Hearthside Foods to acquire snack bar division of Standard Candy Co.
Standard Candy to keep Goo Goo Clusters.
Downers Grove, Ill.-based Hearthside Food Solutions will acquire Standard Functional Foods Group (SFFG), the privately-held snack bar division of Nashville, Tenn.-based Standard Candy Co., Hearthside announced Friday.
The acquisition will boost Hearthside’s presence in the nutritional and functional snack bar category, allowing it to help meet a growing demand for snack bars in the United States. Adding Standard Functional Foods Group will bring Hearthside’s network of production facilities to 24.
Terms of the transaction, subject to regulatory approval, were not disclosed.
“In addition to new network capacity, geographic reach and production capabilities, SFFG brings leadership in R&D with their ability to design, formulate and commercialize the increasingly complex nutrition and energy bars customers are demanding,” said Rich Scalise, Hearthside chairman and ceo.
Standard Candy will retain its century-old Goo Goo Clusters, which will continue to be made in Nashville and sold at the Goo-Goo Shop retail store in downtown Nashville.
“SFFG is a high-quality organization with an excellent quality and safety record,” said Dwayne Hughes, Hearthside senior v.p. of supply chain. “This will enable the Nashville operations to seamlessly and swiftly integrate into our world-class culture.”