USA: ACH Food Companies, Inc. announces acquisition of Procter & Gamble Commercial Shortening and Oils business
ACH Food Companies, Inc. (ACH), formerly AC Humko Corp., announces today its intention to acquire the Commercial Shortening and Oil Products business from the Procter & Gamble Company (NYSE: PG). This marks ACH's 14th and largest acquisition in less than five years."This acquisition provides ACH with category leading foodservice shortening and oil brands, such as Frymax® and Whirl®," says Dan Antonelli, president and CEO of ACH Food Companies, Inc. "This business complements our current foodservice shortening and oils business extremely well. This supports our strategy of providing high-value ingredient solutions for our foodservice customers."ACH will acquire the patents, trademarks, product formulations, advertising rights, customer lists and inventory associated with the business. Brands being acquired include Frymax, Primex®, Sweetex® and Nutex® shortenings, Whirl butter-flavored oil and Sterling® salad oil. ACH also will license the Professional Crisco® brand name for a limited period for a number of frying and baking products.Procter & Gamble announced earlier this year its intention to sell the commercial shortening and oil products business. It is expected that this transaction will close in early January.With more than 14 plants across the United States, ACH Food Companies, Inc. markets a broad range of products to the Retail Grocery, FoodService and Food Processor food segments. These products include specialty shortenings and oil-based products, specialty rice products, extruded grain-based particulates, non-dairy spray dried products and cheeses, spray dried savory ingredients, ingredient systems and specialty grain and oil-based food and nutritional ingredients. ACH is a subsidiary of London-based Associated British Foods (ABF), one of the world's largest international food companies.
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