Loading tweets...
Panos, a producer of branded consumer foods, has announced the acquisition of Tessemae’s, a specialist in refrigerated and shelf-stable organic salad dressings, for $4.5 million.
The acquisition follows Tessemae’s decision to file for voluntary Chapter 11 bankruptcy protection to restructure its debts.
Founded in 2009, Tessemae’s grew rapidly to secure distribution in national grocers, retailers and hotel chains.
Commenting on the acquisition, Panos CEO Darcy Zbinovec said: “Tessemae’s offers a range of great tasting, organic salad dressings that consumers love. The products align with consumer interest in clean labels, and will be a great complement to our Walden Farms line of better for you salad dressings. We’re excited to partner with Retailers to expand availability of Tessemae’s across markets to service the strong consumer interest in the refrigerated and shelf stable dressings”.
Source: Panos / Baltimore Business Journal
