Lakewood, N.J., April 10 - SAVEUR FOOD GROUP, LLC announced today that its wholly owned subsidiary CUISINE INNOVATIONS, LLC, (the appetizer division purchased from TYSON FOODS in 2003 and formerly known as DFG FOODS), has acquired the business of HERB'S SEAFOOD INC. (HERB'S). CUISINE INNOVATIONS is the largest privately held frozen hors d'oeuvres manufacturer in the U.S. Terms of the transaction were not disclosed.
Based in Mt. Holly, New Jersey, HERB'S is a value-added frozen seafood manufacturer founded in 1965. Housed in a multi-million dollar facility with state-of-the-art food processing and freezing equipment, it is one of the leading producers of frozen crab cake, as well as frozen seafood appetizers and entrees. The company distributes its products under the KAPTAIN'S KETCH brand nationwide in all channels of distribution (including foodservice, retail and club stores). Nash Cohen, founder and President of HERB'S will remain involved with the business as President of the new entity. Nash stated: "I am delighted to join forces with SAVEUR FOOD GROUP in its aggressive growth plan. I have chosen to align myself with them because they bring the resources needed to accelerate our growth and take the company to the next level."
HERB'S will change its name to NEW WAVE CUISINE, LLC. "The main objective of NEW WAVE CUISINE will be to become the leading innovator in value-added prepared seafood and fish products," said Gary Bensley, CEO of CUISINE INNOVATIONS. "We also want to expand distribution to new regions, while still maintaining the company's strong focus on customer service," declared Neil Cohen, President of CUISINE INNOVATIONS. Both Neil Cohen and Gary Bensley will have senior management responsibilities in NEW WAVE CUISINE with Nash Cohen.
SAVEUR FOOD GROUP invests in companies in the branded premium prepared food industry, focused on the soup, hors d'oeuvres/appetizer, entree and dessert product categories. The company was founded by Paul Bensabat, formerly President & CEO of Sorrento/Lactalis, and a 28-year food industry veteran, and Alain Bankier, formerly Head of BNP/Paribas's US Corporate Finance activity, with 25 years of investment banking experience, including a strong food industry specialty. "HERB'S is a very strong complement to CUISINE INNOVATIONS and is perfectly in line with our development strategy," declared Paul Bensabat. "The synergies with CUISINE INNOVATIONS are excellent and will allow us to quickly expand into the fast growing premium seafood and fish processing industry," added Alain Bankier.