Lakeview Farms acquires hummus manufacturer Tribe Mediterranean Foods
Lakeview Farms acquisition of Tribe Mediterranean Foods : Lakeview Farms has acquired Tribe Mediterranean Foods, a Massachusetts-based manufacturer of preservative-free prepared hummus products, for an undisclosed price.
The acquisition for the Ohio-based Lakeview Farms enables it to expand further into the fresh dip category, as per the latest food acquisition news.
Currently, Lakeview Farms, which is owned by Dallas-based private equity company Sequel Holdings, manufactures dips, refrigerated desserts, spreads and seafood salads, which are mainly sold in retail outlets across the US.
On the other hand, Tribe Mediterranean Foods, which is headquartered in Taunton, manufactures and sells hummus in various flavors that are used as spreads and dips for various food products. The company employs about 85 full-time, part-time and seasonal employees.
Its hummus product range is plant-based, kosher-certified, vegan-friendly, without any GMO ingredients, artificial preservatives, containing zero cholesterol, no hydrogenated oils and low fructose corn syrup.
Commenting on Lakeview Farms acquisition of Tribe Mediterranean Foods, Tom Davis – CEO of Lakeview Farms, said: “We are excited to welcome Tribe and its employees to our Lakeview Farms organization.
“Tribe brings an impressive product portfolio, deep talent and industry expertise, a state-of-the-art manufacturing facility and a strong plan for growth. We look forward to continuing to build our business through innovation, world-class manufacturing, and distribution.”
Lakeview Farms acquisition of Tribe Mediterranean Foods will allow the former to foray into the $800 million hummus category with established recognized national brand. Further, the enlarged portfolio will allow Lakeview Farms to offer an increased range of products.
John McGuckin – CEO of Tribe Mediterranean Foods, commenting on Lakeview Farms acquisition of Tribe Mediterranean Foods, said: “Lakeview is committed to supporting the next phase of Tribe’s growth strategy, presenting an array of synergies and capabilities to enhance our ability to compete in this fast-moving, exciting category.
“This is a great opportunity for us, and we look forward to building the Tribe brand with innovative new products and driving category growth.”