DOWNERS GROVE, ILL.--(BUSINESS WIRE)--
Hearthside Food Solutions (“Hearthside”) announces the signing of a definitive agreement to purchase Standard Functional Foods Group (“SFFG”), a unit of privately held Standard Candy Company, subject to regulatory approval and customary closing conditions. SFFG is a contract manufacturer of nutritional and functional bars located in Nashville, Tennessee.
The planned acquisition of SFFG will further enhance Hearthside’s entry into the functional bar category, enabling the company to meet the growing demand for a widening array of bars in the US. The addition of SFFG will bring the Hearthside network to a total of 24 production facilities. Terms were not disclosed.
“In addition to new network capacity, geographic reach and production capabilities, SFFG brings leadership in R&D with their ability to design, formulate and commercialize the increasingly complex nutrition and energy bars customers are demanding,” said Rich Scalise, Hearthside Chairman and CEO.
Standard Candy began as a regional confectioner in 1901, and expanded into functional bars in 1999 through SFFG, which currently serves as a contract manufacturer to many of the largest food companies and brands.
“SFFG is a high-quality organization with an excellent quality and safety record. This will enable the Nashville operations to seamlessly and swiftly integrate into our world-class culture,” said Dwayne Hughes, Hearthside SVP of Supply Chain.
Standard Candy will retain their famous Goo-Goo Clusters, which will continue to be made in Nashville and sold at the Goo-Goo Shop retail store in downtown Nashville.
About Hearthside Food Solutions
Hearthside Food Solutions, headquartered in Downers Grove, Illinois, is the largest independent bakery in the U.S. and a full-service contract manufacturer of high-quality snack food products and packaging for some of the world’s leading premier brands. Hearthside currently operates 23 food-manufacturing facilities, including three in Europe. In 2014, Hearthside was acquired by the Merchant Banking Division of Goldman Sachs and Vestar Capital Partners. For more information on Hearthside Food Solutions, visit www.hearthsidefoods.com.
Copyright Business Wire 2017