Future Food, Ltd.
Founded in 1984, Future Food is a supplier of seafood salads, dips, and spreads to grocery stores and other retailers. Two of the principals of PEP participated in the acquisition of Future Food in November 1999. During the ensuing years the company created an internal accounting department , added a sales organization, changed its product mix, expanded its customer base and made a strategic acquisition. As a result, revenues grew at 19% annually and profits expanded at 10% annually over the five years of ownership. The business was sold in July 2004 for a significant multiple of capital invested.