Specialty Food Magazine

Winter 2019

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://www.e-digitaleditions.com/i/1061591

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Page 94 of 127

specialty food maker mergers & acquisitions A roundup of consolidations having an impact on the specialty food world. KRAFT HEINZ PARTING WITH CANADIAN CHEESE BUSINESS Parmalat will be acquiring The Kraft Heinz Company's Canadian natural cheese brands such as Cracker Barrel, P'tit Quebec, and aMOOza! for about $1.23 million. Parmalat will help to advance the natural cheese business with its experience and focus on the dairy industry. As part of the deal, Kraft Heinz will sell its production facility in Ontario and transfer about 400 employees to Parmalat. This will allow for Kraft Heinz to focus on its other cheese products, like Cheez Whiz and Philadelphia, that have stronger brand equity and greater growth prospects. KAR'S NUTS PRODUCTS ACQUIRES MORLEY CANDY MAKERS Eighty-five-year-old trail-mix company Kar's Nut Products Co. will be acquiring Morley Candy Makers LLC, owner of Sanders, a regional chocolate and caramel company. With Kar's vast distribution network and Sanders' confectionery additions, the new partnership is expected to produce $185 million in total sales. Initially, Kar's will focus on candy distribution (specifically Sanders' caramel mini-bites) to 4,000 stores in Michigan. Kar's expects to keep all employees from Morley Candy Makers and hire additional positions for both brands. T. Marzetti Buys Bantam Bagels Lancaster Colony subsidiary T. Marzetti Co. has acquired all of the assets of Bantam Bagels, a producer and marketer of frozen mini stuffed bagels and mini stuffed pancakes sold to both the retail and foodservice channels. The transaction was funded inter- nally with cash on hand at a base purchase price of $34 million. Bantam Bagels reports annual net sales of approximately $20 million. Bantam Bagels was founded in New York City in 2013 by husband and wife team Nick and Elyse Oleksak. The pair will continue to lead the business post-closing, joining the team at Lancaster Colony, which manufactures and markets specialty food products for the retail and foodservice channels. 92 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com

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