Trudeau Foods buys Prinsen Distributing
By St. Paul Pioneer Press
Two specialty-food distributors based in the Twin Cities say they’re joining forces.
Burnsville-based Trudeau Foods announced Thursday it has purchased smaller Prinsen Distributing, an Eden Prairie-based specialty dry-grocery distributor. Terms were not announced, but the distributors together have about 115 employees.
Prinsen has focused on high-end dry items like premium chocolates, gourmet spices and kosher foods, which it distributes to gourmet grocers, gift shops and the hospitality trade. Trudeau Foods has heretofore focused its business on quality perishable items such as meats, frozen foods, dairy products and deli items.
“We’re a specialty-food distributor, frozen and fresh-cooled products … so most of our warehouse is cooler,” said Jason Dugan, chief financial officer of Trudeau Foods. “What the Prinsen acquisition done for us … it allows us to better serve the entire store for our customers.”
Most of Prinsen’s 25 employee will continue as part of Trudeau, although “we had to consolidate some drivers,” Dugan said. Prinsen’s warehouse will remain in Eden Prairie and become the center for the company’s dry-foods lines. The Burnsville cooler facilities also remain in operation, Dugan said.
Trudeau Foods is owned by Chicago-based Arbor investments, a food and-beverage-focused private equity firm. In today’s sour economy, the once-sizzling private equity deal market has turned arctic. But Dugan said Trudeau intends to move ahead with its goal to grow aggressively in the next five years. “We’re a growing business,” he said. “We have economic pressures like every other company out there, but we’re not holding back. We’re seeing it as a chance to expand our customer-service levels out there and really grow.”
Trudeau Foods also owns a food-manufacturing line, Shakopee-based Stone Gate Foods, with 60 employees.