DOWNERS GROVE, Ill.--(BUSINESS WIRE)-- Today, Hearthside Food Solutions (“Hearthside”) announces the completion of their transaction to acquire Standard Functional Foods Group Inc. (“SFFGI”) of Nashville, TN. The acquisition, first announced on October 27th, pending regulatory approval and customary closing conditions, was concluded on schedule. Details of the transaction were not disclosed.
The acquisition of SFFGI adds significant additional capacity and capabilities to Hearthside’s rapidly growing nutrition bar and energy bar business. The Nashville facility will be the 24th production facility in the Hearthside network, and the 11th facility with bar production capabilities, including three in Europe.
SFFGI was part of Standard Candy Company prior to the acquisition and is regarded as a quality producer with extensive R&D capabilities. These capabilities will now complement Hearthside’s existing capabilities, bringing additional value to the expanding bar category.
“We are thrilled to be bringing this facility into our network and to welcome this great team of people into the Hearthside family,” said Rich Scalise, Hearthside’s Chairman and CEO. “They have built a strong and capable operation with a well-deserved reputation. It is one of the things that attracted us to them.”
About Hearthside Food Solutions
Hearthside Food Solutions, headquartered in Downers Grove, Illinois, is the largest independent bakery in the U.S. and a full-service contract manufacturer of high-quality snack food products and packaging for some of the world’s leading premier brands. Hearthside currently operates 24 food-manufacturing facilities, including three in Europe. In 2014, Hearthside was acquired by the Merchant Banking Division of Goldman Sachs and Vestar Capital Partners. For more information on Hearthside Food Solutions, visit www.hearthsidefoods.com.
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Hearthside Food Solutions
Carl Melville, 760-671-1110
Source: Hearthside Food Solutions