Unidine Corporation Named in Inc. magazine's Top 500 Fastest Growing Companies

August 2006: Unidine Corporation, an industry leader exclusively providing food and dining management services, has been named to the 25th annual Inc. 500 ranking of the fastest-growing private companies in the country. Unidine recorded a three year growth rate of 377% and is ranked as number 377.

Richard Schenkel, Founder, President and CEO commented, “Our rapid growth is a testament to the strength of our Team Members and the need for our services. The key to our success has been our focus on one line of business: food and dining management services. We’ve also made the decision to structure ourselves to be very close to the client, the customer and our field operations.”

Richard B. Schenkel founded Unidine Corporation in 2001 to cater to an underserved demographic: senior living centers and community and regional hospitals. These institutions were being overlooked by larger mega-providers. Unidine capitalized on the potential in these niche markets, and reached $12 million in annualized revenue by the end of 2003. Since then, the company has continued its rapid growth. In 2005, Unidine expanded into the mid-Atlantic region, increased its offerings to include dining management services for businesses, grew through two strategic acquisitions, and relocated to Newton, Massachusetts. By December of 2005, the company hit the $31 million mark in annualized revenues.

The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be U.S.-based, privately held – not subsidiaries or divisions of other companies – as of December 31, 2005, and have at least $600,000 in net sales in the base year.