Specialty Food Magazine

Summer 2018

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://specialtyfoodmagazine.epubxp.com/i/986636

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Page 156 of 191

specialty food maker mergers & acquisitions A roundup of consolidations having an impact on the specialty food world. PEACE COFFEE ACQUIRED BY CEO Fair trade coffee company Peace Coffee has been acquired by its longtime CEO Lee Wallace and business partner Kent Pilakowski, who ran his own company working with small specialty food producers who needed sales and marketing strategy services. This year, Peace Coffee expects revenue to top $8 million, with more than 80 percent generated from wholesale sales to retailers. The company is growing sales more than 10 percent annually, due in part to the recent addition of a retail shop near its headquarters in south Minneapolis, Minn., and a first-floor and skyway cafe in the Capella Tower in downtown Minneapolis. FLAGSHIP FOOD BUYS SELECT NEW MEXICO BRAND Flagship Food Group has acquired certain assets from Es Mi Tiempo, including the Select New Mexico brand of premium green chile products. Select New Mexico, which is based in Denver, Colo., serves retail and foodservice accounts. In addition to giving Flagship a portfolio that complements its 505 Southwestern brand, which makes sauces, salsas, and snacks, the deal gives the company a network of dedicated drivers and sales professionals. Flagship says it doesn't plan to change Select New Mexico's management, products, or any supplier or vendor relationships. The J.M. Smucker Co. to Acquire Ainsworth Pet Nutrition The J.M. Smucker Co. has agreed to acquire Ainsworth Pet Nutrition LLC in a transaction valued at approximately $1.7 billion. The com- pany will also explore strategic options for its U.S. baking business, including a potential sale. Ainsworth is a producer, distributor, and marketer of premium pet food and pet snacks, predominately in the U.S. Approximately two- thirds of its sales are generated by its Rachael Ray Nutrish brand. The acquisition and addition of the Nutrish brand is expected to increase scale and further accelerate the growth of J.M. Smucker Co.'s pet food business. 138 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com

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