Weinberg Capital Group has announced today that its portfolio company, Mechanical Servants LLC D/B/A Convenience Valet, has a new president and CEO -- Steve Jungmann.
Jungmann brings more than 30 years of experience to Convenience Valet and will assume immediate day-to-day control of the company.
Founded in 1946, Convenience Valet is the originator and leading value-added distributor of blister pack branded convenience and travel size health and beauty care products, over-the-counter drugs, personal care products and sundries sold in small-portion packages. A few are shown above.
Convenience Valet acquires branded products from the manufacturer and then repackages the products in convenient size (single / double dose) and trial / travel size packages for over 120,000 retail locations, which include grocery stores, convenience stores, drug stores, gas stations, mass merchants, warehouse clubs, travel centers, airports, hotels and cruise lines. The company distributes over 500 branded products and has established an expansive distribution network, through which its partners' products can efficiently reach consumers on a nationwide basis.
Jungmann has more than 30 years of experience and has served as president of sales for Richelieu Foods, and has held senior leadership roles for Kraft Foods, Solo Cup and SUPERVALU.
As President & CEO of Convenience Valet, Jungmann will assume direct operational control over the business and will report to the Board of Directors. He will be tasked with working hand-in-hand with the senior management team to develop and implement Convenience Valet's long-term growth plan, while also continuing to drive incremental improvements across the organization. He will also lead the acquisition and integration of any future add-on businesses.
Ronald E. (Chip) Weinberg, Jr., Managing Director & Principal of Weinberg Capital Group stated, "Convenience Valet has been in business for more than 70 years. We purchased the business in 2015 and have enjoyed working with the senior management team to continue their tradition of innovative product development, value-added design and planogramming and excellent customer service. The company is well-positioned for long-term success and the addition of Steve will only serve to enhance an already robust platform. Steve is a seasoned CEO, possessing a long and distinguished track record. He is exactly the right individual to take this business to a new level of success."
Jungmann added, "I am very grateful for the opportunity to join Convenience Valet. I am very impressed with the senior management team and believe strongly that as an organization we have multiple avenues for growth. I can't wait to get in there and get to work."