German deep-frozen finger food and snack product manufacturer Frostkrone Group has acquired US-based potato speciality products manufacturer Rite Stuff Foods.
Financial details of the acquisition have not been disclosed by both companies.
Frostkrone Group managing partner Frédéric Dervieux said: “We have maintained good business relationships with the US for several years already. Having a company location directly on the spot was the logical consequence of developments and discussions with trade partners.”
The acquisition helps the German snack food company to expand its product offering in the American market, as well as further develop its transatlantic trade relations.
Established in 1989 and based in Jerome, Idaho, Rite Stuff Foods currently employs over 230 people and processes products such as baked and filled potatoes, as well as potato wedges in several flavours.
The baked and filled potatoes are available in retail, food service and restaurants markets in triple cheese, sour cream and chives, broccoli and cheese, sour cream and chives flavours.
Emeram Capital Partners senior partner and major investor of the Frostkrone Group Dr Christian Näther said that the acquisition is future-oriented.
Näther said: “With the merger with Rite Stuff Foods, we are opening a new chapter in Frostkrone’s corporate development. Having strengthened Frostkrone’s European position in the past two years, the expansion to the USA is now the next step to further implement the company’s growth strategy.
“We are convinced that Rite Stuff Foods, with its successful history and its roots in the USA, will be a strong platform not only to supply our existing customers in the USA with Frostkrone’s diverse product innovations but also to tap into new local customer potential.”
In November, Frostkrone Group acquired French companies Piz’wich and Varenne Gastronomie.
