Lancaster Colony subsidiary acquires Omni Baking for 25m

Lancaster Colony subsidiary acquires Omni Baking for 25m

first_imgLancaster Colony subsidiary acquires Omni Baking for $25mPosted By: Martin Whiteon: November 20, 2018In: Business, Food, Industries, Mergers & AcquisitionsPrintEmailLancaster Colony Corporation subsidiary T. Marzetti Company has acquired frozen bread manufacturer Omni Baking Company for $25 million.Omni Baking Company produces a range of frozen products such as garlic bread for clients in the foodservice industry, and the company has been a long-term supplier to Lancaster Colony’s garlic bread business, including its New York Bakery brand.Lancaster Colony says that the acquisition will give the company increased control over the supply and production of its frozen garlic bread products, and enable production capacity expansions in the future.Lancaster Colony’s CEO David A. Ciesinski said: “We are pleased to complete this strategically important transaction that leaves us better positioned to manage and control the future supply and growth of our frozen garlic bread operations.“We evaluated a number of different scenarios for the continued expansion of New York Bakery, and determined this asset purchase to be the most practical and cost-effective solution for our long-term business needs.“I would also like to extend a warm welcome to the Omni Baking employees as they join our family of Lancaster Colony companies.”The deal represents the second major acquisition made by T. Marzetti Company in the last month, following the $34 million deal for frozen bagel producer Bantam Bagels completed in October.Share with your network: Tags: breadLancaster ColonyOmni Baking CompanyT. Marzetti CompanyUSlast_img


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