DELPHOS — A Delphos-based manufacturer hopes to take a bite of the hummus market with its purchase of a Massachusetts company. It’s also snacking on the salsa and chips and seafood salad markets.
Lakeview Farms, which employs 500 people in Delphos, acquired Tribe Mediterranean Foods on Wednesday, according to a press release. Then on Thursday, Lakeview Farms announced it purchased Simply Fresh Foods from Ancor Capital Partners, according to a separate press release.
Terms of both deals were not released.
Tribe Mediterranean Foods produces preservative-free prepared hummus products. It has 20 flavors of hummus available, ranging from traditional to spicy to zesty to a recently introduced sweet variety. The move helps Lakeview Farms get into the $800 million hummus category with an already established national brand.
“We are excited to welcome Tribe and its employees to our Lakeview Farms organization,” Tom Davis, chief executive officer of Lakeview Farms, said in a press release. “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.”
Tribe employs 85 full-time, part-time and seasonal employees. It started more than 20 years ago.
Simply Fresh Foods, based in Buena Vista and owned by Dallas-based private equity firm Ancor Capital Partners, makes all-natural foods. Its Rojo’s brand includes salsas and chips. Its San Francisco brand includes a line of seafood salads on the market since 1987.
Lakeview Farms, formed in 1988, already produced a variety of refrigerated dips, desserts, seafood salads and spreads. Its brands include Luisa’s, Salads of the Sea, Sea Gold, Senor Rico and others. It is owned by Sequel Holdings, a private equity company based in Dallas.
“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,” John McGuckin, Tribe’s chief executive officer, said in a press release. “This is a great opportunity for us, and we look forward to building the Tribe brand with innovative new products and driving category growth.”
Ray Kingsbury, a partner at Ancor Capital Partners, felt similarly confident about Simply Fresh Foods’ future under Lakeview Farms.
“I am confident the company is well-positioned for continued, sustainable growth,” he said. “We believe Lakeview Farms will be an excellent partner for Simply Fresh Foods going forward.”