PBC Announces Partnership with Harold Levinson Associates

September 9, 2014

FARMINGDALE, NY – September 9, 2014 – Harold Levinson Associates, one of the nation’s largest full-line distributors to convenience stores and tobacco shops, announced today that Palm Beach Capital Fund III, L.P., through one of its investment entities, has agreed to make an investment in the company. The transaction is expected to close within the next thirty days. Financial terms were not disclosed.

“Palm Beach Capital shares our same customer-centric philosophy, entrepreneurial spirit and dedication to growth,” stated Ed Berro, Chief Executive Officer and cofounder of the company. “With their experience and capital, we plan to continue the aggressive growth of the company both organically and through strategic partnerships for years to come. We are all excited to welcome our new partners into the HLA family.”

“What the management team at HLA has built over the years is truly remarkable,” commented Mike Schmickle, Palm Beach Capital. “With the Berros and Barry Feldman leading the way, we look forward to assisting the company with the execution of its long-term growth plans. Palm Beach Capital will target strategic acquisitions and partnerships that adhere to the same philosophies and culture that have been the recipe for success at HLA for almost forty years.”

About Harold Levinson Associates

Founded in 1977, Harold Levinson Associates is a leading distributor to the convenience store industry and provides candy, cigarettes and cigars, and frozen and refrigerated foods, as well as its own Island Coffee brand of coffee products to its over 12,500 customers located throughout the United States. Currently ranked as the 5th largest wholesaler to the convenience store industry, the company services its customers from six strategic distribution centers located in New York, Massachusetts, Connecticut, New Jersey and Pennsylvania. For more information, please visit the company’s
website at www.hladist.com.

About Palm Beach Capital

Founded in 2001, Palm Beach Capital is a private equity investment firm that partners with management teams in middle market recapitalizations and growth equity investments. With offices in both West Palm Beach and Tampa, Florida, the firm focuses on high growth investment opportunities. Since its inception, Palm Beach Capital has made investments in 41 companies. For more information, please visit the firm’s website at www.pbcap.com.

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