Schreiber Seeks More Acquisitions
GREEN BAY, Wis.-Schreiber Foods Inc., plans to expand into a full-line dairy company, and it can't get enough cream cheese.
Six months after purchasing Raskas Foods, St. Louis, the Wisconsin-based sliced cheese giant has added to its plate the cream cheese and sour cream-related assets of ConAgra Foods' plant in Fredericksburg, Iowa.
The purchase includes all cream cheese and sour cream-related assets, not including the building and employees. Terms were not disclosed.
ConAgra sold its blue cheese business, including it's Nauvoo and Treasure Cave brands to Saputo Cheese. The Fredericksburg plant will be closed.
"Schreiber's growth strategy targets cream cheese and other dairy products," said Larry Ferguson, Schreiber Foods' president and CEO. "This acquisition enables Schreiber to expand our cream cheese business and further advance toward our vision of being a full-service dairy company."
Schreiber, a privately held company with sales in excess of $2 billion, produces natural, cream, and specialty cheeses that are sold primarily through customer brand distribution programs. In November, company inked the Raskas deal, which involved three plants and the nation's largest private label cream cheese business.