Passport Food Group

Grand Avenue Capital was engaged by the shareholders of Passport Food Group Inc., which encompasses Wing Hing Foods and Royal Pasta, as their financial adviser in the sale of the Company. The management buyout of the PFG was completed by financing provided by Wedbush Capital Partners and California United Bank. WEDBUSH CAPITAL PARTNERS ANNOUNCES ACQUISITION OF PASSPORT FOOD GROUP MANAGEMENT BUYOUT COMPLETED IN PARTNERSHIP WITH CEO DAVE ABRAMS LOS ANGELES (March 1, 2012) – Wedbush Capital Partners is pleased to announce the platform acquisition of Passport Food Group (“Passport”), the holding company of Wing Hing Foods and Royal Pasta, two specialty ethnic food manufacturers for the foodservice and food manufacturing industries. This acquisition is the seventh platform acquisition by Wedbush Capital Partners II, which specializes in acquiring growth-ready, lower middle-market companies. Founded in 1978 by the Yee family, Wing Hing Foods is one of the largest manufacturers and distributors of authentic Asian noodle and wrap products in the country, primarily serving the foodservice and food manufacturing industries nationwide. Founded in 1887, Royal Pasta is the 2nd oldest dry pasta manufacturer in the United States and currently, manufactures a variety of dry Italian pasta products including organic, artisan bronze die and whole-grain for the foodservice industry. Both companies are located in Southern California. “Joining forces with Wedbush Capital will enhance our team’s ability to build a leading specialty ethnic foods manufacturer to foodservice and food manufacturing customers in North America,” said Dave Abrams, Chief Executive Officer of Passport.