BALDWIN RICHARDSON FOODS COMPLETES ACQUISITION OF PENNSAUKEN PACKING COMPANY, LLC

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Apr 09, 2024, 09:39 ET

Purchase of the Pennsauken, New Jersey-based facility expands Baldwin Richardson Foods' aseptic beverage manufacturing capabilities cementing its position as a leading full-service liquid products supplier

MACEDON, N.Y, April 9, 2024 /PRNewswire/ -- Baldwin Richardson Foods, a leading custom ingredients manufacturer for the food and beverage industry, announced today that it has completed its acquisition of New Jersey-based Pennsauken Packing Company, LLC. This transaction expands Baldwin Richardson Foods' aseptic beverage manufacturing capabilities into new geographies, enabling it to serve customers from coast-to-coast, and accelerating its long-term commercial strategy to be a full-portfolio liquid products supplier across the food and beverage industry. Moving forward, the unified organization, including the Pennsauken facility, will operate as Baldwin Richardson Foods.

Baldwin Richardson Foods completes the acquisition of Pennsauken Packing Company, LLC (PRNewsfoto/Baldwin Richardson Foods)

"At Baldwin Richardson Foods, we're committed to finding new ways to exceed our customers' expectations and today's milestone supports that goal," said Erin Tolefree, CEO and President at Baldwin Richardson Foods. "Expanding our aseptic beverage manufacturing platform allows us to grow with our customers, helping them keep pace with consumer demand in a thriving category experiencing significant growth. We're excited about what we can achieve in the future, bringing more to the table together."

Aseptic manufacturing solutions make safe, shelf-stable, preservative-free products while maintaining maximum freshness, flavor, texture and nutritional value. In March 2023, Baldwin Richardson Foods first expanded its manufacturing capabilities to aseptic products with the acquisition of an aseptic manufacturing facility in Corona, California. By adding the Pennsauken facility to its portfolio, Baldwin Richardson Foods strengthens its commitment to the aseptic beverage category.

The state-of-the-art manufacturing site includes best-in-class aseptic processing lines (both high and low acid) capable of producing high-quality, high-demand beverages in sustainable packaging. The Pennsauken facility is both CCOF and USDA Organic certified. Under terms of the transaction, Baldwin Richardson Foods will retain Pennsauken's customers, including blue chip, industry-leading brands in the retail CPG category.

Over the past 27 years, Baldwin Richardson Foods has become one of the largest Black family-owned, women-led businesses in the food industry. Today, the third generation of entrepreneurs leads the company on its mission to enrich the flavor of life. It is a partner of choice to iconic Quick Service Restaurants (QSRs), CPG brands, and food service companies. Baldwin Richardson Foods provides the food and beverage industry with a one-stop manufacturing solution for a wide range of sauces, syrups, toppings, and fillings as well as beverage products such as plant-based milk alternatives, fruit juices, flavored waters, concentrates and purees, teas, bar cocktail mixes, smoothies, coffee and creamers, in a variety of bottle, carton and pouch sizes.

"This acquisition strengthens our position as a leader in the aseptic beverage space," said Cara Hughes, Vice President of Customer and Community at Baldwin Richardson Foods. "We're able to provide customers with the innovation and operational excellence they've come to expect from Baldwin Richardson Foods, blended with exceptional talent, world-class assets, enhanced capabilities, and capacity of the Pennsauken site to allow our customers to achieve their vision of long-term growth."

With its expanded footprint, Baldwin Richardson Foods is able to serve new geographies and broaden the reach of its extensive community impact. Currently, the company and its employees dedicate resources and support to organizations that make an impact by creating opportunities that advance equity and build pathways for individuals to reach their fullest potential.

Financial terms of the transaction were not disclosed. BMO Capital Markets, Levenfeld Pearlstein, LLC, and Ropes and Gray, LLC served as Baldwin Richardson Foods' exclusive financial and legal advisors, respectively.

For more information about Baldwin Richardson Foods, visit www.brfoods.com.

About Baldwin Richardson Foods
Baldwin Richardson Foods is focused on enriching the flavor of life. As a full-service liquid products supplier and strategic partner to the food and beverage industry, Baldwin Richardson Foods combines its formulation expertise and unique packaging options with robust processing capabilities to produce high-quality sauces, toppings, syrups, fillings, and shelf-stable beverages for the world's most iconic Quick Service Restaurants (QSRs), Consumer Packaged Goods (CPG) brands, and food service companies. Its state-of-the-art Innovation & Culinary Center transforms trends and culinary inspiration into legendary products through an award-winning commercialization process. The company also manufactures and markets Mrs. Richardson's dessert sauces and Nance's mustards/condiments in addition to producing finished goods for the private label sector. BRF maintains its headquarters and a manufacturing facility in Macedon, New York; with a Culinary Innovation Center in Westmont, Illinois; and offices and manufacturing facilities in Williamson, New York; Pennsauken, New Jersey; and Corona, California.

SOURCE Baldwin Richardson Foods