Irvine-based food processor and distributor Golden State Foods Corp. acquired Gateway Distribution Inc. of Lebanon, Ill.
The buy adds to its operations in the Midwest and expands its business with McDonald’s Corp.
Golden State will continue Gateway’s business of servicing more than 350 McDonald’s restaurants in Illinois, Indiana, Iowa, Kentucky and Missouri. And Gateway’s 160 workers will boost Golden State Foods’ headcount to approximately 4,500 worldwide, including about 50 at its Irvine headquarters.
McDonald’s has been a key Golden State customer since the 1950s and accounts for the bulk of the company’s revenue, which recently topped $5.4 billion and is expected to grow to about $6 billion following the Gateway acquisition.
Golden State services more than 25,000 fast-food restaurants and stores in 50 countries. Its roster of customers includes Starbucks Corp., Yum! Brands Inc. and Chick-fil-A.
The acquisition follows the retirement of Gateway’s chief executive, Bill Dowling.
—Jane Yu
