BUFFALO, N.Y. — Rich Products Corp. on Dec. 12 announced two transactions in the baking industry — the acquisition of Goglanian Bakeries and entry into a joint venture named Twin Star Bakery.
Goglanian offers a line of pizza crust, thin crust, lavash, focaccia, pita, bread sticks, flat bread and frozen dough. Based in Santa Ana, Calif., the company has 500 employees. The company was established in 1978.
Goglanian has facilities in Santa Ana; Fountain City, S.C.; Rochester, N.Y.; and a new bakery in the Chicago area, expected to open early in 2013.
“This acquisition strengthens our competitive position within the pizza category, one of our highest growth priorities for our U.S.-Canada Region,” said Richard Ferranti, executive vice-president and chief operating officer. “We are confident that the Goglanian business has the capacity to grow exponentially as it transitions into our organization to leverage our scale, management depth and customer access in the U.S., Canada and other regions across the world.”
Twin Star is a joint venture between Rich and partner The Stolbun Group. The group is led by Sam Stolbun, who previously owned Camelot Desserts.
Twin Star recently opened a desserts manufacturing operation near Houston, producing premium fully-finished cakes, and baked and iced cookies.
According to the agreement, The Stolbun Group will manage Twin Star’s research and development and production, while Rich’s will oversee product marketing and sales, primarily through its In-Store Bakery Division.
“This joint venture is a wonderful example of collaboration between Rich’s expansive customer and distribution access and The Stolbun Group’s unique manufacturing and product development expertise,” Mr. Ferranti said. “The entrepreneurial nature of this business will enable greater manufacturing and product development flexibility.”
In addition to the Goglanian and Twin Star transactions, Rich also said it has acquired f’real foods, an Orinda, Calif., maker of milkshakes, smoothies and frozen coffee beverages, together with specialized blending equipment, supplied to convenience stores and food service locations. Rich will manage f’real as a separate subsidiary business.