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MERGERS & ACQUISITIONS
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Golden State Foods expands international ties with acquisition

The partnership with KanPak China will allow GSF to better meet the needs of international customers

by Caitlin AdamsPublished: November 08, 2012 03:05 PM

In a move that will allow it greater international scope, Irvine-based processed food distributor Golden State Foods has acquired KanPak China, a manufacturer and supplier to the quick-service restaurant industry, in a joint venture. The partnership creates a 51 percent majority ownership stake in the Chinese company for Golden State Foods.

Mark Wetterau, chairman and CEO of Golden State Foods, described the partnership as complementary, saying that it will allow both companies to expand their product offerings.

"We are thrilled about our partnership with KanPak, a very professional company with a solid team in China. This acquisition is part of our company's strategy to meet the needs of fast-growing international markets,” Wetterau said. “We are especially looking forward to building our local manufacturing capabilities in China to serve our customers in that region. KanPak has an excellent facility there, providing opportunities to produce a full-range of products."

Golden State Foods’ products include processed meat, produce and baked goods, and bulk liquid products, for the quick service restaurant industry. The company is one of the primary suppliers for the McDonald’s chain of fast food restaurants, with other clients in the quick-service industry including KFC, Taco Bell, Pizza Hut, and others.

KanPak China is a manufacturer of a range of dairy-based products for the quick-service restaurant and retail industries, including ice cream, coffees, creamers, frozen desserts and beverages. The partnership will allow Golden State Foods to expand the KanPak China‘s operating facility’s production in Xiantao City, Hubei Province, to include portion-control sauce items –– such as single-serving ketchup, dressings and syrups.

KanPak China CEO Dennis Cohlmia said the company is excited to partner with Golden State Foods.

"KanPak is excited to have partnered with Golden State Foods, a leader in diversified food supply and distribution to the QSR industry. Through our partnership with GSF, we have many reasons to believe in a bright and productive future, including our joint commitments to customer satisfaction through [products] that leverage our core competencies,” Cohlmia said. “This includes GSF's leadership and expertise in liquid products portion pack and high volume runs and KanPak's versatile aseptic capabilities.”


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