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Panos Brands acquires Ry-Con Specialty Foods, Inc. |
12.21.2012
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High Road Capital Partners announced on Dec. 20 that its portfolio company Panos brands, LLC has completed the acquisition of Ry-Con Specialty Foods, Inc., a producer and distributor of the Andrew & Everett brand of hormone- and antibiotics-free cheese. The transaction represents the first add-on acquisition Panos has completed under High Road's ownership.
Acquired by High Road in December 2010, Panos manufactures and markets natural and specialty food and beverage products in the U.S. and Canada. Its brands include KA-ME, a comprehensive line of Asian food products; MI-DEL all natural and gluten-free cookies; Sesmark rice and wheat crackers; and Amore cooking pastes.
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"Andrew & Everett has established strong brand recognition among retailers and consumers of natural foods for high-quality, good tasting and healthier products," said William Connell, a High Road Partner. "Ry-Con has developed a broad product portfolio and will benefit from PANOS' well established distribution channels."
"Our acquisition further broadens PANOS' product line in the natural and gluten-free categories. We will continue to seek opportunities to expand our product portfolio, whether by introducing new products under existing brands or making add-on acquisitions," said Steven Grossman, CEO of PANOS.
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