CHICAGO – Grecian Delight, based in Elk Grove Village, and Kronos Foods in Glendale Heights announced on April 7 that they plan to merge, the Chicago Sun-Times reported.
“This is a partnership that has been 30 years in the making. Now, two great organizations are coming together with a unified goal of putting our customers in a better position to succeed by delivering even more value-added products and services,” said Peter Parthenis Jr., Grecian Delight President and CEO, the Sun-Times reported adding that he will serve as CEO for the company post-merger.
The Parthenis family owns Grecian Delight while the Chicago-based private equity firm Entrepreneurial Equity Partners owns Kronos Foods, the Sun-Times noted.
“This merger will allow Grecian Delight and Kronos to accelerate growth into global cuisine and protein-based foods — both significant trends within the food sector,” said Mark Burgett, managing partner of Entrepreneurial Equity, the Sun-Times reported.
Founded in 1974 by Peter Parthenis Sr., Grecian Delight focuses on Greek and Mediterranean products for the food service and retail industries, the Sun-Times reported, adding that Kronos Foods was founded in 1975 by Chicago entrepreneur Chris Tomaras and “supplies chain restaurants, schools, and food service providers as well as grocery stores.”