Land O’Lakes enters Kozy Shack chilled dairy desserts acquisition agreement
The takeover, if completed, will represent Land O’Lakes’ first venture into the chilled dairy desserts category – adding to its already bulging dairy product portfolio which includes cheese, butter and dairy ingredients.
Kozy Shack, which manufactures and markets premium dessert products, has a presence in the US, Canada and Ireland and boasts production facilities on both sides of the Atlantic.
The takeover, which is subject to regulatory approval, is expected to be completed on 31 July 2012.
No further details of the proposed acquisition have been disclosed by Land O’Lakes or Kozy Shack.
Strategic fit
“Kozy Shack is a strong strategic fit with our value-added dairy foods products 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 desserts category,” said Land O’Lakes CEO Chris Policinski.
“The acquisition of Kozy Shack represents a new category for the cooperative – refrigerated deserts – which enables us to provide our retail customers with an even wider selection of premium dairy food products.”
Kozy Shacks product portfolio includes rice pudding, flan and lactose free desserts and it boasts production facilities in New York, California and County Dublin, Ireland.
“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 expectations for quality. This makes Kozy Shack a perfect fit for Land O’Lakes.”
Kozy Shack president and CEO Robert Striano added: “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.”
More to follow….
