Land O'Lakes Announces Definitive Agreement to Purchase Kozy Shack Enterprises
Deal provides strong strategic fit for value-added portfolio; growth in dairy desserts category
ARDEN HILLS, Minn., July 10, 2012 /PRNewswire/ -- Land O'Lakes, Inc. today announced it has signed an agreement to acquire Kozy Shack Enterprises, Inc., a market leader in the chilled dairy desserts category in North America.
Land O'Lakes President and CEO Chris Policinski said, "Kozy Shack is a strong strategic fit with our value-added dairy foods product portfolio. This long-time company – known for its strong brand and reputation for quality -- opens the door for Land O'Lakes to achieve future growth in the attractive dairy dessert category."
Kozy Shack President and Chief Executive Officer Robert Striano said, "It is exciting for the 40-plus year-old Kozy Shack brand to be infused with expanded resources and brand-building focus. The future is bright for the Kozy Shack business as a strategic brand within the Land O'Lakes portfolio."
Terms of the acquisition were not disclosed. The transaction is subject to customary closing conditions. The deal is expected to close on July 31.
Kozy Shack, based in New York, was founded by Vincent Gruppuso more than 40 years ago, and has remained a family-owned company. Kozy Shack is a leading manufacturer and marketer of premium dessert products in the U.S. and Canada, and has a presence in Ireland for European customers. Production facilities are located in Hicksville, NY, Turlock, CA, and Lough Egish, Ireland (60 miles north of Dublin). The company also owns and operates a logistics services company, Freshway Distributors.
According to Policinski, the acquisition of Kozy Shack offers several benefits for Land O'Lakes. "The acquisition of Kozy Shack represents a new category for the cooperative – refrigerated desserts – which enables us to provide our retail customers with an even wider selection of premium dairy food products."
Policinski noted that Land O'Lakes will apply its extensive sales, marketing, distribution and customer service expertise to expand sales of Kozy Shack products. In addition, the simple ingredients in Kozy Shack desserts reflect the same focus on quality, wholesome ingredients and products that has been the hallmark of Land O'Lakes throughout its 90-year history.
"We're looking forward to the addition of Kozy Shack to our portfolio," Policinski added. "The company is comprised of great people, first-rate production facilities, and products that exceed the consumer's expectation for quality. This makes Kozy Shack a perfect fit for Land O'Lakes."
Land O'Lakes, Inc. (www.landolakesinc.com) is a national, farmer-owned food and agricultural cooperative with annual sales of nearly $13 billion. The nation's second-largest cooperative and number 210 on the Fortune 500, Land O'Lakes does business in all 50 states and more than 60 countries. It is a leading marketer of a full line of dairy-based consumer, foodservice and food ingredient products across the United States; serves its international customers with a variety of food and animal feed ingredients; and provides farmers and ranchers with an extensive line of agricultural supplies (feed, seed, and crop protection products) and services. Land O'Lakes also provides agricultural assistance and technical training in more than 25 developing nations.
Noted as a "Supermarket Gem" by The New York Times for its ready-to-eat wholesome and delicious taste, Kozy Shack® traditional products meet today's consumer lifestyle. For more than 40 years, Kozy Shack® has been providing the finest quality, ready-to-eat refrigerated desserts. Packaged for convenience, the products are available in ready-to-serve portions in the dairy cases of food retailers across the country. For this and other Kozy Shack® products, visit us at www.kozyshack.com or become a fan on Facebook.
SOURCE Land O'Lakes, Inc.Back to top