Get Adobe Flash player

Asian

Nasoya to Showcase Plantspired Line at Global Produce & Floral Show

Nasoya, the country’s #1 brand of tofu and a leader in the plant-based movement, will showcase its successful Plantspired line of ready-to-eat plant-based meal solutions, including a first taste of forthcoming innovations, at this year’s Global Produce & Floral ShowOct. 27-29 in Orlando, Fla.

Attendees will sample the popular Plantspired Steak marinated in Korean BBQ sauce as well as a new variety of Plantspired Toss’ables, which feature bite-sized, pre-baked tofu bites marinated with Korean Sweet Chili sauce. The new Plantspired Toss’ables variety will be available at retailers nationwide in 2023.

“Nasoya is committed to meeting consumers where they are on their plant-based journey, offering convenient and delicious Asian-inspired options that appeal to American’s evolving preferences,” said Ellen Kim, director of brand strategy & marketing communications at Pulmuone, parent company of Nasoya. “Our Plantspired products are better-for-you, plant-based solutions created with accessibility and sustainability in mind.”

Nasoya’s first expansion into plant-based meat alternatives, award-winning Korean BBQ Plantspired Steak, is continuing to gain traction with increased retail distribution and food service partnerships since its retail debut in March 2022. Applauded for its craveable taste and meat-like texture, Plantspired Steak has grown its retail footprint at over 4,000 grocers nationwide, with distribution at Wegmans, Publix, Sprouts, Stop & Shop, Albertsons, Vons, Pavilions and more. Sales of Plantspired Steak have increased 800 percent since it originally arrived in grocery stores, highlighting the consumer demand for plant-based food options that don’t sacrifice taste, quality, or nutrition.

Plantspired Steak also continues to make waves in the food service category with products now featured at university dining halls across the country – including University of California RiversideUniversity of California Los AngelesOhio State UniversityGeorgia State UniversityUniversity of MinnesotaRice UniversityVanderbilt and The University of Massachusetts Amherst. Plantspired Steak was also recently showcased and tasted at the popular Los Angeles Vegandale Festival, as well as at Natural Products Expo West earlier this year.

“We’ve worked hard to perfect a plant-based steak product that is charcoal grilled to perfection with Asian-inspired flavors, offering a premium experience in terms of taste and texture. We’re thrilled that our consumers’ reaction to our Plantspired Steak has matched our excitement,” said Sung Yoon Nam, vice president of marketing & sales at Pulmuone. “We’re looking forward to bringing consumers more authentic, sustainable and nutritious plant-based protein options that are convenient and easy to incorporate into a variety of meals.”

Global Produce & Floral Show is one of the largest international fresh produce and floral trade shows, bringing together producers, suppliers, distributors, and other thought leaders in the produce category. Visit Nasoya at the 2022 Global Produce & Floral Show at Booth #1905.

Pick up an issue of Produce Show Daily at the Global Produce & Floral Show. Subscribe to Gourmet News to keep up with trade shows of interest to the specialty food industry.

HKW Recapitalizes Golden Country Oriental Food, Golden Ocean Seafood

HKW has recapitalized Golden Country Oriental Food LLC and its wholly owned subsidiary, Golden Ocean Seafood Inc. The Lee family will remain significant investors in the company, and the management team will remain in place.

Golden Country is a distributor of authentic ethnic foods primarily servicing the grocery, wholesale, and foodservice channels. It is a distributor of frozen seafood servicing the same channels. The company carries more than 3,500 dry, refrigerated, and frozen SKUs sourced from over 20 countries.

“The Lee family has built a tremendous business,” said John Carsello, Partner at HKW. “We have a long track record in specialty distribution and believe we can be a value-added partner for Golden Country as the business enters its next growth phase.”

“From our beginnings as a small grocery store in the early 70s servicing customers in Chicago’s Chinatown, we have grown to service customers throughout the Midwest,” said Sidney Lee, CEO. “This new partnership with John Carsello and his team will enable Golden Country to achieve our ambitious growth objectives and continue to provide our customers with the best product selection at affordable prices.”

“Golden Country is poised to benefit from market and demographic trends and is in a good position to accelerate expansion through add-on acquisitions,” said Michael Terrell, Vice President at HKW. “We intend to use a comparable playbook at Golden Country as we have in the past on similar investments.”

Taft Stettinius & Hollister LLP served as legal counsel to HKW. G2 Capital Advisors, LLC acted as exclusive financial advisor to Golden Country.

For updates on the food and beverage industries, subscribe to Gourmet News.

Blue Point Capital Acquires Asian Appetizer Maker Water Lilies Food

Blue Point Capital has acquired Water Lilies Food, LLC, a portfolio company of AUA Private Equity Partners, with global investment bank Harris Williams advising Water Lilies on the sale.

Water Lilies is a manufacturer of frozen Asian appetizers that are primarily sold through supermarkets, restaurants and ethnic markets.

“Water Lilies is the go-to Asian appetizer supplier for retailers, brands, and foodservice operators and has achieved impressive growth through its consistent innovation and focus on quality,” said Brant Cash, a managing director at Harris Williams. “The company experienced a tremendous amount of success during its partnership with AUA Private Equity, and we look forward to its next chapter of growth with Blue Point.”

“We continue to see a high degree of interest in value-added manufacturing platforms from both strategic buyers and financial sponsors,” said Brant Wilczek, a director at Harris Williams. “Water Lilies’ unique ability to develop premium, innovative products combined with its scale and manufacturing flexibility provides the company with tremendous runway for future growth in a category experiencing significant momentum driven by consumer demand.”

Based in Bay Shore, N.Y., Water Lilies is a manufacturer and provider of premium, inspired Asian cuisine for major retailers, private label, consumer brands and foodservice operators. Founded in 1995 with a commitment to food safety, quality and innovation, the company has established itself as a preferred partner to its customers across a variety of authentic, inspired products, with a particular focus on frozen appetizers such as egg rolls, spring rolls, potstickers, and dumplings.

AUA Private Equity is a West Palm Beach, Fla.-based, operationally focused, lower-middle market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 million to $75 million in companies that generate in excess of $5 million in EBITDA.

Blue Point is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland; Charlotte, N.C.; Seattle; and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower-middle market businesses to build processes and capabilities to achieve dramatic growth. The firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources, and focused add-on acquisition efforts as well as its unique toolkit, which includes supply chain/Asian capabilities, improved digital marketing or data strategies, and talent acquisition and diversification efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc.

Subscribe today to Gourmet News, the leading news publication for the specialty food industry.