Kent Group Inc Completes Another Food Industry Merger and Acquisition Transaction
Released on = July 21, 2006, 8:07 am
Press Release Author = Kent Group Inc. - Chelsea Harmon
Industry = Food & Beverage
Press Release Summary = The Morrison Milling Company of Denton, TX has been acquired by C.H. Guenther & Son, Inc.
Press Release Body = Kent Group Inc. announces the successful acquisition of The Morrison Milling Company (Denton, TX) by C.H. Guenther & Son Inc., America's oldest family-owned flour mill based in San Antonio, TX. Morrison Milling is a family and employee-owned flour milling and frozen food company famous for its Corn Kits, frozen sausage and biscuits and more than 300 additional flour- and corn-based dry mix and frozen products.
Both milling companies are among the oldest in the nation. A group of farmers founded the Alliance Milling Company in 1886 as a cooperative flour mill in Denton, Texas. The Morrison family purchased Alliance Milling in 1936 and renamed it The Morrison Milling Company. C.H. Guenther, founded in 1851 by German immigrant Carl Hilmar Guenther, runs manufacturing facilities in San Antonio and Duncanville, Texas, Knoxville, Tennessee and Prosperity, South Carolina. Guenther additionally co-owns three manufacturing facilities in Europe, including two in the United Kingdom and one in Belgium.
C.H. Guenther officials plan to carry on the Morrison name and brand identity wherever appropriate. Morrison CEO, Harry Crumpacker, is confident combining with C.H. Guenther will only strengthen the company and expand its ability to grow the Morrison brand. Dale Tremblay, CEO of Guenther, stated, "This is a great fit for us. Morrison Milling has a long and wonderful history of producing quality products. Like C.H. Guenther & Son, Morrison not only produces its own branded products, but also makes customized and private-label products for food retailers and foodservice operators alike."
Kent Group Inc. (www.kentgroupinc.com) manages agribusiness and food industry mergers, acquisitions and divestitures throughout the United States, Canada and Europe. The scope of over 175 past assignments has ranged from the divestiture of a product line to managing the sale of large corporation subsidiaries with numerous deals in between, including the sale of many privately owned businesses. These transaction values ranged from a few million dollars to over $100 million. Kent Group Inc. managed and negotiated the transaction and acted as financial advisor to The Morrison Milling Company.
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