Toronto, Ontario – Associated Brands ("Associated Brands" or the "Company"), a leading North American manufacturer and supplier of private-label dry packaged foods, today announced that it has completed the acquisition of Soluble Products ("Soluble"), a New Jersey-based manufacturer of powder supplements for weight management and sports nutrition.
Associated Brands and Soluble Products have complementary businesses, geographies, raw materials and end-markets. This acquisition expands the Company's co-manufacturing business with the addition of Soluble's loyal customer base and focused portfolio of private-label powder supplements for diets, bodybuilding, sports nutrition and children's health.
"This acquisition strengthens our position as a partner of choice for co-manufacturing services and helps us build on our leading position in the North American private-label dry packaged goods marketplace," said CEO Scott Greenwood. "We are intent on continuing to create exceptional value for our customers as we grow our business, both organically and by acquisition."
Associated Brands' principal focus is on private-label dry packaged food products such as flavored drink mixes, soups, bouillon, side dishes and sweeteners. The Company's customer driven R&D process, adoption of leading technologies and development of products that deliver great value has enabled it to become one of the largest suppliers of private-label dry packaged food products in North America.
Associated Brands has two manufacturing and R&D facilities serving customers in Canada, the U.S., the Caribbean and Mexico. Following closing of the deal, Associated Brands will begin planning and executing the transition of all production from Soluble's New Jersey facilities to the state-of-the-art Associated Brands manufacturing facility in Medina, New York.
For more information about Associated Brands see www.associatedbrands.com.
About Associated Brands
Associated Brands is a leading North American manufacturer and supplier of private-label packaged food products that sells to almost all of the 50 largest North American food retailers. Associated Brands' principal focus is on manufacturing dry packaged food products such as flavored drink mixes, iced tea, hot chocolate drinks, dessert mixes, soups, bouillon, side dishes and sweeteners, in addition to nutritional and weight management products. Associated Brands has grown to become one of the largest suppliers of a diverse range of private-label dry packaged food products in North America. Associated Brands is majority owned by TorQuest Partners, a leading Canadian private equity firm.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$700 million of equity capital under management TorQuest seeks to pursue investments in middle market companies with the goal of working in close partnership with management to build value. To learn more about TorQuest Partners, visit www.torquest.com.
About Soluble Products
Soluble Products is a New Jersey-based manufacturer of nutritional powders, including diet, bodybuilding, sports nutrition and children's nutritional supplements.