Montage Partners Announces Investment in RDD Associates
TOTOWA, NJ – Montage Partners, a people-first private equity firm based in Scottsdale, Arizona, is pleased to announce its investment in RDD Associates (“RDD” or the “Company”), a leading provider of sales, marketing, and brokerage services for perishables-focused food manufacturers in the northeast. RDD’s founder, Bob Cignarella, will continue to own a significant stake in the Company and lead RDD as CEO.
Founded in 1998, RDD has since multiplied its portfolio of category-leading brands, and now represents more than 70 of the top U.S. perishables food brands across dairy, deli, meat, seafood, bakery, produce, and frozen categories. Over its 24-year history, the Company has cultivated a reputation for excellent, high-touch service for its food manufacturer clients and created deeply engrained relationships with food retailers, particularly in the New York metropolitan area. Across RDD’s 85 professionals, the average employee tenure is 12 years which has provided RDD’s clients with unmatched industry experience and expertise.
“I am delighted to announce the investment in RDD by Montage Partners. From our early conversations, it was clear they would value our legacy, employees, and clients as much as I do, and we are aligned on the exciting future the Company has in store,” stated Cignarella. “Nothing about the way we operate or interact with our clients will be changing; we’ll continue to be the premier player in perishables in the northeast, and our employees will remain intact with the same extraordinary dedication to serving our clients.”
Future growth plans include exploring both organic and inorganic geographic or retail channel expansion without losing the frequent touchpoints clients value, as well as potentially expanding the Company’s ability to service existing and new clients across different product divisions – all of which require investment in additional resources.
“We are excited to partner with Bob and the rest of the management team to invest in a company that is so dedicated to client care,” Rob Wolfman, co-Managing Partner of Montage Partners, commented. “It’s remarkable to align with a company that has such a longstanding leadership team in place – over 150 years in the industry combined – and top clients that have been with the company since inception. It truly speaks to the culture that Bob and his team have developed, which fits perfectly with our people-first ethos.”
The transaction closed on June 30, 2022. Osborn Maledon, P.A. provided legal counsel to Montage Partners. RDD Associates was advised by North River Advisors, LLC and Lindabury, McCormick, Estabrook & Cooper, P.C. provided legal counsel.
About Montage Partners
Founded in 2004 and headquartered in Scottsdale, Arizona, Montage Partners is a people-first private equity firm dedicated to helping established businesses reach transformative growth. Montage Partners invests in companies in diverse industries, including business services, consumer, healthcare, industrial, and technology. Above all other investment criteria, Montage Partners invests in exceptional people. Montage Partners is actively seeking new investments in companies in the U.S. with EBITDA between $1 million and $5 million.