| March
1 2006
SAVEUR FOOD GROUP
ACQUIRES HERB’S SEAFOOD
SAVEUR FOOD GROUP, LLC
announced today that its wholly owned subsidiary
CUISINE INNOVATIONS, LLC, (the
appetizer division purchased from TYSON FOODS
in 2003 and formerly known as DFG Foods), has acquired the
business of HERB’S SEAFOOD Inc.
(HERB’S). CUISINE INNOVATIONS is the largest
privately held frozen hors d’oeuvres manufacturer
in the U.S. Terms of the transaction were not disclosed.
Based in Mt Holly, New Jersey,
HERB’S is a value-added frozen seafood
manufacturer founded in 1965. Housed in a multi-million
dollar facility with state of the art food processing and
freezing equipment, it is one of the leading producers of
frozen crab cake, as well as frozen seafood appetizers and
entrees. The company distributes its products under the
KAPTAIN’S KETCH brand nationwide
in all channels of distribution (including foodservice,
retail and club stores). Nash Cohen, founder and President
of HERB’S will remain involved with
the business as President of the new entity. Nash stated:
“I am delighted to join forces with SAVEUR
FOOD GROUP in its aggressive growth plan. I have
chosen to align myself with them because they bring the
resources needed to accelerate our growth and take the company
to the next level”.
HERB’S
will change its name to NEW WAVE CUISINE, LLC.
“The main objective of NEW WAVE CUISINE will
be to become the leading innovator in value-added prepared
seafood and fish products,” said Gary Bensley CEO
of CUISINE INNOVATIONS. “We also
want to expand distribution to new regions, while still
maintaining the company’s strong focus on customer
service. Gary Bensley will have senior management responsibilities
in NEW WAVE CUISINE with Nash Cohen.
SAVEUR FOOD GROUP
invests in companies in the branded premium prepared food
industry, focused on the soup, hors d’oeuvres/appetizer,
entree and dessert product categories. The company was founded
by Paul Bensabat, formerly President & CEO of Sorrento/Lactalis,
and a 28-year food industry veteran, and Alain Bankier,
formerly Head of BNP/Paribas’s US Corporate Finance
activity, with 25 years of investment banking experience,
including a strong food industry specialty. “HERB’S
is a very strong complement to CUISINE INNOVATIONS
and is perfectly in line with our development strategy,”
declared Paul Bensabat. “The synergies with CUISINE
INNOVATIONS are excellent and will allow us to
quickly expand into the fast growing premium seafood and
fish processing industry,” added Alain Bankier.
www.saveurfood.com
www.cuisineinnovations.com
www.newwavecuisine.com
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