Rich Products is starting the best week in February—the week of Valentine’s Day, duh!—off right, with not one, not two, but three acquisitions that fit right into its latest expansion plan. This plan comes on the heels of a major milestone, with Rich's adding more fuel to the company’s strategic fire in the way of continued growth, innovation, and long-term success as it hits 75 years in business.
“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’ U.S. 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.”
The first acquisition Rich’s made was of Rizzuto Foods, a Pacific northwest-based leader in pizza dough innovation. This acquisition will amplify Rich’s 40 plus-year legacy in the pizza business. According to a press release, the strategic addition of Rizzuto Foods—which is best known for high-quality pizza and flatbread products, along with gluten-free and cauliflower crusts—positions Rich’s for continued growth, greater capacity, increased innovation, and long-term success in the category.
Rich’s second acquisition includes two TreeHouse Foods manufacturing plants—one in Lodi, California, and one in Fridley, Minnesota—which specialize in baked artisan breads and rolls and in-store retail bakery and foodservice cakes, furthering Rich’s reach and offerings in the bakery and dessert categories. This move will add reputable brands like Cottage Bakery to Rich’s family of brands and over 400 associates to its company family. The transaction will close in April.
Last, but certainly not least, Rich’s will add Morey’s Seafood International, a major seafood industry player based in Plymouth, Minnesota, to its brand roster. The move will help Rich’s expand its current seafood footprint and bolster its value-added seafood brand SeaPak. This investment will also see Rich’s add Morey’s state-of-the-art processing center in Motley and a distribution facility in Plymouth.
As more deli, dairy, bakery, and specialty foods giants strive to make 2020 the best year yet, Deli Market News will continue to bring you the latest movements.