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/1119718
119 Ferrero Group to Acquire Kellogg Co. Businesses The Ferrero Group will acquire the cookie, fruit, and fruit-flavored snack, ice cream cone, and pie crust businesses from Kellogg Co. for $1.3 billion. The businesses generated sales of approximately $900 million in 2018, according to the companies. The acquired cookie brands include Keebler, Famous Amos, Mother's, and Murray's, as well as Little Brownie Bakers, supplier of cookies to the Girl Scouts. Arielle Feger is the content associate for Specialty Food Magazine. PEAK ROCK CAPITAL ACQUIRES TURKEY HILL DAIRY An affiliate of Peak Rock Capital has signed an agreement to purchase Turkey Hill Dairy from The Kroger Co. Turkey Hill is headquartered in Conestoga, Pa. and has a portfolio that includes ice cream, refrigerated drinks, and dairy products. The company serves a diverse customer base including blue chip grocers, distributors, wholesalers, and convenience stores. Peak Rock plans to transition Turkey Hill into a standalone entity and partner with management to drive growth. Cresco Labs Acquires Origin House Chicago-based Cresco Labs Inc. has acquired Origin House for about $823.5 million, representing the largest cannabis-related acquisition in U.S. history. The acquisition of Origin House, the registered business name for Canada- based CannaRoyalty Corp., will allow Cresco to place its brands in over 725 dispensaries across the U.S. The combined entity will be one of the largest vertically-integrated multi-state cannabis operators in the U.S. and one of the largest cannabis brand distributors, according to the companies. JENNY CRAIG NOW OWNED BY H.I.G. CAPITAL An H.I.G. Capital affiliate has acquired Craig Holdings, adding Jenny Craig to the private equity firm's portfolio. Jenny Craig services the weight loss industries in North America, Australia, and New Zealand. The company will continue to be led by the existing management team. Monty Sharma, Jenny Craig's CEO believes the firm's support will benefit customers and employees. Harry's Fresh Foods Sold to Kettle Cuisine Kettle Cuisine, an artisan producer of refrigerated and frozen natural soups, has acquired Harry's Fresh Foods, a privately held custom food manufacturing company based in Portland, Ore. Kettle Cuisine is a portfolio of Kainos Capital, which acquired the company in 2015 and has since invested more than $300 million to acquire and integrate complementary businesses, expand cooking capacity, add high-speed filling and packaging equipment, and expand from-scratch bone broth capabilities. Central Valley Meat Holding to Buy Harris Ranch Beef Holding Central Valley Meat Holding Co. will acquire Harris Ranch Beef Holding Co. and its subsidiaries, Harris Feeding Co. and Harris Ranch Beef Co. Both companies are family owned. Under the terms of the agreement, the businesses will continue to operate independently and retain their respective brands. Brian Coelho, president and CEO of Central Valley, says he is pleased to have the opportunity to continue Harris Ranch's family-owned legacy and pursue growth in California's Central Valley. SPRING 2019 article bug 119 SUMMER 2019 specialty food maker