Xceed Foodservice Group Continues Expansion with Investment in Total Source

SAN FRANCISCO--(BUSINESS WIRE)--Xceed Foodservice Group (“Xceed”), a portfolio company of San Francisco Equity Partners (“SFEP”), today announced an investment in Total Source’s foodservice brokerage business operating in the Southwest, with representation in New Mexico, Arizona, Colorado, Montana and Nevada. The investment marks Xceed’s seventh since the platform was established last year. Terms of the transaction were not disclosed. The transaction excludes Total Source’s restaurant equipment business, which will continue to operate as a separate entity and collaborate with the Xceed platform.

Total Source’s management team will continue to operate the business and have retained significant equity ownership in Xceed. “Our service-oriented approach to partnership with our customers aligns perfectly with the culture at Xceed, and we are delighted to expand our service offering and geographic reach as part of the Xceed family,” said Terry Hughner, owner of Total Source.

“The investment in Total Source is Xceed’s second in the Southwest and positions us to help more food manufacturers achieve their national growth goals,” said Darin Pounds, CEO of Xceed. “Total Source’s team has a relentless focus on meeting their customers’ needs with a high-touch service approach. We are delighted to welcome their talented employees and customers into the Xceed family.”

About Xceed Foodservice Group

Xceed Foodservice Group is a brokerage organization that provides sales and marketing services to food suppliers within the foodservice ecosystem. Xceed has developed extensive coverage across the U.S. West Coast, Southwest, Midwest and Southeast, and focuses on providing its clients with localized market knowledge, access and engagement to enable sustained growth in the food-away-from-home space. The platform will continue to expand its geographical reach through partnerships with best-in-class regional foodservice brokerages in complementary markets. For more information, please visit https://www.xceedfoodservicegroup.com/.

About San Francisco Equity Partners

San Francisco Equity Partners is a private equity firm focused exclusively on partnering with lower middle market companies across the consumer value chain. To each of its partner companies, SFEP serves as an extension of the management team and provides both extensive operating experience and a broad network of relationships across the consumer landscape. For more information, please visit www.sfequitypartners.com.