House Foods Holding USA has signed an agreement to acquire Keystone Natural Holdings (KNH), a North American manufacturer of tofu and plant-based foods, from Keystone Capital.
The acquisition will expand House Foods’ portfolio of tofu and plant-based food products, and accelerate its US market expansion plans. The combined company will have eight manufacturing facilities across North America.
“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,” said Chaoran Jin, managing director of Keystone Capital.
Kenny Sung, CEO of KNH, added: “Keystone Capital helped us successfully expand into additional strategic segments, which has positioned us to better serve our retail and foodservice customers in the ethnic and mainstream channel. We have integrated three add-on acquisitions, which has broadened our core market and accelerated our growth. We look forward to working with House Foods to continue our growth trajectory.”
The proposed transaction is expected to close by the end of the month.
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