Imperial Dade Announces Closing of $660 Million Senior Notes Offering by BCPE Empire Topco, Inc.

JERSEY CITY, N.J.--(BUSINESS WIRE)--Imperial Dade, a leading independently owned and operated specialty distributor of foodservice packaging and janitorial sanitation supplies in the United States and Puerto Rico (the “Company”), today announced that its holding company, BCPE Empire Topco, Inc., has closed a private offering (the “Offering”) of $660 million aggregate principal amount of its new senior notes due 2027 (the “Notes”).

The Offering represents an important milestone and provides additional financial flexibility for the Company to continue to execute on its acquisition and organic growth strategy. Since CEO Robert Tillis and President Jason Tillis assumed their roles in 2007, the Company has completed 34 acquisitions and grown from a single location to over eighty nationwide. “We believe this refinancing will help support our acquisition strategy and the continued build-out of our national platform,” said Jason Tillis, President of Imperial Dade.

The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act.

A confidential offering memorandum for the Offering of the Notes has been made available to such eligible persons. The Offering was conducted in accordance with the terms and subject to the conditions set forth in such confidential offering memorandum. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes. Any offers of the Notes will be made only by means of the confidential offering memorandum. The Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

About Imperial Dade

Founded in 1935, the Company serves more than 65,000 customers across the United States and Puerto Rico. Since CEO Robert Tillis and President Jason Tillis assumed their roles in 2007, the Company has grown both organically and through acquisitions to become a leader in the foodservice packaging and janitorial sanitation supplies industry.

Forward-Looking Statements

This release contains “forward-looking statements” related to future, not past, events. These forward-looking statements are often identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will” and other similar words or expressions. Statements regarding the Offering and the use of proceeds from the Offering are forward-looking by their nature.

Forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ materially from the Company’s expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company’s actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to consummate the Offering on favorable terms, if at all, and general market conditions (including the COVID-19 pandemic and related economic impact) which might affect the Offering. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.