House Foods Holding USA, a subsidiary of Japan-based House Foods Group, has announced the acquisition of US based Keystone Natural Holdings, described as a leading manufacturer of tofu and plant-based foods in North America.
In a statement, Keystone Natural Holdings, whose brands include Nature’s Soy brand, will help House Foods to boost its portfolio of plant-based products and expand its presence in North America, increasing the factories it operates from two to eight.
Chaoran Jin, managing director of Keystone Capital, said: “During our partnership, we invested significantly to expand KNH’s brand presence, manufacturing capacity, product development capabilities, as well as the leadership team, in order to provide a broad range of healthy, innovative plant-based food products for grocery, club and foodservice customers”.
Keystone Natural Holdings’ CEO Kenny Sung commented: “Keystone Capital has been a great partner to work with, helping us successfully expand into additional strategic segments, which has positioned us to better serve our retail and food service customers in the ethnic and mainstream channel. With Keystone Capital’s help, we have integrated three add-on acquisitions, which has broadened our core market and accelerated our growth”.
Financial details were not disclosed. The deal is expected to close by the end of the month.
Source: Keystone Natural Holdings (via PR Web)