Rich Products buys Celebration Foods
“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. Celebration Foods is just such a company,” said Bill Gisel, Rich’s president and CEO.
Gisel said the deal includes all aspects of the Celebration business -- encompassing manufacturing, corporate operations, research and development, and the business’s direct-store-distribution (DSD) system. He said Rich’s will continue to sell Carvel-branded ice-cream cakes in certain distribution channels under a license agreement with Carvel Corporation, a subsidiary of Focus Brands, Inc. 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, North America Business Group.
Added Ray Burke, Rich's president of Foodservice and In-Store Bakery divisions, “Celebration’s current DSD customers should not experience any disruptions or changes to their current business interactions and agreements. It will be business as usual.”
Officials said Tim Shanley, Celebration Food’s president, has joined Rich’s as managing director, Celebration Foods. In his new role, Shanley will manage sales and marketing functions for Celebration’s DSD business, which will be operated as a separate customer-facing channel within Rich’s.
“We are pleased that Tim will be joining our team and look forward to leveraging his talents and expertise in the frozen dessert category,” said Burke.