Omstead Foods Sells Appetizer Division

Omstead Foods, a Canadian portfolio company of TriWest Capital Partners, has sold its appetizer division to Cavendish Farms. No financial terms were disclosed for the deal, which includes processing equipment at the unit’s Wheatley, Ontario plant and a lease on the facility.

PRESS RELEASE
Cavendish Farms, one of North America’s leading producers of frozen potato products, today announces that it has purchased the Appetizer division of Omstead Foods. The deal includes the purchase of the Omstead Appetizers name, the processing equipment at the Wheatley, Ontario plant, as well as a lease on the facility.

“Cavendish Farms is focused on investing in strategic growth opportunities that are a good fit for our existing businesses and expand our product offering to valued customers,” Robert Irving, President of Cavendish Farms said. “This acquisition greatly enhances our presence in the food service and retail sector in Canada, and adds to our presence in the US market as well.”

Cavendish Farms will integrate the Wheatley, Ontario plant into Cavendish Farms’ operations and run the plant as part of a new Appetizer Division. “During the current challenging business climate we are pleased to be able to invest and grow our food business as part of our long-term growth strategy,” said Irving.

The company expects to retain the vast majority of current Omstead employees working at the appetizer plant. “We are pleased to be able to offer continuing employment to the majority of employees,” Irving said, “and look forward to their contributions as employees within the Cavendish Farms family.”

Cavendish Farms will continue to market all coated appetizer products formerly offered by Omstead Foods, and will retain all existing relationships with customers. Processing and shipments to current customers will continue on schedule, and customers will be receiving direct communication in the coming days with respect to ongoing plans.

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Omstead Acquisition – Additional Facts
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– The deal includes only Omstead’s appetizer operations – the rights to
the Omstead Appetizer name, the purchase of the equipment and lease of
the facility in Wheatley, Ontario.
– There is no connection to Omstead’s previous sale of its Vegetable and
Seafood division, or the existing Fruit division.
– Cavendish Farms will operate the Wheatley plant as part of its new
Cavendish Appetizer Division.
– Current distribution agreements will remain in place in the near term.
– Cavendish Farms will continue to process and market all current Omstead
coated appetizers, and will review product lines as part of its regular
and ongoing business operations plan.
– The 150 current Omstead employees working in the Appetizer division
will be offered continuing employment with Cavendish Farms
– The Omstead brand will be phased out and repositioned as Cavendish
Appetizers over a 12 month period

Background Facts – Cavendish Farms
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Cavendish Farms is the fourth largest processor of frozen potato products in North America, supplying leading grocery, food service and quick service restaurants around the world.

Cavendish Farms operates two plants in Prince Edward Island, Canada and a third in Jamestown, ND, USA. Their strategic location near prime potato growing regions allows Cavendish Farms to use only the best varieties of potatoes for frozen french fry processing.

Cavendish Farms is a member of the Irving Group of Companies – a family-owned organization whose commitment to quality products and services dates back 127 years.

Founded in 1882, the Irving Group has operations in Eastern Canada (New Brunswick, Nova Scotia, Prince Edward Island, Quebec, Ontario, Newfoundland and Labrador), and the United States. We are a team of 15,000 dedicated employees, with business units in:

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