Innovative Food Holdings buys Artisan Specialty
May 22, 2012
NAPLES, FLA. — Innovative Food Holdings, Inc. acquired Artisan Specialty Foods, Inc. in a transaction that closed May 18.
Innovative Food Holdings markets and sells gourmet food products. Chicago-based Artisan Specialty Foods supplies niche gourmet food products.
“We intend to operate Artisan Foods as a wholly owned subsidiary, which will allow it to continue to focus on its growing business while at the same time allowing Artisan to benefit from Innovative Food Holdings’ centralized financial controls and operational expertise,” said Sam Klepfish, chief executive officer of Innovative Food Holdings. “We are particularly pleased that in addition to the long-term benefits we believe Artisan Specialty Foods brings to Innovative Food Holdings, this transaction is expected to bring immediate financial benefits to Innovative Food Holdings’ bottom line from both Artisan's additional sales and overall gross margin contributions.”
In 2011, Artisan had unaudited sales of more than $5.6 million. The company warehouses more than 1,200 items and distributes products to more than 450 customers.