Sugar Foods, renowned for its range of crunchy toppings, croutons, beverage ingredients, and pizza toppings, has completed the acquisition of Concord Foods from private equity firm Arbor Investments. The specific terms of the acquisition have not been disclosed.
Concord Foods produces a variety of products including beverage syrups and toppings, confectionery fillings, ice cream bases and variegates, caramels, stabilized fruit products, chocolate items, and dry blend mixes.
With this acquisition, Sugar Foods will integrate Concord’s 255,000-square-foot facility located in Brockton, Massachusetts, into its operations. Brands such as Concord Fresh Success, Simply Concord, Italia Garden, Oringer, and RedEMade from Concord Foods will now become part of Sugar Foods.
“Today marks a pivotal moment in Sugar Foods’ growth journey,” said Andrea Brule, president of Sugar Foods. “Concord and Sugar Foods share a long and successful history of customer-led innovation and service, and, with our complementary capabilities, I am confident that, together, we will maximize customer value and unlock new growth opportunities. This transaction combines the best of both organizations, and I look forward to welcoming the talented Brockton team to our Sugar Foods family.”
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In 2015, Arbor Investments acquired Concord Foods, a family-owned business, from its second-generation family owner and CEO, Peter Neville.
Following the acquisition, Arbor Investments stated that Neville continued his involvement with the company by assuming the role of chairman of Concord’s board of directors.
“We’re very proud of the growth and operational transformation that we catalyzed at Concord,” said George Russell, principal at Arbor Investments. “Our goal was to take the strong foundation built by the Neville family and strengthen it with a world-class team, leading R&D and production capabilities, and innovative ingredient offerings. The business is a natural extension for Sugar Foods and we’re excited to see Concord’s next chapter of growth under their ownership.”
