US-based manufacturer of sauces and dressings Ventura Foods has completed the acquisition of Canadian Wing’s Foods’ sauces and condiments business.
The acquired business will become part of Ventura Foods Canada and function as its wholly-owned subsidiary.
The acquisition is intended to help Ventura Foods gain better reach with Canadian customers, increase the company's technical expertise in sweet sauce and liquid product segments, thereby enhancing the portfolio of both the companies.
It must be noted that Wing's Asian Heritage business that includes noodle, wrap and cookie business, is not part of the deal and hence, would continue to function under Wing's Food Products and retain the Wing's Brand.
Ventura Foods president and CEO Chris Furman said: "Wing's is a great strategic fit for Ventura Foods. Both companies are customer-focused with similar cultures and capabilities, as well as complementary products.
"We expect to continue the great tradition and standard that Wing's has set in Canada as we continue our strategy of growth through diversified product offerings that puts our customers' needs first. We are particularly excited to welcome the talented and experienced Wing's employees, with their heritage of exceptional service and industry-leading innovation, to the Ventura Foods family."
Jamie D'Agosta, who was recently anointed as SVP of Retail at Ventura Foods, will now become the senior vice president and general manager at Ventura Foods, Canada. The current Wing's sauces and condiments senior management team will remain intact.
Ventura Foods is a manufacturer of oils & shortenings, margarines & butter blends, mayonnaises and dressing & sauces catering to foodservice, retail and ingredient clients. The company is a privately held joint venture of CHS, Inc. and Mitsui & Co.
Image: Wing's Foods manufactures sauces and condiments. Photo: Courtesy of jk1991/FreeDigitalPhotos.net.
