WESTERVILLE, OHIO — T. Marzetti Co., a wholly-owned subsidiary of Lancaster Colony Corp., has acquired the assets of Omni Baking Co. L.L.C. for a purchase price of $25 million, subject to post-closing adjustments.
Based in New Jersey, Omni Baking is a supplier of products to Lancaster Colony's frozen garlic bread operations. The transaction is expected to provide Lancaster Colony with improved control over the supply and production of its frozen garlic bread products as well as future capacity expansion opportunities.
"We are pleased to complete this strategically important transaction that leaves us better positioned to manage and control the future supply and growth of our frozen garlic bread operations," said David A. Ciesinski, chief executive officer of Lancaster Colony. "We evaluated a number of different scenarios for the continued expansion of New York Bakery and determined this asset purchase to be the most practical and cost-effective solution for our long-term business needs. I would also like to extend a warm welcome to the Omni Baking employees as they join our family of Lancaster Colony companies."