Halperns' Purveyors of Steak and Seafood Acquires Gary's Seafood and Specialties

Atlanta-based provider of center-of-the-plate proteins joins forces with Orlando-based provider of fresh seafood and specialty products

ATLANTA (December 6, 2012) - Halperns' Purveyors of Steak and Seafood announced today the acquisition of Orlando, Fla. based Gary's Seafood and Specialties. The new division of Halperns' Steak and Seafood will operate under the name Halperns' Steak and Gary's Seafood Central Florida, strengthening both companies' previous positions across Florida, the Caribbean and select United States markets.

"We have been looking for the right partner to expand our fresh seafood and specialty operations and we know we have found the right fit with the Gary's Seafood team," said Howard I. Halpern, chairman of Halperns' Purveyors of Steak and Seafood. "Gary Reed, Lorraine Reed, Darryl Reed and Mitch Rice have built the business on a foundation of customer satisfaction, a quality that is imperative in any business relationship we enter. Additionally, Gary's Seafood operates in lock step with Halperns' commitment to procuring only the very finest in fresh, authentic fish and seafood. Combined, our purchasing power will allow Halperns' to pass the quality, selection and savings to our entire customer base."

Family owned and operated in Orlando, Fla., Gary's has a reputation around the world for being simply the best. "Famous by word of mouth," Gary's products can be found on menus of the most discerning chefs from Key West, to New York, to San Francisco and throughout the Caribbean Islands.

"We feel that by combining our two companies, we have a great opportunity to do a wonderful job in a growing market," said Gary Reed, CEO of Gary's Seafood and Specialties, the company he started in 1989. "Capitalizing on and fusing the respective strengths of each company offers a tremendous opportunity to our customers."

Mitch Rice, general manager of Gary's Seafood, says, "I'm excited to work with Howard Halpern and his team because I know we can learn a lot from them. When Gary, Darryl and I visited the Halperns' facility in Atlanta last spring, we were blown away by how they have integrated their fresh fish operation with latest state-of-the-industry technology. They bar code and source verify everything that comes out of the waters and follow the product through their warehouse and cutting to each customer. We took one look at this and knew they were setting the bar for the competition and wanted to get on board."

"This acquisition will present our current customer base with more opportunities to purchase an expanded portfolio of beef, veal, lamb and center-of-the-plate protein. This is a win-win for everyone involved, including our customers, vendors and employees," said Darryl Reed, director of purchasing of Gary's Seafood.

Halperns' plans to expand its operations across Central and West Coast Florida and the Caribbean, as well as other parts of the region. Warren Wood, longtime industry veteran and general manager of Halperns' Central Florida, comments, "We are joining two incredibly strong and proven teams from Gary's and Halperns' to surpass our already exemplary levels of customer satisfaction to the expanding marketplace satisfied by both companies."

Howard Halpern, chairman of Halperns' Steak and Seafood, stated, "In keeping with our operating philosophy, Gary, Mitch, Darryl and Warren Wood will be the operating partners of Halperns' Steak and Gary's Seafood with Gary serving as president and chief operating officer. Laura Barnard, chief financial officer of Halperns' Steak and Seafood, will lead the integration of this operating company as the direct report.

"Halperns' purchased the assets of Gary's Seafood and Specialties with an effective close date of December 2, 2012," Barnard says. "Halperns' plans on utilizing the combined talents of both companies to add fresh fish and seafood departments to the Baltimore, Md., Maryland Quality Meats company which serves the Mid Atlantic market along with Halperns' Southeast Florida, which is located in Fort Lauderdale, Fla. Halperns' acquired Maryland Quality Meats in October of 2012, naming the previous owner and chief executive officer Russell Niller president and chief operating officer of Halperns' Mid Atlantic while previous executive team members Terry McDonnell and Dennis Steele now serve as operating partners of the new division. In addition, Halperns' acquired K&G Brothers based in Fort Lauderdale, Fla., in January of 2012. The company was owned by Glen Miciotta and Keith Fishman, who are now operating partners of Halperns' Southeast Florida along with Howard Horn, president and chief operating officer. Following the southeast Florida acquisition, Halperns' doubled the size of the K&G facility and combined Halperns' existing southeast Florida business with K&G Brothers' business."

Halperns' Purveyors of Steak and Seafood is located at 4685 Welcome All Road in Atlanta. For more information, call 404-767-9229 or visit www.halperns.com

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