Golden Malted and Heartland Waffles (“Golden Malted” or the "Company"), America's largest distributor of waffle mix and waffle irons to the foodservice and hospitality industry under its Golden Malted® and Heartland Waffles™ brands, today named Michael DiBeneditto as CEO. DiBeneditto brings a customer-first mentality and extensive route-based distribution experience to the role, having most recently served as Chief Merchandising and Commercial Officer at Ferraro Foods.
Headquartered in Glen Mills, Pennsylvania, Golden Malted provides turnkey waffle programs, including maintenance, to over 40,000 customer locations throughout North America. The Company will benefit from DiBeneditto’s significant expertise driving strategic growth through a focus on developing collaborative customer partnerships, scaling route operations, optimizing supply chains, and executing marketing initiatives.
At Ferraro Foods, DiBeneditto oversaw 300 route operators distributing specialty Italian foods to independent restaurants and national chains across the eastern U.S. Prior to that, he served as Division President at Performance Food Group. DiBeneditto brings a broad skillset to Golden Malted with Sales, Purchasing, Operations, Marketing, HR, and Finance experience, along with a relentless focus on customer service and fulfillment as keys to driving business growth.
“Joining the Golden Malted business as CEO is a unicorn opportunity,” said DiBeneditto. “The Company has been a partner to leading restaurants and hotels since 1937 and the value proposition – and taste – of our waffle program and waffles is better than ever. With Arbor ownership, we’ll be able to invest to serve and grow with our operators, helping them provide an even better waffle program and guest experience. Our team will help more people enjoy a make-your-own fresh-baked waffle wherever they are – from their favorite hotel to the college cafeteria.”
Golden Malted is owned by Arbor Investments, a specialized private equity firm focused exclusively on acquiring companies in food, beverage, and related industries. Arbor announced the acquisition in June 2023.
Said George Russell, Vice President at Arbor, “We knew we needed a CEO with a true passion for serving hospitality and foodservice customers and an understanding of how to rapidly scale a DSD business. It’s a differentiated model.” Tim Fallon, Senior Operating Partner at Arbor Investments and interim CEO of Golden Malted, added, “Michael is a strong leader and team builder with deep commercial and distribution experience. He knows providing seamless service and delivery to customers are paramount. At the same time, he’s not afraid to roll up his sleeves and get into the details on the routes. This combination of skills is key to driving the continued growth we’re looking for.”
A Pennsylvania native, DiBeneditto holds a BA in Food Marketing and an MBA in Accounting from St. Joseph’s University in Philadelphia.