The Bronx, NY – December 8, 2023 – GlacierPoint Enterprises, Inc. (“GlacierPoint”), a portfolio company of Mill Point Capital LLC (“Mill Point”) and a leading full-service direct store delivery (“DSD”) distributor of ice cream and other frozen products throughout the Eastern Seaboard, announced today that it has acquired Cool River Beverages LLC (“Cool River”), a specialty beverage distribution platform in the New York Metro area.
“The Cool River acquisition is highly accretive to the GlacierPoint platform as it further expands our distribution solution with the addition of a broad beverage offering, immediately transforming us into a fully diversified logistics platform that includes both frozen foods and temperature-controlled beverages. Combined with GlacierPoint’s differentiated customer relationships, DSD distribution network and operational expertise, our new beverages segment will be a tremendous growth engine for the combined business going forward,” said Jim Schubauer, Chief Executive Officer and Executive Chairman of GlacierPoint.
Martin Kelly, Cool River founder and GlacierPoint board member, added, “the Cool River platform is poised for significant growth, and Jim and his team are the perfect group to lead the charge. I have witnessed GlacierPoint’s expansion firsthand over the last few years and I am excited by this combination. I look forward to supporting GlacierPoint’s continued success.”
“Our commercial partnership with both Cool River and Martin Kelly made this transaction a logical next step in GlacierPoint’s evolution. We are thrilled to diversify our platform and continue our support of GlacierPoint’s growth,” commented Jake Giuffrida, Vice President of Mill Point.
About Cool River Beverages LLC
Founded in 2019 by Martin Kelly and headquartered in The Bronx, NY, Cool River is the exclusive DSD distributor of Nestlé -branded beverages throughout the NY Metro area.
About GlacierPoint Enterprises
Headquartered in The Bronx, NY, GlacierPoint is a leader in DSD distribution, serving as the exclusive DSD distributor of Dreyer’s Grand Ice Cream and Unilever Ice Cream, featuring brands such as Häagen-Dazs, Ben & Jerry’s and Nestlé Ice Cream. In addition to ice cream, GlacierPoint also distributes a variety of fresh and frozen products, servicing a territory that spans from South Carolina to the U.S./Canadian border. GlacierPoint distributes to a broad customer base comprised of grocery store chains, independent supermarkets, delis, drugstores, convenience store chains and foodservice customers. GlacierPoint is recognized as a leading distribution partner to suppliers and retailers with an extensive history of dependability, reliability and consistency. For further information, please visit www.glacierpointenterprises.com.
About Mill Point Capital LLC
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.