AdvancePierre Foods announced that the company has acquired Barber Foods, a Portland, Me.-based, company which manufactures and distributes their signature stuffed chicken breasts as well as other chicken products.
Barber’s more than 300 frozen products are both raw and fully cooked, and feature a wide variety of stuffed chicken breasts, ranging from Chicken Cordon Bleu and broccoli and cheese stuffed chicken to chicken stuffed with scallops and lobster. The company also manufactures an assortment of other frozen chicken products, including chicken nuggets, chicken fingers, and chicken fillets. The Barber brand has a significant presence in retail grocery, club and foodservice.
"The high-quality products, top-notch manufacturing facility and family values of Barber Foods makes it an excellent addition to AdvancePierre," said Bill Toler, CEO of AdvancePierre Foods in a prepared statement. "We are very enthusiastic about what Barber brings to our existing and future retail, foodservice and convenience business, as well as opportunities to expand our presence through their East Coast location. We continue to aggressively pursue our strategy of acquiring high quality companies that fit within our business model."
AdvancePierre Foods is the result of a merger in October, 2010, between industry leaders Pierre Foods, Advance Food Company and Advance Brands. The combined company is a leading supplier of value-added protein and handheld convenience products to the foodservice, school, retail, club, vending and convenience store markets. AdvancePierre offers a full line of packaged sandwiches, fully cooked chicken and beef products, Philly-style steak, breaded beef, pork and poultry, and bakery products.
"As the food industry continues to consolidate and bigger players emerge, it was the right time for Barber Foods to join forces with a growing industry leader like AdvancePierre,” said David Barber, son of the founder of Barber Foods and its current president. “Our products are a terrific compliment to their existing line, and we share similar philosophies about our priorities of food safety, quality, service and productivity leading to growth. It’s a great fit."
The addition of Barber, a family-owned company which is more than 50 years old, is expected to significantly increase AdvancePierre’s retail business, especially on the East Coast and in Canada.
"By adding the Barber brand to our existing line of value-added poultry offerings sold under the Fast Fixin’ and Fast Classics trademarks, we have a whole new avenue for retail growth," said Chris Kiser, president, Brands Division for AdvancePierre Foods. "The enhanced portfolio of products strengthens our leadership position in this key category.
Barber’s Portland, Maine manufacturing facility will become part of the AdvancePierre family of operating facilities.
Oaktree Capital Management, L.P., a Los Angeles-based investment firm is the majority shareholder of AdvancePierre Foods and will continue to maintain a majority share of the company. Additional financial details of the transaction are not being disclosed.
