Securing Value
- Mergers & Acquisitions – Quality of Earnings / Sell Side Preparation
- Post-Acquisition Working Capital / Earnout Disputes Resolution
- Corporate Governance, Interim C-Suite & CFO Services
- Distressed – Operational Turnarounds & Financial Restructuring
- Profitability Improvement / Value Enhancement
Transaction Announcement
Avant Advisory Group acted as exclusive M&A Advisor to Elite Global Solutions, Inc. in its acquisition by CFS Brands.
December 28, 2022
Newport Beach, CA – Avant Advisory Group — is pleased to announce the sale of Elite Global Solutions, Inc. (or “Elite”) to CFS Brands (“CFS”), one of the largest partner suppliers to the Food Service, Healthcare and Hygiene industries. CFS provides customers with innovative solutions, and quality service.
Elite which was founded in 2003 and headquartered in Foothill Ranch, California, has established its reputation as the innovator in the industry who designs and provides customers creative melamine products that include dinnerware, serveware, drinkware and accessories for the foodservice, leisure, retail, and hospitality industries.
Avant Advisory Group served as the exclusive financial advisor to Elite Global Solutions in the transaction.
By joining CFS Brands, Elite will be a standalone entity within CFS Brands. For the immediate future, both customers and suppliers will continue to interact with both CFS and Elite as they have in the past.
Gary Mazzone, CEO of Elite stated: “We consider it an honor and privilege to join CFS Brands. We are so excited to become a part of the team and build a portfolio of front of the house brands that enhance CFS’s existing products. This combination will facilitate tremendous growth for both brands and will open us up to new markets.
Trent Freiberg, CEO of CFS Brands, commented, “Elite Global Solutions is the established leader in premium melamine products used in the dining areas of restaurants, hotels, foodservice operators, supermarkets, and caterers. Elite is the perfect complimentary addition to our existing smallwares portfolio and further enhances our ability to offer comprehensive solutions for our customers. We are excited to work with the current leadership team at Elite, and we welcome all Elite employees to CFS Brands.”
Jim Davidson, Founder and President of Avant Advisory Group, said: “We are privileged to have worked with Gary Mazzone and his amazing team in preparation for and in execution of this transaction with CFS brands, a portfolio company of The Jordan Company. For one year, we spent countless hours working closely with Gary and Jacquie Vogt (“CFO”) in helping to create more value for what was already an impressive sales, marketing, and distribution company. We are immensely grateful for the opportunity to have worked together with such an outstanding Elite team and in helping to facilitate this transaction with an impressive CFS executive team.”
Gary Mazzone commented on working with the Avant Advisory Group team:
“The work Avant Advisory Group has done to make this acquisition work far exceeded my expectations. The quality of the Avant team and the work performed in preparing Elite throughout the past year was exceptional in every way. More importantly, the friendship and trust that Avant developed with both my team and with me has been amazing. It is my privilege to recommend Avant and the values by which the firm operates to anyone considering seeking the results Avant achieved for us. It was an absolute pleasure to work with each person on the Avant team, and Jim Davidson is more than the best consultant/advisor. He has also become my friend.”