US-based food processor and distributor Golden State Foods has acquired a majority stake in Groenz through a joint venture agreement.
Groenz is a manufacturer of sauces, dressings, condiments and powders for the quick service restaurant (QSR) and foodservice industries in New Zealand, Australia and the Pacific Islands.
It manufactures three main brands: French Maid, Kiwi Style and In-House Systems, which are sold through its foodservice channel.
Golden State Foods chairman and chief executive officer Mark Wetterau said that the acquisition enhances the company's existing product offerings and service to its customers.
"This opportunity with Groenz is a continuation of our strategy to support our customers in their local markets," Wetterau added.
Groenz managing director Fred Groen said: "With this new formed partnership, Groenz will have the enhanced resources, market reach and product offerings to fully reach its potential and continue its commitment to the New Zealand economy as a whole."
Golden State Foods, founded in 1947, is a diversified supplier of processed liquid, meat, produce and bakery products to the quick service restaurant industry with approximately 4,300 employees across its 34 facilities.
