Rich Products acquires Celebration Foods
Jan. 20, 2011
BUFFALO, N.Y. — Rich Products Corp. has acquired Celebration Foods, a manufacturer and distributor of frozen desserts and ice cream cakes.
“The definition of a good acquisition for Rich’s is one that brings long-term growth and value through the addition of interesting products, solid operations and talented people,” said Bill Gisel, president and chief executive officer of Rich Products. “Celebration Foods is just such a company.”
The acquisition includes manufacturing, corporate operations, research and development, and the direct-store distribution system. Rich’s will continue to sell Carvel-branded ice-cream cakes in certain channels under a license agreement with Carvel Corp., but the Carvel brand and franchise business will continue to be owned by Focus Brands.
“Our acquisition of Celebration Foods provides Rich’s with the opportunity to further shape our portfolio and enhance the overall frozen dessert offering we provide to our customers,” said Richard Ferranti, president of the North America business group.