DOWNERS GROVE, ILL. — Hearthside Food Solutions has agreed to acquire Standard Functional Foods Group (SFFG), a unit of privately held Nashville, Tenn.-based Standard Candy Co. Financial terms of the transaction were not disclosed.
Founded in 1901 as a regional confectioner, Standard Candy Co. expanded into nutritional and functional bars in 1999 through SFFG. Today, SFFG serves as a contract manufacturer to many of the largest food companies and brands.
Hearthside said the acquisition of SFFG will enhance its entry into the functional bar category. With the addition of SFFG’s Nashville plant, Hearthside’s network will grow to 24 production facilities, including three in Europe.
|Rich Scalise, chairman and c.e.o. of Hearthside
“In addition to new network capacity, geographic reach and production capabilities, SFFG brings leadership in R.&D. with their ability to design, formulate and commercialize the increasingly complex nutrition and energy bars customers are demanding,” said Rich Scalise, chairman and chief executive officer of Hearthside.
Dwayne Hughes, senior vice-president of supply chain at Hearthside, added, “SFFG is a high-quality organization with an excellent quality and safety record. This will enable the Nashville operations to seamlessly and swiftly integrate into our world-class culture.”
Standard Candy will retain its Goo-Goo Clusters brand, which will continue to be made in Nashville and sold at the Goo-Goo Shop retail store in downtown Nashville.A little more than two years ago, Hearthside made two acquisitions designed to expand its presence in the bar category in the Americas and Europe. First, the company acquired VSI, Leerdam, The Netherlands, from NPM Capital. VSI is the largest European producer of nutrition, diet and functional bars. Hearthside also acquired a nutritional supplement bar production facility in Boise, Idaho, from a subsidiary of Post Holdings, Inc.