Harlan Bakeries, a contract manufacturer of bread, pies and cakes in the US, has acquired AmeriQual Group Holdings, a supplier of ready meals to the country’s military and branded food producers.
Family-owned Harlan Bakeries, based in the town of Avon in Indiana, secured undisclosed equity financing for the deal from asset manager Turning Rock Partners in New York, while the company’s shareholders and management also contributed funds.
Headquartered in Evansville in the same state, AmeriQual Group is also a privately-held business founded in 1987. The company operates five manufacturing plants across the states of Indiana, Georgia and North Carolina. It “counts many major branded food companies as customers”, the business notes on its website.
Harlan Bakeries president Hugh Harlan said in a statement: “I am excited for the opportunity to work with all of our employees to vertically integrate both businesses and to ensure continued growth and success for both companies.”
Dennis Straub, Harlan Bakeries’ counterpart at AmeriQual Group, added: “The AmeriQual team is excited to be partnering with Harlan Bakeries as we move towards the next phase of our company’s growth. We believe that there are multiple growth opportunities with this combination and that our company cultures are very similar.”
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Louis Mayer, vice president at Turning Rock Partners, said Harlan Bakeries is “committed to scaling the business” post-transaction.