Colombian company to acquire Fehr Foods
September 30, 2010
by Keith Nunes
ABILENE, TEXAS — Grupo Nacional de Chocolates S.A. (G.N.C.H.), Medellin, Colombia, has entered into an agreement to acquire Fehr Holdings L.L.C., the parent company of Fehr Foods Inc., for $84 million. Fehr Foods is a cookie manufacturer with production facilities in Texas and Oklahoma that primarily markets its products under the Lil’ Dutch Maid, Sun Valley and Tru-Blu brands. The acquisition is contingent on traditional regulatory approvals.
“We are sure that with this acquisition, we will add strengths that will grow G.N.C.H.’s cookie business by leveraging the skills of Fehr’s people, portfolio and customers, while enhancing its current business and creating synergy opportunities with G.N.C.H. brands,” said Carlos Enrique Piedrahita, chief executive officer of G.N.C.H. “Our vision is to grow with Fehr and develop the company together.”
G.N.C.H. said once the acquisition is complete that Fehr Foods will continue to produce and market the company’s lines of cookies. In addition, certain cookie products will be added to the product portfolio, some of which are currently marketed in Central and South America under G.N.C.H.’s brands. G.N.C.H. plans to target the growing Hispanic population in the United States as well as consumers in Mexico and the Caribbean.
“Fehr Foods is known for its dedication to low cost, quality bakery products,” said Steve Fehr, c.e.o. of Fehr Foods. “G.N.C.H. is dedicated to continuing this tradition of excellence while improving and growing the company.”