Clearly Canadian Brands to acquire jam company
August 06, 2008
by FoodBusinessNews.net Staff
TORONTO — Clearly Canadian Brands has signed a letter of intent to acquire Crofters Food Ltd., an organic jam company.
"We look forward to all the tremendous opportunities the acquisition of such an incredibly strong brand name as Crofters Organics presents Clearly Canadian Brands," said Bobby Genovese, chief executive officer. "As we begin the expansion of our organic brands into the U.S. marketplace, all of our divisions will benefit from the selling relationships Crofters Organics has forged over the years."
The transaction will more than double the size of Clearly Canadian Brands. After the closing of the acquisition, Clearly Canadian will be on track to surpass $30 million in revenues for 2009. In addition, the previously announced Baldwin Street Kosher acquisition is expected to close soon.