Investindustrial/2. Acquired Parker Food group
Today concluded the agreement with Riverside company for the company of special ingredients with high added value
The summer of Investindustrial is not over (see other article), which today acquired the American Parker Food group from Riverside company. It is a leading company in the development and production of special ingredients with high added value in the North American market, with particular attention to inclusions and toppings. The company, based in Fort Worth, Texas, has invested significantly in its manufacturing facilities: it has 3 factories in the United States, located in Mexico (Missouri), Perry (New York) and Fort Worth respectively.
From today it will be part of Investindustrial's largest group of food ingredients companies, including CSM Ingredients, Hi-Food and Italcanditi, which together have a turnover of almost EUR 1 billion.
The company's product offering includes inclusions, i.e. fillings and ingredients for baked goods and ice cream, such as chocolate chips, but also toppings, grains / streusel, pralines and components for biscuits that are sold to industrial customers B2C and B2B and to customers operating in catering services. A market which was worth USD 1.7 billion in 2021 in North America and which is expected to continue to grow at a rate of 10% until 2026: it will be driven by the growth in the volume of end markets and greater penetration of the ingredients of special inclusions than more traditional ones.
"We are building an ingredient-tech platform with the vision of creating unique and innovative solutions for the food industry - emphasizes Andrea C. Bonomi, president of the industrial advisory board of Investindustrial -. Parker Food group will join our family of investments in ingredients and will collaborate with the current portfolio companies . P
arker Food Group has the best profitability in the industry: in the last ten years it has recorded double-digit growth in turnover. The company employs about 370 people and is led by CEO Greg Hodder, who joined Pfg in 1999. "With strong experience in the sector, Investindustrial can only be our best partner - explains Greg Hodder, CEO of Pfg -. With his help as a responsible investor and specialist in the sector, we look forward to accelerating growth and enter new markets".
EFA News - European Food Agency