Hearthside acquires Standard Candy’s snack bar division in US

US-based Hearthside Food Solutions has completed the acquisition of Standard Functional Foods Group (SFFGI), the privately held snack bar division of Standard Candy.

Financial details of the transaction were not disclosed by both the companies.

The acquisition was first announced last month and the deal is reported to have been closed after the receipt of regulatory approvals and customary closing conditions.

Hearthside said the acquisition would further enhance its capacity and capabilities in the rapidly growing nutrition bar and energy bar business. SFFGI was engaged in new research and development activities.

The Nashville-based SFFGI will be the 24^th production facility in the Hearthside network and the 11^th with bar production capabilities, including three in Europe.

Hearthside expects that these capabilities will now complement its existing capabilities, bringing additional value to the expanding bar category.

Commenting on the acquisition, Hearthside chairman and CEO Rich Scalise said: “We are thrilled to be bringing this facility into our network and to welcome this great team of people into the Hearthside family.

“They have built a strong and capable operation with a well-deserved reputation. It is one of the things that attracted us to them.”

Headquartered in Downers Grove, Illinois, Hearthside is an independent bakery and a full-service contract manufacturer of snack food products. It also offers packaging services for some of the world’s premier brands.