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California: News and Insight on Business in the Golden
State | THE STATE / FOOD & AGRICULTURE

Specialty Foods to Buy 2 Baking Companies

October 15, 1998|Bloomberg News

Specialty Foods Corp. agreed to buy Archway Cookies Inc. and San Diego Bread Co. for more than $100 million as the closely held food maker concentrates on its baking business. The acquisitions will make Specialty Foods the third-largest U.S. cookie maker and boost California sales of its Boudin brand sourdough bread, the company said. It did not disclose the price for each company. Deerfield, Ill.-based Specialty Foods produces Mother's cookies and other products distributed in the Midwest and West. Founded in 1993 by a group of Texas investors, it sold most of its non-baking units, including cheese maker Stella Foods Inc., in the last two years to pay off debt. Battle Creek, Mich.-based Archway produces more than 1 billion cookies annually at two bakeries in Ashland, Ohio, and Boone, Iowa, and at four licensed bakeries in the U.S. and Canada. San Diego Bread is based in San Diego.

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