Homegrown Brands, a US-based accelerator for the CPG industry, said it has completed an “integration” of condiments and dressings business SVB Foods.
“The combined company will continue under the Homegrown Brands name and will focus on enhancing the company’s market position and future growth objectives,” Homegrown Brands said in a statement.
“This strategic action was driven by Homegrown Brands’ desire to expand its business portfolio by uniting with a high-growth food company. SVB Foods is uniquely positioned given its work with premium brands and ability to deliver innovative product offerings.”
West Virginia-based SVB Foods is a contract manufacturer making condiments, including salad dressings, marinades and sauces. The company operates a 70,000-square-foot production facility in West Virginia, according to a separate statement last week announcing SVB Foods’ acquisition of local peer Vita Specialty Foods.
Homegrown Brands, located in West River, Maryland, was created by the founders of Tessemae’s, a producer of organic dressings, marinades, and condiments, according to the former company’s website.
Tessemae’s was set up in 2009 by founder and CEO Greg Vetter, who is the “creation director” at Homegrown Brands. His brother Brian is chief growth officer, the accelerator’s website shows.
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Greg Vetter is also the CEO of Homegrown Brands, saying in the statement announcing the integration: “Uniting with SVB Foods was a game-changing opportunity. This development aligns well with our priorities going forward as it will significantly enhance our scale and ability to meet the growing needs of our customer base.”
A spokesperson for Homegrown Brands confirmed to Just Food that the company has “harmonised the two entities” – SVB Foods and Specialty Foods.
SVB Foods bought Vita Specialty Foods from Chicago-based seafood business Vita Food Products for an undisclosed sum. Vita Specialty Foods, based in Virginia, offers a portfolio of food products through licensing agreements and private label. It also has its own brands, including Vidalia Onion Vinaigrette.
The statement announcing the SVB Foods-Vita Specialty Foods deal carried a comment from Terry Hess as the CEO of the acquiring business.
“Today marks a momentous occasion for SVB Foods as we announce our intent to join the Homegrown Brands’ family,” Hess said.
“The prospect of joining forces with a company that was so complementary to ours was attractive on a host of fronts, our shared commitment to quality and innovation being the most important.”