Rich Products Corporation has acquired Celebration Foods, a leading manufacturer and distributor of frozen desserts and ice cream cakes.
â€śThe definition of a good acquisition for Richâ€™s is one that brings long term growth and value through the addition of interesting products, solid operations and talented people. Celebration Foods is just such a company,â€ť said Bill Gisel, Richâ€™s President and Chief Executive Officer.
The acquisition includes all aspects of the Celebration business, encompassing manufacturing, corporate operations, research and development, and the businessâ€™s direct-store-distribution (DSD) system. Richâ€™s will continue to sell Carvel-branded ice-cream cakes in certain distribution channels under a license agreement with Carvel Corporation, a subsidiary of Focus Brands, Inc. The Carvel brand and franchise business will continue to be owned by Focus Brands.
â€śOur acquisition of Celebration Foods provides Richâ€™s with the opportunity to further shape our portfolio and enhance the overall frozen dessert offering we provide to our customers,â€ť said Richard Ferranti, President, North America Business Group.
â€śCelebrationâ€™s current DSD customers should not experience any disruptions or changes to their current business interactions and agreements,â€ť said Ray Burke, President of Richâ€™s Foodservice and In-Store Bakery Divisions. â€śIt will be business as usual.â€ť
Tim Shanley, who most recently served as Celebration Foodsâ€™ president, has joined Richâ€™s as Managing Director, Celebration Foods. In his new role, Shanley will be responsible for the sales and marketing functions of Celebrationâ€™s DSD business, which will be operated as a separate customer-facing channel within Richâ€™s.
â€śWe are pleased that Tim will be joining our team and look forward to leveraging his talents and expertise in the frozen dessert category,â€ť said Burke.