Dairy Farmers of America, Old World Sausage in M&A news
LET'S MAKE A DEAL: COLD FOOD ACQUISITIONS
The Hartford [Connecticut] Courant reported that Dairy Farmers of America, Kansas City, purchased Guida-Seibert Dairy Co. Inc., a family owned dairy in New Britain, Conn., for an undisclosed amount. Officials told the newspaper that all 257 Guida employees, including President Michael Young, remain with the company. Guida has reported annual sales of approximately $140 million.
Ft. Lauderdale, Fla., investor IGSM Group Inc. said it purchased Old World Sausage Factory, a meat processor in North Tonawanda, N.Y. Terms were not disclosed.
Said Old World Sausage Factory President Steven Chase, "I have been an investor in IGSM for over a year and have come to know the management and their capabilities. I am confident in their ability to help bring the Old World Sausage Factory name and products to a national audience. I have been in the food and beverage industry for 25 years, but actually I was born into it. My grandfather, Leonard Pines, the former president of Hebrew National, was my idol. He and his father took a fledgling business and turned it into a national brand. I grew up learning the food business from one of the industry legends."
and efficiently accessing the U.S. capital markets.