e-News
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World's Best Cheeses completes CWI asset acquisition |
10.19.2012
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World's Best Cheeses (WBC) announced on Thursday that it has completed the acquisition of assets of CWI Specialty Foods from its secured lender, after the latter company was put into foreclosure.
"After seven years of ownership by financial institutions, CWI returns to being owned by a cheese entrepreneur," said the company's release.
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CWI's Ringwood, NJ facility (now named World's Best Cheeses/CWI) will remain operational until late winter 2013, when a sales and purchasing office will be established in New Jersey. Concurrently, warehouse operations will be consolidated in Armonk, NY.
The California division of CWI will remain the same, with only a name change, to World's Best Cheeses West, Inc. Customers will be able to order from any of the four sales offices.
"This acquisition is another great step in achieving our ambitious growth strategy. Combining both businesses will allow us to serve our customers better, and continue with exceptional products. It will give us access to new product lines and a distribution platform in California. We are very excited about all the opportunities this acquisition offers us," said Joe Gellert, WBC's President and owner.
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