Frostkrone, the Germany-based frozen convenience food supplier, has acquired America’s Rite Stuff Foods, gaining entry into the US market in the process.
It is Frostkrone’s second deal in a matter of months. In January it bought France-based finger food manufacturer Varenne Gastronomie.
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Idaho-based Rite Stuff Foods, founded in 1989, produces potato specialities – such as stuffed potato boats, potato wedges and potato pancakes – and has more than 230 employees.
Its products are sold in both the retail and foodservice channels.
Frédéric Dervieux, CEO of Frostkrone, said: “We have been exporting our products to the U.S. since 2017 so that this is a natural development for us. By acquiring Rite Stuff Foods, we now have a local presence that has come about as a result of developments and discussions with our trading partners. Rite Stuff Foods is firmly established in the US and has an excellent network.”
Since the beginning of 2017 Frostkrone has been a portfolio company of private-equity firm Emeram.
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By GlobalDataSpeaking about the Rite Stuff deal – the terms for which were not disclosed – Emeram managing director Dr Christian Nather said: “With the acquisition of Rite Stuff Foods we are opening a new chapter of Frostkrone’s corporate development. After having strengthened Frostkrone’s position in Europe over the last two years, the expansion into the US is now the next step to further implement the company’s growth strategy.”
