DOWNERS GROVE, ILL. — Contract manufacturer Hearthside Foods Solutions, LLC. on Dec. 29 completed the acquisition of Weston Foods Ambient Division assets for C$370 million ($296 million). The transaction was first announced in November.
The assets being acquired include six North American bakeries producing cookies, crackers, cones and wafers. Approximately 1,100 full-time employees work at the plants.
The completed acquisition expands Hearthside’s network to 43 facilities in the United States, Europe and now Canada.
“These new facilities possess a culture of quality and performance that aligns well with our customer-focused, people-first approach to business,” said Chuck Metzger, chief executive officer of Hearthside Foods. “This will enable a successful and timely integration with our core business.”
Baking is one of Hearthside’s four primary contract manufacturing categories, including bars, fresh and frozen entrees, and food packaging. The new locations bring additional capacity and an expanded ability to meet the needs of existing and new customers, Mr. Metzger said.
The transaction is part of Weston Foods’ move to sell its entire bakery business. FGF Brands, Inc. in October announced itreached an agreementto acquire the company’s fresh and frozen bakery businesses for $1.2 billion. The businesses serve retail and foodservice customers with packaged fresh bread, frozen bread, rolls, cakes, donuts and pies.
