The bakery sector is the backdrop for a recent deal as Roland Foods, a purveyor of global ingredients and a portfolio company of Vestar Capital Partners, has acquired ifiGOURMET, an importer and distributor of products for the bakery, pastry, confectionary, and ice cream industries. Terms of the deal were not disclosed.
“This strategic acquisition will strengthen AUI Fine Foods’ footprint in the key Chicago and San Francisco markets and expands our sweet product offering, which will allow us to better serve existing and new customers nationwide,” said Keith Dougherty, Chief Executive Officer of Roland Foods. “We believe tremendous opportunities exist in the gourmet food and ingredients market today, and the addition of the ifiGOURMET team will better position Roland Foods for growth.”
Currently, ifiGOURMET serves over 1,500 in-store bakery, restaurant chain, and foodservice customers across the country. It operates two distribution centers in Chicago, Illinois, and San Francisco, California.
As part of the acquisition, ifiGOURMET will be combined with AUI Fine Foods, Roland Foods’ sweet division. According to a release, Rick Brownstein, Owner and CEO of the ifiGOURMET, will remain with the company moving forward.
“Joining AUI Fine Foods and the Roland Foods’ family will provide ifiGOURMET with the resources and relationships needed to take our organization to the next level,” said Brownstein. “Roland Foods and AUI share our culture and strong commitment to customer service and deeply understand our business, and we’re excited about the future.”
Ken O’Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods, also commented on the transaction.
“We are proud to support Roland Foods’ expansion with the acquisition of ifiGOURMET, and we look forward to continuing our partnership with Keith and the entire Roland Foods and AUI Fine Foods team as they continue to identify new strategic acquisition opportunities,” he added.
Stay tuned to Deli Market News for more acquisitions and deals from the bakery world and beyond.