Rich Products to Acquire Dairy Business From Morningstar

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Rich Products to Acquire Dairy Business From Morningstar

08/08/2003
BUFFALO, N.Y. -- Rich Products Corp. said Thursday it has reached agreement with Morningstar Foods Inc., a subsidiary of Dean Foods of Dallas, to acquire Dean's private label frozen whipped topping and frozen creamers business.

Terms were not disclosed though the deal includes a 144,00-square-foot non-dairy manufacturing facility in Arlington, Tenn.

"The acquisition of this frozen private label topping and creamers business advances our ongoing strategy to aggressively grow Rich's US/Canada Group leadership position in our core nondairy product categories," said William Gisel, Rich Products CEO. "It's a win-win as Dean Foods gains an opportunity to exit this business in order to focus resources on the branded refrigerated and dairy market, while Rich's sets the stage for future non-dairy growth."