Arbor Investments, based in Chicago, Illinois, announced today the recapitalization of Concord Foods, Inc. Founded in 1968, Concord is a premier manufacturer and supplier of food products and custom ingredients to the consumer, foodservice and industrial markets. Chief Executive Officer Peter Neville and his management team will continue to lead Concord and it will continue operate out of its Brockton, Massachusetts headquarters. Terms of the sale were withheld.
Concord’s four divisions – Concord Foods, Oringer, Red-E-Made and Tempo – serve retailers, food manufacturers and food service establishments across the country. Concord’s retail division products include lemon & lime juice, caramel & chocolate dips and smoothie & produce seasoning mixes that are primarily sold under the Concord Foods brand. The Company’s ingredients division excels in manufacturing superior beverage bases, confectionary fillings, toppings, variegates, caramels, baking mixes and a variety of breaders and batters for seafood and poultry. Concord operates out of a modern facility that is SQF Level 2, OU Kosher and QAI Organic certified and has ample capacity for growth.
Peter Neville, President and CEO of Concord Foods, commented, “My family and our employees built Concord over the past forty-seven years into a highly-successful, entrepreneurial and results-oriented family business. As we continue to execute on our proven formula for success and look to accelerate the Company’s growth in the future, I believe Arbor is the ideal partner. Their knowledge and expertise in the food and beverage industry and demonstrated willingness to invest for growth will help us take advantage of Concord’s many opportunities for growth and expansion. There is a shared vision for Concord between our companies and we are excited to take Concord to the next level in our partnership with Arbor.”
“We are delighted to partner with Peter to continue his family’s legacy and the tradition of this fine company,” said Joseph Campolo, President of Arbor Investments. “Peter and his team will continue to run the Company and the Neville family will retain a significant ownership stake going forward.”
“We are very excited about our investment in Concord Foods,” said Alan Weed, Vice President of Arbor Investments. “Concord has a great reputation in the food industry and is widely recognized for its superior product quality, best in class research and development capabilities and unparalleled customer service.”