Golden State Foods (GSF) has taken full ownership of KanPak US and KanPak China, through the acquisition of outstanding shares in the companies that it did not already hold.
Dennis Cohlmia, KanPak founder and chairman, opted to sell his remaining interests in the company to pursue “other business opportunities”, GSF said. Financial details of the transaction were not disclosed.
“We appreciate Dennis and his family for their entrepreneurial spirit in establishing KanPak five decades ago, along with his knowledge and expertise of aseptic processing,” said Mark Wetterau, chairman and chief executive officer of GSF. “We are grateful for his insight and willingness to partner with Golden State Foods in recent years to expand the company’s product offerings and services throughout the world and take the company to the next level.”
KanPak produces an array of aseptic dairy products, including soft-serve ice cream, smoothies, coffee creamers and extended shelf-life products.
Existing president and CEO Larry McGill will continue to oversee KanPak US, GSF revealed.
GSF has been a majority owner in KanPak China since 2012 and KanPak US since 2013, comprising eight facilities worldwide.