This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Rich's Transforms Its US-Canada Business Portfolio With The Announcement Of Two Acquisitions And New Joint Venture

BUFFALO, N.Y., Dec. 12, 2012 /PRNewswire/ -- Rich Products Corporation has announced three important additions to its portfolio, acquiring two food companies – Goglanian Bakeries Inc. and f'real® foods LLC; and entering into a joint venture – Twin Star Bakery, with business partner The Stolbun Group.

"The acquisitions of Goglanian Bakeries and f'real foods, and establishment of our Twin Star joint venture, are consistent with our ongoing commitment to shape and reshape our diverse portfolio to keep Rich's focused on a path of long term growth," said Bill Gisel, Rich's President and Chief Executive Officer. 

Acquisition of Goglanian Bakeries The acquisition of family-owned Goglanian Bakeries will significantly expand Rich's current pizza business and provide the company with an exceptional line of par-baked pizza crusts, flatbreads and pitas, to complement its existing strength in frozen pizza dough within the foodservice channel.  Goglanian also possesses a significant manufacturing network with operations in Santa Ana, Calif., Fountain Inn, S.C. and Rochester, N.Y., along with a new state-of-the-art facility located outside of Chicago, Ill., which is expected to open in the first quarter of 2013.

"This acquisition strengthens our competitive position within the pizza category, one of our highest growth priorities for our US-Canada Region. We are confident that the Goglanian business has the capacity to grow exponentially as it transitions into our organization to leverage our scale, management depth and customer access in the US, Canada and other regions across the world," said Richard Ferranti, Executive Vice President and Chief Operating Officer.

Acquisition of f'real foodsThe addition of f'real foods, based in Orinda, Calif, provides Rich's with a new product line and greater penetration into the high-growth convenience store segment.  Founded in 1995, f'real is a fast-growing company which sells authentic, high-quality milkshakes, smoothies and frozen coffee beverages, along with patented blending equipment, to more than 9,000 convenience store and foodservice locations across the United States and Canada.  Based on f'real's unique business model and current growth trajectory, the company will be managed as a separate subsidiary business.

"The acquisition of f'real provides us with the opportunity to enter into a completely new product category, and also establish additional inroads into the high growth convenience-store segment within Rich's Foodservice Division. We will be working closely with the f'real leadership team to help them leverage our scale, best practices and certain capabilities.  We also will look to create opportunities for f'real to take advantage of our sales channels and customer contacts on a global basis," said Ferranti.   

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs