Sector News

Puratos acquires Pennant Ingredients

December 4, 2015
Consumer Packaged Goods

Puratos has acquired Rochester, N.Y.-based Pennant Ingredients, a provider of specialty bakery products and solutions to the North American quick-service restaurant, food service and retail in-store bakery channels. Financial terms of the transaction were not disclosed.

“This acquisition will allow us to increase our positioning in North America, especially in food service,” said Daniel Malcorps, chief executive officer of Puratos.

Pennant has more than 70 years of expertise in producing and delivering ready-to-use mixes and toppings. The company generates more than $70 million in sales and employs 100 people.

Headquartered near Brussels, Belgium, Puratos maintains a U.S. office at Cherry Hill, N.J. It has five innovation and nutrition centers.

By Eric Schroeder

Source: Baking Business

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