Quirch Foods and Colorado Boxed Beef, two US companies offering a range of protein products, predominantly meat, have finalised a deal to merge.
Financial terms were not disclosed but, Florida-based Quirch, announcing the completion of the transaction, said the move would increase its ability to supply to foodservice distributors.
Colorado Boxed Beef, previously owned by US private-equity firm Altamont Capital Partners, brings with it a range of brands, including Great Fish Co. and High River Angus.
Frank Grande, Quirch’s president and CEO, will lead the combined company. John Rattigan Jr., president and CEO of Colorado Boxed Beef, has been named chief growth, strategy and M&A officer.
“With Colorado Boxed Beef and its operating companies now part of our unique portfolio of leading protein companies, we have increased our core domestic retail business and expanded into new geographies and channels,” Grande said. “As a result, we are delivering a broader and more diverse product offering, including a number of new brands, that will help our customers differentiate and grow their businesses.”
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Quirch, owned by affiliates of another US private-equity firm, Palladium Equity Partners, said the deal meant the enlarged company now generates annual sales of more than US$3bn.
Rattigan added: “Quirch Foods, backed by Palladium Equity Partners, is committed to creating the leading protein portfolio in the industry and we are excited to be part of this growth.”
Chris Allen, a partner at Palladium Equity Partners, said the deal, after the acquisition of Tennessee-based distributor Butts Foods earlier this year, was “in line with our strategy as the management team continues to build the company into a leading distributor and exporter of protein and ethnic food products in the US”.