US-based Kosher and speciality foods supplier and distributor Kayco has acquired Paramount Foods, a New Jersey-based family-owned business.
Founded in 2006, Long Hill Township headquartered Paramount Foods provides bulk nuts, dried fruits and grains to supermarkets in northern New Jersey.
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The business also offers a wide range of “natural and organic healthy snacks”.
The companies did not disclose the financial terms of the deal.
In a statement, Kayco, also based in New Jersey, said that this “strategic acquisition” highlights its commitment to broadening its portfolio, enhancing distribution in the north-east and providing “unmatched value to its retail partners”.
Kayco chief sales officer Harold Weiss said: “This acquisition reflects our vision to expand our assortment and further enhance our distribution network in the critical north-east corridor.
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By GlobalData“By bringing Paramount Foods into the Kayco family, we’re not only broadening our brand offerings but also improving service levels and cost efficiencies for our retail partners. The Paramount portfolio will augment our current assortment on a global scale.”
Through the Paramount Foods takeover, Kayco, which supplies products such as olive oil, pasta and houmous, also plans to strengthen its market presence and improve “its ability to meet the diverse needs of customers and retailers alike”.
David Carn, the current owner of Paramount Foods, expressed optimism about the takeover by Kayco, nothing that the Kosher food distributor’s “scale, expertise, and commitment to innovation will ensure that we can collectively achieve more – both for our customers and for the families who depend on us”.
Kayco was formed through the merger of Kedem Foods, Kenover Marketing and B&W Foods in 2019.
Its products are available in “over 30 countries” and are sold at independent grocers as well as supermarket chains across the US.
Kayco’s portfolio includes “over 80 brands”, including Manischewitz, Kedem, Gefen, and Tuscanini.
