Lancaster Colony acquires Warren assets
Dec 15, 2003 12:00 PM, from staff and wire reportsThe board of directors of Lancaster Colony Corp has acquired the operating assets of Warren Frozen Foods Inc, a privately owned producer and marketer of frozen noodle and pasta products based in Altoona IA.
Bruce L Rosa, president of Lancaster ColonyÕs Specialty Foods Group, said, ÒWe feel WarrenÕs strength in these markets nicely complements our existing Reames frozen noodle operations, which have a greater presence in retail markets. WarrenÕs current annual sales volume exceeds $18 million, and the cash purchase price was somewhat greater than one times sales.Ó
Warren senior management will continue to direct the acquired operations as a division of LancasterÕs Reames Foods Inc, which is also based in the Des Moines area.
The Lancaster Colony Specialty Foods GroupÕs retail focus is on the supermarket produce department and frozen case, and its foodservice focus is on national restaurant chains.