USA – Rich Products, a New-York based food company, has announced the expansion of its product portfolio with three acquisitions in the seafood and baked goods industry.
Rich Products has acquired Rizzuto Foods, a Pacific northwest-based maker of pizza doughs; Morey’s Seafood International, a seafood company based in Plymouth, Minnesota.
Founded in 1937, Morey’s Seafood International runs a state-of-the-art processing center in Motley and a distribution facility in Plymouth, offering a full line of fish and seafood products.
Morey’s Seafood portfolio will join Rich’s value-added seafood offering which includes the SeaPak brand.
Through the acquisition of Rizzuto Foods, Rich said that it will amplify more than 40-year legacy in the pizza business by adding Rizzuto’s pizza and flatbread products, along with gluten-free and cauliflower crusts to its business.
“The strategic addition of Rizzuto Foods positions Rich’s for continued growth, greater capacity, increased innovation and long-term success in the category,” the company said in a statement.
The company has also purchased two manufacturing plants from TreeHouse Foods located in Lodi and Fridley. The facilities specialize in baked artisan breads and rolls, as well as fully finished cakes for in-store retail bakeries and foodservice.
More than 400 associates across the two plants join Rich’s as part of this acquisition. The transaction is expected to close in April.
“The sale of the Fridley and Lodi facilities allows us to sharpen our focus at TreeHouse, and importantly, creates an opportunity for these plants to thrive under Rich Products’ ownership,” said Steve Oakland, CEO and President of TreeHouse Foods.
Rich Products said that these strategic additions will position the company for continued growth, innovation and long-term success.
“As we enter our 75th year, we remain as committed as ever to driving value for our customers,” said Ray Burke, president and chief operating officer, Rich Products’ US Canada Region.
“Expanding our product portfolio, adding greater capacity and fueling innovation are key pieces of our strategic acquisition efforts. These moves strengthen our position as a total solutions provider in today’s rapidly evolving marketplace.”
Financial terms of each transaction were not disclosed.