Rich Products acquires f’real foods
BUFFALO, N.Y. — Rich Products Corp. on Dec. 12 announced the acquisition of f’real foods as part of a series of transactions completed by the Buffalo-based company.
f’real sells milkshakes, smoothies and frozen coffee beverages, together with specialized blending equipment, to over 9,000 convenience stores and food service locations in the United States and Canada. f’real is based in Orinda, Calif.
“The acquisition of f’real provides us with the opportunity to enter into a completely new product category, and also establish additional inroads into the high growth convenience-store segment within Rich’s Foodservice Division,” said Rich Ferranti, executive vice-president and chief operating officer of Rich. “We will be working closely with the f’real leadership team to help them leverage our scale, best practices and certain capabilities. We also will look to create opportunities for f’real to take advantage of our sales channels and customer contacts on a global basis.”
In addition to the f’real acquisition, Rich announced it has acquired Goglanian Bakeries, Santa Ana, Calif., and has entered into a joint venture with The Stolbun Group to create Twin Star Bakery, based in Houston.
“The acquisitions of Goglanian Bakeries and f’real foods, and establishment of our Twin Star joint venture, are consistent with our ongoing commitment to shape and reshape our diverse portfolio to keep Rich’s focused on a path of long term growth,” said Bill Gisel, president and chief executive officer of Rich.
Rich Products is a major supplier provider to the food service, in-store bakery and retail marketplaces. Rich has annual sales of more than $3 billion and produces more than 2,000 products sold across 100 countries.