Parmalat sells North American Bakery Group
Includes the Archway brands, Mother's brands and the U.S. and Canadian private label cookie businesses.
03/02/05 Parmalat Dairy & Bakery Inc. has announced that it has sold the company's North American Bakery Group which includes the Archway brands, Mother's brands and the U.S. and Canadian private label cookie businesses to the private equity firm Catterton Partners, and their operating partner Insight Holdings. Terms were not disclosed.
Under this agreement, the U.S. bakery name will change to the "Archway & Mother's Cookie Company, Inc." and the Canadian bakery will be known as "A&M Cookie Company Canada" with Catterton Partners and Insight Holdings leveraging their strong industry expertise to provide the bakery management team with marketing and operational strategies targeted at building sales and long-term profit.
With over 120 years of brand heritage in the Canadian dairy industry, Parmalat Canada is committed to the health and wellness of Canadians and markets a variety of high-quality food products that help them keep balance in their lives.
Parmalat Canada produces milk and dairy products, fruit juices, cultured products, cheese products and table spreads with such respected brands as Beatrice(R), Lactantia(R), Balderson(R), Black Diamond(R) and Astro(R).
With more than $1.2 billion under management, Catterton Partners is a leading private equity firm in the U.S. focused exclusively on the consumer industry. Catterton's combination of investment capital, strategic and operating skills, and network of industry contacts has enabled it to become the most sought after private equity firm in the consumer sector.
http://www.newswire.ca/en/releases/archive/January2005/31/c8961.html
