Lancaster Foods Acquired by The Coastal Companies
LAUREL, MD - The Coastal Companies recently announced the acquisition of a leading retail produce distributor and processor. Lancaster Foods, once under Guest Services, will now join Coastal Sunbelt Produce, East Coast Fresh, and Hearn Kirkwood as subsidiaries of The Coastal Companies.
“We are delighted to welcome Lancaster Foods to our family of companies,” said John Corso, CEO of The Coastal Companies. “Lancaster Foods shares our values of quality and service. This transaction pairs Lancaster’s leading position in retail with our leading position in foodservice to significantly expand The Coastal Companies’ market reach, sourcing, and value-added capabilities.”
According to the press release, the addition of Lancaster Foods greatly enhances The Coastal Companies’ retail presence and expands Lancaster’s product offerings to include grab-and-go, ready-to-eat, and prepared foods. With this acquisition, Coastal will also expand its presence on the East Coast in the produce distribution, processing, and prepared foods sector. The Coastal Companies will continue to operate Lancaster Foods under its current brand name and from its existing facility in Jessup, Maryland.
“Lancaster and Coastal have emerged as leaders in their markets. We have shared values around people and relationships. We are excited to be joining The Coastal Companies,” said John Gates, President of Lancaster Foods. “Together, our network of vendors and our portfolio of products and services will enable us to provide even greater value to our customers.”
Gates and his team will remain with the company and continue to lead the organization. In conjunction with this transaction, Gates joins The Coastal Companies Board of Directors and becomes a member of The Coastal Companies Executive Leadership Team.
The acquisition will bring The Coastal Companies to operate on four facilities with more than 650,000 square feet of cold storage and processing stretching from Maine to Florida. Over the coming year, overlapping retail and wholesale customer relationships will be harmonized while foodservice relationships will remain unchanged.
“The company has grown because we take care of our customers, we take care of our people, and we invest in our business,” stated Corso. “Lancaster Foods is a great strategic and cultural fit with The Coastal Companies. We look forward to partnering with John Gates and his team.”
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