Allen’s Canning To Sell 4 Brands In ‘Strategic Repositioning’
by March 9, 2012 8:42 am 188 views
Siloam Springs-based Allens, Inc. is selling four of its six frozen vegetable operations to The Bonduelle Group in an effort to “strategically reposition its brand.”
Terms of the deal were not disclosed. The Bonduelle Group is a French-based vegetable processing company with 42 sites worldwide.
The transaction will allow the Allens organization to focus intently in the future on its core competencies: canned and Southern-style frozen vegetables, according to a company release.
The deal, which is anticipated to close in late March 2012, is structured as an asset purchase and concerns operations and a total of approximately 400 permanent employees of plants in the Bergen, New York; Oakfield, New York; Brockport, New York; and Fairwater, Wisconsin areas.
The purchase includes the Chill Ripe brand and the frozen Garden Classics brand, as well as a license to use certain brand names owned by Allens in the frozen business for a limited transitional period.
Allens says it will continue to own and operate its two Montezuma, Georgia facilities following the transaction, which specialize in frozen breaded vegetable products and Southern-style frozen vegetables.
“We’re excited to put a renewed focus on the core of our business and the market segments we are most passionate about,” shares Rick Allen, President and CEO of Allens, Inc. “With this renewed concentration, we anticipate greater growth, more innovation and even better customer service and product quality. We’re excited about what this will mean to the marketplace and to our customers and partners, overall.”
More information is provided in this report from Kim Souza with The City Wire.