US Highland completes acquisition of Supreme Sweets

Franchise development company US Highland has completed the acquisition of Supreme Sweets for an undisclosed price.

Toronto-based Supreme Sweets is a commercial bakery that designs, produces and delivers custom private-label products for restaurant chains and grocery retailers.

Its product portfolio includes fresh-baked, par-baked, frozen, fried, extruded or cold-slabbed products, which are produced at the company’s 38,000ft² facility.

Supreme Sweets president Mario Parravano said: “This acquisition will allow Supreme Sweets team to implement an aggressive widespread distribution of our existing and new great food products.

“We look forward to the future growth of the company.”

The deal’s completion follows the execution of a letter of intent (LoI) between US Highland and Supreme Sweets.

The arrangement is expected to support US Highland’s aim of becoming a significant innovator across the US restaurant and food sector.

US Highland noted that a series of definitive agreements relating to the acquisition of certain Supreme Sweets assets and operations have been completed and the multi-stage close is now underway.

US Highland CEO Everett Dickson said: “We are excited to finally complete this stage of the acquisition, both parties worked long and hard to conclude the transaction timely.

“The Supreme Sweets team and operating assets offer huge potential and we look forward to working with them in the continued growth of the company.”

The acquisition is set to increase US Highland’s footprint and is said to be accretive to the company’s bottom line.

US Highland builds and represents franchise concepts throughout the US, as well as in international markets.