Specialty Foods Announces Bakery Acquisitions

Specialty Foods Corp. (Deerfield, IL) has signed definitive agreements to acquire Archway Cookies, Inc. and the San Diego Bread Company. Terms of the individual agreements were not disclosed, although the company said that together the acquisitions would represent an investment of over $100 million.

"The acquisitions significantly strengthen our position as one of the nation's leading branded baked goods companies," said Lawrence Benjamin, president and CEO of Specialty Foods.

Archway, based in Battle Creek, MI, produces more than a billion cookies annually at two company-owned bakeries in Ashland, OH, and Boone, IA, and four licensed bakeries in the U.S. and Canada. The company bakes more 60 varieties of cookies, including homestyle, holiday and sugar free products under the Archway brand name.

"The addition of Archway to our mother's cookie business will establish Specialty Foods as the third largest cookie company in the U.S. with significant opportunities for growth," said Benjamin.

"We continue to pursue bread acquisitions that complement our existing bread brands. San Diego Bread Company, our most recent bread acquisition, solidifies the position of our Boudin brand as the premier traditional sourdough bread in California," added Benjamin.

Specialty Foods Corporation, a leading food manufacturer, is a group of companies engaged primarily in baked goods with additional operations in prepared meats.