SOUTHERN CALIFORNIA RESTAURANT DESIGN GROUP ACQUIRES FOODSERVICE DIVISION OF IKONIK SUPPLY CO.
IKONIK has more than 50 years of experience purchasing, staging, delivering and installing custom and contract foodservice equipment.
ENCINITAS, Calif., Aug. 9, 2023 — Southern California Restaurant Design Group (SCRDG), a division of IFE Group, today announced its acquisition of IKONIK Supply Co.’s foodservice division, cementing its position as one of the hospitality industry’s most trusted commercial kitchen design and equipment experts. As part of this acquisition, IKONIK will rebrand its furnishing and millwork division under a new name, Hatch Hospitality Supply. In addition, Hatch Design Group will continue to offer full-service kitchen and interior design services as it has been since 1969.
“This acquisition represents a tremendous opportunity for SCRDG and IFE Group as a whole,” said Michael Benson, president of IFE Group. “With IKONIK added to our portfolio, we increase the already unparalleled value we provide to SCRDG clients and gain the opportunity to work with new client-partners loyal to IKONIK. We are excited to welcome the talented team at IKONIK into our family and incorporate its 50+ years of history into our brand story.”
This strategic move combines the expertise and resources of two industry giants, providing unmatched benefits to large hospitality groups, independent restaurant owners, golf clubhouses and hoteliers. The acquisition closed in July 2023, and IKONIK will continue to operate under its brand name as a division of SCRDG without any disruption in services to its clients or changes in organizational structure.
The combined resources of SCRDG and IKONIK provide competitive solutions to the hospitality and restaurant industries. Commercial foodservice operators can partner with SCRDG for strategic design services at concept inception and to source and install equipment, fixtures and supplies. When operators evolve to address consumer taste and experience expectations, SCRDG is primed to support the long-term success of any foodservice operation, regardless of scale.
“For more than five decades, IKONIK has boosted the bottom line and competitiveness of our restaurant partners with custom and contract foodservice equipment,” said Stephanie Cregg, a principal of Hatch Hospitality Supply. “Adding IKONIK’s foodservice offerings to SCRDG’s lineup will further elevate its ability to transform spaces into extraordinary dining destinations and commercial kitchens into centers of operational excellence. And in continued service to the hospitality industry, we look forward to partnering with SCRDG to drive the success of any foodservice operation.”
The negotiation and facilitation of this transformative acquisition were skillfully handled by Ryan Clark of Veld Mergers & Acquisitions, whose expertise and dedication were instrumental in bringing this deal to reality.
“Congratulations to SCRDG and IKONIK on its bold new future together,” Clark said. “The acquisition of marks a significant milestone in its journey to redefine the standards of hospitality solutions. By joining forces with IKONIK, SCRDC is poised to offer an extensive range of top-tier products and services, further solidifying its position as a one-stop-shop for all restaurant design and equipment needs.”
About SoCal Restaurant Design Group
Southern California Restaurant Design Group, a division of the IFE Group, was established in 2014 to offer full turnkey services to the restaurant industry and serve all aspects of a commercial kitchen design project, including design services, foodservice equipment and complete installation services. SCRDG works with owners and chefs to translate their vision into an attractive, efficient and code adherent space. With offices in San Diego, Orange County, Los Angeles, Houston and Tampa, SCRDG offers cutting-edge solutions to the restaurant industry domestically and worldwide. Learn more at socalrestaurantdesign.com.
About IFE Group
IFE Group is a distinguished leader in providing comprehensive solutions to the hospitality industry. With a diverse portfolio of services from design to procurement, IFE Group is a reliable partner in turning hospitality visions into reality. Learn more at ifemarketing.com.
About IKONIK Supply Co.
IKONIK Supply Co. has been a trusted hospitality supply firm since 1969, specializing in diverse project types, including restaurants, country clubs, hotels, corporate offices and nightclubs. IKONIK offers a wide range of back-of-house foodservice equipment, front-of-house furnishings and a complete array of customized solutions for clients seeking a fresh approach to their projects. Flexible and comprehensive, IKONIK eliminates barriers restricting synergies among interior designers, architects, engineers and contractors. IKONIK is committed to innovative, creative solutions with competitive pricing. Learn more at ikoniksupply.com.
About Veld Mergers & Acquisitions
Veld Mergers & Acquisitions partners with lower middle-market business owners to realize their unique definition of success. Veld provides its client-partners a comprehensive service offering tailored to support their needs at all stages of their companies’ lifecycles by working with their professional networks and its own to curate the optimum team of exit planning professionals. This approach ensures Veld shares its clients’ success just as it shoulders the burden of any failures. Learn more at veldma.com.
