Investor-backed Passport Foods, an ethnic cuisine manufacturer, has sold a facility in Washington state, along with a couple of brands to SAVr, a producer of Chinese-style products.
SAVr, located in Seattle, Washington, will purchase Passport Foods’ plant in the city of Kent, along with its The House of Bee and Golden Pheasant brands for an undisclosed sum.
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By offloading the brands, Passport chief executive Mark Thomson said the Ontario, California-based business can now focus on its core ethnic foods portfolio such as its Mexican line-up. The company, which is owned by private-investment firm Skyview Capital in Los Angeles, supplies the retail, foodservice and club channels.
Skyview Capital CEO Alex Soltani said the divestiture will allow Passport to pursue strategic acquisitions.
The House of Bee and Golden Pheasant brands include noodles, Chinese sauces, spices, rice products and canned fruit.
Isaac Cheng, the vice president of operations at SAVr, added: “We are extremely excited by this acquisition as it allows us to launch modernisation of our manufacturing processes. These enhanced manufacturing capabilities and capacity provide great opportunities for us to extend our national accounts and widen our distribution network.”
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By GlobalData
