Cheney Brothers Achieves Exit with Strong Returns for RWB Group

In a notable transaction, the private equity firm Clayton, Dubilier & Rice (CD&R) facilitated the sale of its stake in Cheney Brothers, a family-operated food distributor based in Riviera Beach, Florida. The firm, known for its extensive range of over 35,000 products, has been supplying restaurants, hotels, and institutions since 1925. CD&R acquired a stake in Cheney Brothers in July 2020 to aid its expansion into core markets, particularly Florida and North Carolina. As a result of this investment, the company's annual revenue increased to approximately $3.2 billion, and its distribution network expanded across four states. The sale yielded around $270,000 for the RWB funds, including RWB Cost Average, International IV, VI, and VII, and RWB Direct Return I and II, representing a significant return on their initial investment.