US Foods to Acquire Freshway Foods
ROSEMONT, IL - US Foods has announced the acquisition of fresh fruit and vegetable processor, repacker, and distributor Freshway Foods.
This strategic move comes just days after US Foods boosted its estimated IPO pricing to more than $1.22 billion and an offer of more than 44 million shares.
Now, the distributor stated that it is happy to welcome Freshway Foods and its employees into the fold, and that it will be keeping the Freshway Foods building open.
“We are very excited about this new partnership with US Foods,” Phil Gilardi and Frank Gilardi, brothers and Owners of Freshway Foods, said in a press release. “Since we started this business, our success has been built upon our commitment to our associates and our customers, and we are looking forward to the next chapter for Freshway Foods as part of a well-established and reputable company like US Foods.”
Based in Sidney, Ohio, Freshway Foods serves customers throughout the eastern half of the U.S. With it, the company said it brings a strong reputation for value-added fresh cut produce and a robust farm-to-fork food safety approach.
With its product, Freshway includes all of the following with its raw produce:
- Cutting
- Cleaning
- Chopping
- Packaging
These capabilities, Freshway said, mean that the products can be delivered ready for use immediately, as well as be customized to meet any customer’s preferences.
While the terms of the transaction were not disclosed, the deal is expected to close on June 10, 2016.
