Business Description: Founded in 1993 and headquartered in Dallas, TX, Culinaire International (“Culinaire”) is a premier foodservice management company renowned for providing first-class guest experiences to attendees of fundraisers, galas, weddings and other on-site dining facilities at prestigious cultural venues throughout the country. Culinaire operates out of 30 distinct museums, performing arts centers, cultural landmarks and hotels across 13 states and employs more than 1,200 team members.
Background: Richard Gussoni started Culinaire within the Crow family portfolio of businesses and eventually purchased the Company from the Crow family in 1993. Having transitioned day-to-day operating responsibilities over to a professional management team, Richard felt that both he and the Company were at an inflection point and decided to explore options for the Company. He was seeking an arrangement that would maximize value, provide meaningful liquidity and, most importantly, find the right next owner that would act as a steward for the Company’s brand and reputation across the industry. While COVID-19 delayed his planned exit from the Company, Richard resumed his search for the ideal partner in 2024 after the business rebounded to its prior heights.
Solution: In late 2023, CMG conducted a thorough strategic options analysis including valuation guidance, potential buyer / investor candidates, and timing considerations to assist Mr. Gussoni in exploring near-term and long-term ownership options for the Company. In early 2024, CMG was engaged to conduct a targeted sale process which resulted in numerous strategic and financial offers. Richard ultimately selected the buyer he believed was the best fit to ensure the Company’s long-term success.
