Get Adobe Flash player

Ferrara Candy to Acquire Dori Alimentos

Ferrara Candy Company, a Ferrero related company and the largest sugar confections company in the United States, has reached an agreement to acquire Dori Alimentos, one of Brazil’s leading manufacturers and distributors of sweets and snacks. The acquisition will be made through CTH, which is the lead holding company of Ferrara. Dori is a family-controlled company backed by an affiliate of ACON Investments. Financial terms of the transaction were not disclosed.

Since its founding in 1967, Dori has built strong and recognized brands that are loved by millions of consumers across Brazil including Dori, Pettiz, Jubes, Gomets, Deliket, Disqueti, Yogurte 100, and Bolete. Dori’s strong portfolio, consistent performance and multi-channel nationwide distribution capabilities have allowed it to enjoy double-digit revenue growth over the last several years.

Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the top-selling U.S. sugar confections company and the manufacturer of 20 beloved brands such as Black Forest, Brach’s, NERDS, SweeTARTS and Trolli.

“We are thrilled to join Ferrara, who we are confident is the right partner for this next step of Dori’s incredible story,” said Pedro Lobo, chief executive officer of Dori. “Like us, Ferrara puts the consumer at the center of all they do, shares our spirit of innovation and believes in the emotional power of candies and snacks. This pairing reflects the outstanding company that the Dori team has built over 56 years and our standing as industry pioneers in Brazil. We are thrilled to preserve that valued heritage.”

“Dori is a great fit with Ferrara, with a complementary portfolio of candies, similar heritage and a values-driven internal culture,” said Marco Capurso, chief executive officer of Ferrara. “We have deep admiration for Dori’s products and extraordinary team. We are excited to enter the fast-growing Brazilian market and create tremendous opportunity ahead for both Dori and Ferrara.”

“For many years, Ferrara has been a great inspiration for building Dori’s product portfolio and, perhaps because of this, they are similar and aligned companies. I am happy to see that Dori will be instrumental to the official expansion of Ferrara into Brazil, which will certainly provide the best path for the success of the business we have built,” said Vitor Barion, chairman of the board of directors of Dori.

“We have seen Dori evolve tremendously since our initial investment in 2016 and are excited for Dori to be embarking on a new phase in its history. We believe that Dori and Ferrara will form a strong partnership that will create value for all stakeholders,” said Rodrigo Galvão, partner at ACON Investments in Brazil.

Once the transaction is closed, Dori’s over 3,100 employees will join Ferrara’s 4,600 team members to advance a shared vision and strategy and bring additional sweetness to consumers around the world.

The transaction is expected to close in the fourth quarter of 2023 and is subject to certain closing conditions.

For more news of interest to the snack industry, subscribe to Gourmet News.

St. Malachi Named Best of Show at ACS Competition

St. Malachi, an alpine-style cheese in the Farmstead category from The Farm at Doe Run of Coatesville, Penn., was named first place Best of Show among 1,454 entries at the American Cheese Society’s 2023 Judging & Competition. The results of the competition were announced at the 40 Years of Cheese Conference in Des Moines. The Farm at Doe Run received a total of 10 awards at this year’s competition – four first place, four second place, one third place and first place Best of Show.

The last time the ACS Annual Conference was held in Des Moines was in 2016 and The Farm at Doe Run won first place in the Farmstead category – aged 60 days or more, cow’s milk and then took home second place Best of Show for its St. Malachi Reserved.

The second place Best of Show went to Cumberland, a Tomme-style cheese from Sequatchie Cove Creamery of Sequatchie, Tenn. Three cheeses tied for third place Best of Show: Pleasant Ridge Reserve, a washed rind cheese from Uplands Cheese of Dodgeville, Wis., Prairie Tomme, a sheep’s milk cheese from Green Dirt Farm of Weston, Mo., and Basket Molded Chevre, a goats’ milk cheese from Pure Luck Dairy of Dripping Springs, Texas.

The five Best of Show cheeses are among the 370 total awards given at the ceremony – 113 gold medals, 127 silver medals, and 130 bronze medals among 141 organizations. ACS’ Judging & Competition, the largest event of its kind for American-made cheeses, wrapped up two days of judging at the Huntington Bank Stadium at the University of Minnesota in May. Cheeses in 131 different categories were submitted to be judged by an esteemed panel of 34 judges. Cheeses entered in the competition were received May 15-17, with judging from May 18-19. Growing from just 89 entries 38 years ago, the ACS J&C welcomed cheeses and cultured dairy products from 195 companies this year.

“J&C is a unique competition that focuses on providing expert constructive feedback with the goal of giving cheesemakers the guidance to produce better cheese and elevate cheese made in the Americas in the marketplace,” said American Cheese Society Judging & Competition Chair Rachel Perez. “The growth of this year’s competition truly reflects the vibrancy of the American cheese industry. As the industry’s highest honor, winning a medal at Judging & Competition or the coveted Best of Show is not only a sign of excellence but also increases winners’ visibility.”

The ACS competition shines the spotlight on American cheesemakers by showcasing their talents and work as leaders within the industry for their excellent cheesemaking. For the full list of the 2023 Judging & Competition winners and past winners, visit https://www.cheesesociety.org/competition-winners.

For more about the American Cheese Society’s annual convention, get Gourmet News’ Fall Cheese Guide. Subscribe now so you don’t miss it!

Lotus Foods Promotes Burke to CEO

Lotus Foods, the heirloom and organic rice company, has promoted Andrew Burke to CEO from president/COO. Co-founders Caryl Levine and Ken Lee will remain in their board seats and as visionaries focused on expanding the mission to change the way rice is grown globally. The transition, effective July 2023, is an exciting strategic step in the nearly 30-year history of Lotus Foods as the company positions itself for continued innovation, growth and impact.

Burke, who was the first c-level hire in the history of Lotus Foods when he joined in October 2019, has had direct oversight of all aspects of the company’s operations, supply chain management, finance, marketing and sales functions. Prior to Lotus Foods, Burke gained decades of leadership and relevant industry experience having been CEO of TCHO Chocolate, where he led a new corporate strategy with the goal of efficiently scaling the business. He also held prior senior roles at E&J Gallo Winery, Diamond Foods and Nature Box.

“I’ve had a wonderful four years working with Caryl and Ken and have been humbled to do this important work alongside them,” said Burke. “The entire team at Lotus Foods is united around our mission and committed to growing and innovating. I couldn’t be more honored and excited to continue to scale the impact of Lotus Foods with this group of talented people.”

Levine and Lee will continue their mission-related work and expanding the number of rice growers using System of Rice Intensification regenerative farming techniques. Lee will focus on working with existing and new supply chain partners and supporting advocacy and government relations, while Levine will lend her vision to new product development and innovation as well as nurturing relationships with important partners such as Jubilee Justice, which supports Black farming communities using sustainable methods.

“This has been a transition four years in the making,” explained Levine and Lee. “During Andrew’s tenure, he has successfully steered the company through the turbulent pandemic and post-pandemic years, increasing revenue and recruiting new creative talent. We can’t think of a better person to take on the CEO role as we shift our focus to expanding regenerative organic agriculture globally and fighting the urgent issue of climate change.”

More information about Lotus Foods’ efforts to change the way rice is grown globally can be found in the company’s latest impact report on lotusfoods.com.

Since 1995, Lotus Foods has partnered in direct and fair trade with small family farmers around the world who are growing rice more sustainably while preserving rice biodiversity. Lotus Foods’ product line includes pigmented heirloom and organic rice varieties such as Forbidden Rice, Jade Pearl Rice, Red Rice, traditional Basmati and Jasmine Rice and Tri-color Rice as well as Rice Ramen, Pad Thai Rice Noodles and Rice Ramen Noodle Soup Cups. Products are available at major retailers nationwide.

As a certified B Corporation, Lotus Foods is committed to “Changing How Rice Is Grown around the World” by focusing on rice grown using the System of Rice Intensification, which it calls More Crop Per Drop. SRI minimizes water usage, empowers women, financially rewards farmers and reduces climate impact. As a business co-founded and co-owned by an Asian American, and with a global supply network encompassing family farmers throughout Asia, Lotus Foods stands with the AAPI community and condemns racial violence.

For more news of interest to the specialty food industry, subscribe to Gourmet News.