ShoreView has successfully exited its investment in Cornerstone Foodservice Group, a leading foodservice equipment provider, after nine years of strategic growth and management enhancement.

Information on the Target

Cornerstone Foodservice Group (“CFG”), formerly known as Spring (U.S.A.) Corporation, is a prominent designer and provider of small foodservice equipment catering to the hospitality sector. Established to serve the needs of restaurants, hotels, convenience stores, and bakeries, CFG specializes in manufacturing and distributing a wide array of products, including commercial foodservice equipment, induction solutions, ventless solutions, sneezeguards, premium pizza pans, and bakeware. Headquartered in Naperville, Illinois, CFG has evolved to become a global leader in the foodservice equipment industry with production facilities located throughout the United States.

Since being acquired by ShoreView in September 2016, CFG has experienced substantial transformation and growth. ShoreView's strategic investments, effective leadership changes, and the implementation of a robust acquisition strategy have enabled CFG to diversify its offerings and enhance its market position, making it a key player in the foodservice equipment business.

Industry Overview in the Target’s Specific Country

The foodservice equipment market in the United States is characterized by high competition and continuous innovation. The increasing demand for high-quality food preparation and service equipment is driven by the hospitality industry's expansion, which includes restaurant