Acquistions
Land O'Lakes loves Kozy Shack
Land O’Lakes Inc. said on Tuesday it signed an agreement to acquire Kozy Shack Enterprises a maker of chilled dairy desserts, including rice puddings and flan. Terms of the acquisition were not disclosed, and the deal is expected to close on July 31.
Land O’Lakes President and CEO Chris Policinski called Kozy Shack "a strong strategic fit with our value-added dairy foods product portfolio."
Kozy Shack's president and CEO is Robert Striano. The company is based in Hicksville, N.Y. Vincent Gruppuso founded the company more than 40 years ago, and has remained a family-owned company. Production facilities are located in Hicksville, N.Y., Turlock, Calif., and Lough Egish, Ireland. The company also owns and operates a logistics services company, Freshway Distributors.
Its brands are Kozy Shack Puddings, CowRageous, SmartGels, Kozy Shack No Sugar Added, Kozy Shack Bread Pudding and Kozy Shack Lactose Free Pudding.
Land O'Lakes 2011 revenues from its dairy foods segment were $4.3 billion. It ranks 5th on the 2011 Dairy 100, Dairy Foods' annual list of North America's largest dairy processors. Its dairy-related revenues were $3.7 billion in 2010. Kozy Shack ranked 75th, with estimated revenues of $110 million.
The next Dairy 100 report will be published in August.
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