Fort Dearborn Partners (FDP) is pleased to announce that we served as sole financial advisor to HF Foods Group Inc. (NASDAQ: HFFG) and assisted in obtaining the financing to support the transaction in which HFFG acquired substantially all the operating assets of 3 related entities collectively known as Sealand Food, Inc.  This is the second transaction during the last 6 months in which FDP provided financial advisory and capital raising support to HFFG.

FDP provided comprehensive buy-side due diligence, including a Quality of Earnings (QofE) report.  The QofE preparation was challenging for several reasons: 1) there had never been an audit or review of the financial reporting of the target's three entities, 2) the financial reporting was not US GAAP compliant, and 3) no wall-to-wall physical inventory count had ever been performed.  FDP utilized its extensive accounting and food distribution expertise to complete the Quality of Earnings within the tight timeframe established by the parties, facilitating the financial processes with its lenders necessary to consummate the transactions. 

HF Foods Group, Inc. is the industry leader in Asian/Chinese restaurant supply & food delivery servicing over 10,000 restaurants across the United States.