German cheese maker Hochland has bought 100% of the shares in Franklin Foods and its sister companies, according to a press release.
Franklin Foods, a US cream cheese producer described as one of the fastest growing cheese companies in the country, said it would maintain its operational independency as a subsidiary of Hochland SE. Franklin Foods’ strong manufacturing and sales platform in the US cream cheese market would complement Hochland’s international growth strategy, the former added.
Commenting on the acquisition, Franklin Foods CEO Jon Gutknecht said: “Hochland and Franklin share a common vision around providing superior customer service, creating best-in-class products, and ensuring a company culture that strives to make a difference for our customers and brands. As a company with a successful 100-year heritage, we are especially proud to join Hochland in 2017 as they celebrate their 90th Anniversary, and we look forward to many great years ahead”.
Hochland CEO Peter Stahl stated: “We are very excited about this acquisition”, adding: “Franklin’s strong market position, nationwide distribution and two modern production plants offer Hochland the ideal platform for the successful implementation of our own brands and products in the USA”.
Source: Franklin Foods