MONTREAL, June 20, 2019 /CNW Telbec/ - Fontaine Santé Foods is continuing its expansion into the United States with its acquisition of the Garden Fresh Gourmet subsidiary of the American giant Campbell Soup.
Created in 1998, Garden Fresh Gourmet was purchased in 2015 at a cost of $231 million USD by the Campbell Soup Company. The recently completed transaction includes Garden Fresh Gourmet's two plants in Ferndale and Grand Rapids, Michigan, which employ more than 600 people.
"This is a strategic acquisition that is aligned with our business plan. It adds similar and complementary expertise to our group while also supporting our expansion into the American market for our two companies," explained lawyer and group president Mélissa Latifi.
Garden Fresh Gourmet products are distributed throughout the United States and by major retailers in Canada. Garden Fresh Gourmet refrigerated salsa is the #1 brand in its category in the American market. Garden Fresh Gourmet products are renowned for their freshness in the prepared food sector.
"We have two goals with this acquisition: to develop and diversify the range of our product offerings and, at the same time, to maintain our small-scale production quality. Our products are satisfying the current demands of consumers," added Ms. Latifi.
The expertise and synergies of the two companies will be paired, and this will help to increase their respective market share in the United States and Canada.
Fontaine Santé Foods makes hummus, refrigerated dips, salads, hors-d'œuvres, pestos and vegetable pâtés.
Garden Fresh Gourmet produces the top-selling refrigerated salsa in the United States, as well as hummus and a variety of refrigerated dips and tortilla chips.
SOURCE Fontaine Santé Foods
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