International Home Foods, Inc., a leading food products company, has announced that it has entered into a definitive agreement to acquire the Libby's brand of retail and international canned meat products, and the Trenton, MO, manufacturing facility for those products from Nestle USA, Inc. International Home Foods, through a long-term license agreement with Nestle, will continue to use the Libby's trademark.
Founded in 1868, Libby's is a leading domestic manufacturer, importer and global marketer of canned meat products, including Vienna sausages, corned beef, salmon, hash and chili, and the Spreadables and Broadcast brands.
C. Dean Metropoulos, chairman and CEO of International Home Foods, said: "This acquisition not only provides attractive growth opportunities, but it also offers significant synergies in purchasing, distribution and operating expenses. Furthermore, we anticipate that the proprietary manufacturing process used at the Trenton facility will allow IHF to continue to improve the quality of its existing brands."
IHF and Nestle have also entered into a long-term supply agreement under which IHF will continue to manufacture Nestle foodservice products at the facility in Trenton, MO.
International Home Foods, Inc. is a national manufacturer, distributor and marketer of food products. Some of its established brands include Chef Boyardee prepared foods, Bumble Bee canned seafood, and Polaner fruit spreads and spices.