Global Family-Owned Food Company Announces Three Acquisitions as Part of Long-Term Growth Strategy
Buffalo, New York (February 10, 2020) – Global, family-owned food company Rich Products today announced the expansion of its product portfolio with three acquisitions: Rizzuto Foods, a Pacific northwest-based leader in pizza dough innovation; Morey’s Seafood International, a major seafood industry player based in Plymouth, MN; and two manufacturing plants from TreeHouse Foods, a leading manufacturer and distributor of private label breads, rolls and cakes. These strategic additions position Rich Products 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’ 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.”
Bakery and Dessert Expansion
Furthering Rich’s reach and offerings in both the bakery and dessert categories are two manufacturing plants the company will acquire from TreeHouse Foods. Located in Lodi, CA, and Fridley, MN, these facilities specialize in baked artisan breads and rolls, as well as fully finished cakes for in-store retail bakeries and foodservice.
These two manufacturing plants allow Rich’s to provide its customers with greater in-demand product options and adds industry reputable brands like Cottage Bakery to its product portfolio. Enhancing Rich’s dessert and bakery business units, the acquisitions also align with Rich’s long-term plans for growth.
More than 400 associates across the two plants join Rich’s as part of this acquisition. The transaction is expected to close in April.
Enhanced Pizza Capabilities
Rich’s amplifies its more than 40-year legacy in the pizza business with the acquisition of Rizzuto Foods. Based in Spokane, WA, Rizzuto is best known for high-quality pizza and flatbread products, along with gluten-free and cauliflower crusts. The strategic addition of Rizzuto Foods positions Rich’s for continued growth, greater capacity, increased innovation and long-term success in the category.
Like Rich’s, Rizzuto has been family-owned for more than 60 years. What started in 1957 as Joe’s Drive In Pizza has grown into a large multi-faceted business. Since becoming Rizzuto’s in 1991, the company has produced more than 1 billion pizza crusts.
Greater Seafood Growth
Rich’s is expanding its current seafood footprint with the acquisition of Morey’s Seafood International, a leading seafood industry player based in Plymouth, MN, that also has family-owned roots. Founded in 1937 by Ed Morey, Morey’s has become a Minnesota icon and a legacy brand in the seafood category. With a state-of-the-art processing center in Motley and a distribution facility in Plymouth, MN, Morey’s offers a full line of high quality, authentic fish and seafood products.
Already a venerable leader in value-added seafood, Rich’s SeaPak brand is America’s top selling retail brand in the frozen specialty seafood category. The company’s investment in Morey’s will grow Rich’s seafood business, allowing Rich’s to expand its impact and deliver even more options for customers.
Financial terms of each transaction were not disclosed.
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods, among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family. Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.
ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading manufacturer and distributor of private label packaged foods and beverages in North America. We have over 40 production facilities across the United States, Canada and Italy, and our vision is to be the undisputed solutions leader for custom brands for our customers. Our product portfolio includes shelf stable, refrigerated, frozen and fresh products, including baked goods (refrigerated and frozen dough, cereal, cookies, crackers, pretzels and snack bars); beverages (broth, single serve hot beverages, creamers and powdered drinks); and meal solutions (dressings, hot cereal, macaroni and cheese, pasta, pickles, sauces and side dishes). We have a comprehensive offering of packaging formats and flavor profiles, and we also offer natural, organic and preservativefree ingredients across almost our entire portfolio. Our purpose is to make high quality food and beverages affordable to all. Additional information, including TreeHouse’s most recent statements on Forms 10-Q and 10-K, may be found at TreeHouse’s website, https://www.treehousefoods.com.
ABOUT RIZZUTO FOODS
Rizzuto Foods is a manufacturer of premium parbaked, freezer to oven and gluten free pizza crusts, frozen pizza doughs and breadsticks. Our product line is designed to provide solutions to the broad spectrum of operational demands and requirements that exist within the foodservice industry. The Rizzuto name has become synonymous with the pizza industry in the Northwest and beyond by providing innovative solutions, value and reliable service to our customers since 1991.
ABOUT MOREY’S SEAFOOD INTERNATIONAL
Morey’s Seafood International LLC specializes in the manufacturing, marketing and distribution of restaurant-inspired, great tasting fish and seafood products. Morey’s commitment to quality, taste, convenience and healthy products is consistent with consumer feedback when sharing what they look for in today’s marketplace. Since 1937, Morey’s has grown to be a leading seafood manufacturer and distributor. Today, Morey’s manufactures and distributes multiple products under the Morey’s label including Morey’s marinated seafood and Morey’s smoked fish products. Morey’s is an active member of the National Fisheries Institute and a member of the Global Aquaculture Association. For more information, go to www.moreys.com.