CINCINNATI -- AdvancePierre Foods Inc., a leading supplier of sandwiches to the foodservice, retail and convenience-store channels, will acquire the manufacturing assets of Better Bakery LLC, a Valencia, Calif.-based manufacturer of premium stuffed sandwiches.
Production will be relocated to AdvancePierre's facility in Caseyville, Ill., a sandwich manufacturing operation the company acquired last month from Landshire Inc.
"We are eager to incorporate another high-growth, strategic acquisition into the AdvancePierre portfolio," said John Simons, president and CEO of AdvancePierre. "Stuffed handheld sandwiches are the largest category in the frozen sandwich market, and Better Bakery is driving the lion's share of the growth in this category. Its choice-ingredient, premium-price product portfolio is comprised of sandwiches for all eating occasions, which is pivotal for us as we aggressively grow our leadership position as the nation's No. 1 provider of sandwiches for lunch, dinner and snacking and look to close the gap between AdvancePierre and the leading breakfast sandwich brand."
Founded in 2010, Better Bakery produces stuffed sandwiches and other licensed products including Pretzel Melts, Skinny Melts and Breakfast Melts. It will expand AdvancePierre's presence in on-trend, clean-label products, enabling new distribution and market penetration with premium and natural food customers across its foodservice, retail and convenience-store channels.
Better Bakery CEO and co-founder Bryan Freeman will continue at AdvancePierre in his new role as vice president of premium and natural handhelds.
"Bryan will be a great asset to our team, and, together, we're excited for the growth that lies ahead as we integrate Better Bakery into the AdvancePierre platform," Simons said. "The Caseyville manufacturing footprint that we acquired from Landshire last month provides a highly synergistic solution for Better Bakery's products and provides significant capacity to support future growth. This combination takes advantage of our leveraged buy in meat and cheese proteins, internal slicing capability, central distribution footprint and expansive logistics infrastructure to existing AdvancePierre customers."
Dean Hollis, chairman of AdvancePierre and advisor to AdvancePierre's majority shareholder in funds managed by Oaktree Capital Management LP, added, "AdvancePierre's recent acquisitions are yet another step in our multifaceted growth agenda. An aggressive acquisition plan, coupled with a robust innovation agenda that builds on three consecutive years of double-digit growth in our sandwich platform, demonstrates our commitment to being the go-to growth company for our customers and strategic partners."
AdvancePierre expects to close the Better Bakery acquisition in second-quarter 2015. The company's recent acquisition of Landshire closed on Jan. 30, 2015.
Cincinnati-based AdvancePierre offers a broad line of packaged sandwiches; fully cooked beef, chicken, and pork products; uncooked meat items such as Philly-style steak, breaded beef and stuffed chicken entrees; and bakery products.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.