Food processing and distribution company Golden State Foods has acquired the outstanding minority interests of dairy producer KanPak U.S. and KanPak China. Golden State Foods had been a majority owner in KanPak China since 2012 and KanPak U.S. since 2013.
Wichita, Kansas-based KanPak’s produces aseptic food products, ensuring that the sterile food item is packaged in a sterile container in a way that is hygienic. The company’s offerings include soft-serve ice cream, coffee creamer, extended shelf-life products, packaged coffee, fruit beverages and desserts. In addition to its Kansas headquarters, the company has operations in New York, Connecticut, China and Mexico.
Golden State Foods, headquartered in Irvine, California is a supplier to the quick service restaurant industry; one of its largest clients is McDonald's Corp. (NYSE: MCD). The company services more than 125,000 stores on six continents. Its core business includes the processing of liquid products, meat, produce and dairy.
KanPak’s founder Dennis Cohlmia opted to sell his remaining interests in the company to pursue other business opportunities. Larry McGill, CEO of KanPak U.S. will continue on in his current role, working to grow the company and expand its product offers and services.
Recent deals in the food and beverage sector have included Clearlake Capital Group’s stake in better-for-you snacks company That’s How We Roll LLC and Apollo Global Management LLC’s (NYSE: APO) purchase of grocer The Fresh Market Inc. (Nasdaq: TFM), both in March. That same month, B&G Foods (NYSE: BGS) completed a public stock offering, noting the proceeds from the $152 million sale would provide the company with more cash on hand to pursue additional targets in the food and beverage sector.