San Francisco, CA – October 24, 2007 – Seacoast Capital (“Seacoast”), $200MM private equity firm with offices in Boston, MA and San Francisco, CA today announced that it has successfully exited Pacific Groservice Inc. (“PGI”), a San Jose, Ca. wholesale supplier of food and non-food products to small convenience stores, small grocery stores, fast food restaurants and vending service retailers.

PGI completed the repurchase of Seacoast’s outstanding debt and common stock warrants in connection with a successful refinancing based on PGI’s solid financial performance.

“Seacoast appreciated the opportunity to provide junior capital to PGI and Cadigan Partners. The investment contributed to the continued growth of PGI and resulted in substantial returns to Seacoast’s Fund II”, Seacoast Managing Director Jeff Holland commented.

Seacoast invested approximately $4.5 million of subordinated debt with warrants in PGI in February 2004 through its second SBIC fund, Seacoast Capital Partners II, L.P.