| Lakeside Foods, Inc. announced today
that it has completed the acquisition of three manufacturing facilities in the Midwest
from Seneca Foods Corporation, Marion, NY. The three plants had previously been owned and
operated by Chiquita Processed Foods, a subsidiary of Chiquita International, Cincinnati,
OH. They were acquired as part of a three way transaction in which Chiquita Processed
Foods divested itself of all of its production operations in the processed vegetable
business, with Lakeside and Seneca each acquiring plants and warehouses. Lakeside acquired
vegetable processing plants in New Richmond and Eden, WI and Owatonna, MN. They will also
acquire a distribution center in Poynette, WI and part ownership in a sauerkraut joint
venture at the same location in a subsequent transaction scheduled for completion by July
31, 2003. "This is the largest single acquisition in Lakeside's history," said
Doug Quick, Lakeside's president and CEO. "We believe these new plants, together with
our existing facilities, position Lakeside well to meet the present and future needs of
our customers."
Jeff Lund, senior vice president, processed food sales, noted that, "This
acquisition not only significantly increases our vegetable processing capacity but also
results in new items being added to our product line. It provides us with the opportunity
of serving new customers and markets, both domestically and internationally."
"We have been impressed with the people we have met at each of our new
locations," commented Dan Cavanaugh, senior vice president, operations. "They
are great additions to our already outstanding Lakeside team."
Lakeside Foods is a privately held, leading international food processor. It has
headquarters in Manitowoc, WI, thirteen plants and nine distribution centers in Wisconsin,
Minnesota, and Ohio, and employs an average of 1700 people. Lakeside produces a diverse
line of nutritional food products, including canned and frozen vegetables, canned dry
beans (kidney, black, pork & beans, etc.), jellies and preserves, frozen and
shelf-stable meals, canned meats and stew, organic products, health beverage supplements,
non-dairy frozen dessert toppings, salsa, and other other sauces.
For more information, contact Doug Quick or Tom Reilly at (920) 684-3356. |
