Lancaster Colony Acquires US Grain Bakery Products Maker Angelic Bakehouse.
M2 EQUITYBITES-November 7, 2016-Lancaster Colony Acquires US Grain Bakery Products Maker Angelic Bakehouse
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7 November 2016 - Ohio-based specialty foods maker Lancaster Colony Corp.'s (NASDAQ: LANC) T. Marzetti Co subsidiary has agreed to acquire all of the assets of US-based sprouted grain bakery products maker Angelic Bakehouse, Inc., the company said.
The transaction is expected to close later this month.
This acquisition will be funded internally with cash on hand and is not material to the financial position of Lancaster Colony Corp.
Other terms of the transaction are not disclosed.
Lancaster Colony Corp. is a manufacturer and marketer of specialty food products for the retail and foodservice markets.
Angelic Bakehouse is a manufacturer and marketer of branded premium and non-GMO sprouted grain bakery products primarily for the retail markets.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 7, 2016|
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