Hochland acquires Franklin Foods

Germany-based cheese company Hochland has acquired American cream cheese firm Franklin Foods Holdings (Franklin), along with its sister companies.

Franklin will continue to operate independently as a fully owned unit of Hochland SE.

Franklin's manufacturing and sales platform in the US cream cheese market complements Hochland's international growth strategy.

Financial details of the transaction have not been revealed by either company.

Franklin CEO Jon Gutknecht said: "We are thrilled to announce the acquisition. Hochland and Franklin share a common vision around providing superior customer service, creating best-in-class products, and ensuring a company culture that strives to make a difference for our customers and brands."

Jon Gutknecht will continue to lead Franklin and maintain an interest in the new venture.

The acquisition will also provide Franklin to continue its growth.

Hochland CEO Peter Stahl said: "Franklin's strong market position, nationwide distribution and two modern production plants offer Hochland the ideal platform for the successful implementation of our own brands and products in the US."

Established in 1927, Hochland is a family-owned business based in Heimenkirch in the Allgäu. It has ten cheese production sites with more than 4,200 employees.