Seneca to buy Unilink, Lebanon Valley Cold Storage
Fruit and vegetable processor Seneca Foods Corporation, Marion, N.Y., is set to acquire Unilink, LLC and its affiliated company, Lebanon Valley Cold Storage, LP, which primarily sell frozen fruits and vegetables in the packaged private label retail and foodservice channels.
Unilink, LLC, Lebanon, Pa., is a wholly owned subsidiary of the Pennsylvania Food Group, LLC. Officials said Unilink's 2009 revenues were approximately $65 million.
"We believe Unilink is an excellent fit for Seneca as we expand our frozen private label and foodservice businesses," said Kraig Kayser, Seneca Foods' president & CEO. "The company has been growing very rapidly over the past several years and operates a state-of-the-art facility that opened in 2008."
"Unilink has developed a market presence in the frozen fruit and vegetable business due to the hard work of its employees. Our company will fit well into the Seneca Foods structure and we believe both companies will benefit from the relationship," added Gary Gregory, Unilink president.
Terms of the deal were not disclosed. Officials said they expect to complete the transaction within the next four weeks.
Seneca Foods is one of the largest national processors of canned fruits and vegetables. Its products are sold under the Libby's, Aunt Nellie's Farm Kitchen, Stokely's, READ, and Seneca labels as well as through the private label and industrial markets. In addition, under an alliance with General Mills Operations, LLC, a successor to the Pillsbury Company and a subsidiary of General Mills, Inc., Seneca produces canned and frozen vegetables, which are sold by General Mills Operations, LLC under the Green Giant label.
Seneca's common stock is traded on the Nasdaq Global Stock Market under the symbols "SENEA" and "SENEB".