Washington, D.C.—Redwood Acquisitions has acquired CSP Information Group, which produces CSP, FARE, FoodService
Director, Restaurant Business and other properties aimed at the convenience retailing, restaurant and on-the-go food industries. Financial terms of the deal were not disclosed.
Redwood Acquisitions is jointly owned by Michael Wood, co-founder of Hanley Wood, and his son, Mike Wood Jr. Michael Wood is now the chairman of CSP; his son is CEO.
“The goal is to continue the dramatic growth CSP has achieved over the last 6 years, during which the company tripled revenue,” said Mike Wood Jr. in a statement. “We expect to invest in and grow CSP's existing businesses—particularly in the digital, mobile and information realms—and to become an active acquirer of c-store, restaurant and foodservice industry media, trade shows and data businesses.”
The deal for CSP reunites Michael Wood Sr. with his former partner, Mike Hanley, an investor in the new business, who will also join the company's board.
Berkery, Noyes & Co. represented Redwood Acquisitions as investment banker in the transaction.