RPM International Inc. has announced that its Mantrose-Haeuser Co subsidiary, which is within the RPM Specialty Products Group, has purchased US-based Holton Food Products Company, a US-based supplier of food stabilizers and dry egg white products for the bakery and prepared food segments
Holton, which is located in LaGrange, near Chicago, Illinois, has yearly net sales of $7m.
Financial details of the transaction have not been divulged.
The deal is expected to be accretive to earnings within one year.
Holton supplies high-strength dry egg white products, which are used with its food stabilizers, for small- or large-scale, high-speed production of meringue toppings, fillings, cookies, cakes, pies, and other dessert and entrée items.
Holton's products are primarily sold to large bakery and food companies to optimize appearance, texture, moisture control, production efficiency, freeze-thaw stability and shelf life.
Ross, John and David Holton, sons of the founder, will continue to operate the business.
RPM chairman and CEO Frank C Sullivan said: "Holton, with its high degree of expertise in food stabilizers, is a good strategic fit with our subsidiary, Mantrose-Haeuser.
"The acquisition expands Mantrose's range of specialty food ingredients and provides a key entry into the bakery market.
"We expect to grow Holton internationally by leveraging its products across the Mantrose-Haeuser distribution network."
