United Premium Foods Purchases Amboy Group
United Premium Foods (UPF), a private investment group based in N.J., has purchased the Amboy Group, a provider of quality meat and food products, out of bankruptcy. In addition to UPF’s acquisition of Amboy, Amboy Woodbridge Realty, an entity affiliated with UPF, acquired the real property and cold storage business.
“The acquisitions include a state-of-the-art meat processing and cold storage facility, as well as an extremely strong and loyal customer base,” said Jim Kwon, chairman and acting CEO, UPF. “We are confident that with additional working capital, supplemental management and a new operating team, we can improve operating efficiencies while growing the company’s market share and reach. This investment is affirmation of our belief in the strong fundamentals of the business and our confidence in the upside potential of this company.”
William Colbert has agreed to join UPF as an integral part of the management team as part of the acquisition. Colbert’s expertise in the meat processing industry spans over 20 years covering all aspects of product development, manufacturing, marketing and distribution.
United Premium Foods will continue to produce more than 100 proprietary products, including the Tommy Moloney’s brand, the leading provider of traditional Irish meat products in the U.S., as well as maintain a full-service, private label meat processing business, a company release said.
Kemin Launches New Vision for the Future
Kemin Industries, a global ingredient manufacturer, unveiled its new global vision on Sunday to sustainably transform the quality of life every day for 80% of the world with Kemin products and services.
According to a company release, the vision lays the groundwork for strategic growth and priorities for the company with operations on six continents and a portfolio of more than 500 specialty ingredients. Previously, Kemin reached 3.8 billion lives – more than half the world’s population – every day through its products and services for humans, animals and pets. This vision was set in 1998, with a target goal of 2019. Kemin achieved the milestone two years early.
By 2042, the world’s population will reach approximately 10 billion people. For Kemin to transform 80% of the world’s population – approximately 8 billion – people must encounter Kemin products five times each day.
“By using our scientific expertise at the molecular level and continuing to innovate, we have the ability to be transformative on a global scale in a rapidly changing and growing marketplace. With a new vision to guide us, we are reenergized to reach more people with our products and services to truly transform the quality of life around the world,” said Dr. Chris Nelson, President and CEO, Kemin.
Along with this vision, Kemin released a new logo that reflects the company’s focus on future growth while respecting its history. R.W. and Mary Nelson established the business in 1961 to develop innovative agricultural products. Kemin remains privately owned-and-operated by the Nelson family and has expanded into the human and animal health and nutrition, aquaculture, pet food, nutraceutical, food technologies, crop technologies and textile industries.
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