate Dawson Chief Executive Officer Malcolm “Mac” Sullivan. Sullivan will become the chief executive officer of Meat and Seafood Solutions while remaining in that role with parent company Pate Dawson. The new company will also have the rights to use the Southern Foods name.

“By building upon the complementary strengths of these two food service businesses, we’ll benefit both sets of customers by providing better buying opportunities to help them manage their food costs,” said Sullivan.

The Pate Dawson and Southern Foods names together provide more than 180 years of experience in the food service distribution business, anchored by Pate Dawson’s 125 years of operations and ownership by the fourth generation of the company’s founding family headquartered in Goldsboro. Southern Foods was founded in Greensboro in 1954.

“The Pate Dawson footprint fits perfectly with those assets we’ve acquired of Southern Foods,” Sullivan noted. “Pate Dawson brings a full, broad line of products and categories that complement the center-of-plate and specialty goods which have been the hallmark of Southern Foods, in the form of fresh-cut aged steaks, fine-dining product lines, Certified Angus Beef® and fresh seafood.“

Meat and Seafood Solutions and Pate Dawson will service customers from distribution centers in Goldsboro, Greensboro and Atlanta. Together, the two companies will stock more than 10,000 items and expect product and service offerings to customers to continue to grow. Both will also build on the ‘custom-cut’ capabilities of the USDA-inspected facility in Greensboro, offering fresh-cut meats and seafood, processed to customer specifications.

In addition to Sullivan’s leadership role, Jim Cremins, who is vice president of sales and marketing at Pate Dawson, will become chief operating officer of Meat and Seafood Solutions.

“We believe that creation of this new company means we can bring even greater value to our customers while allowing us as a company to be better positioned for a bright future,” said Sullivan.

For more information about Pate Dawson Company, visit www.pdco.com. For media inquiries contact Rick Rountree at Rountree Communications at 919-878-1144 or rick@rickrountree.com

Pate Dawson was assisted in the transaction by Keiter Stephens Advisors, a Richmond based firm specializing in merger, acquisition and other financial services to the foodservice distribution industry.

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