2011 and Beyond

Rich Products Corporation kicks off 2011 with the acquisitions of Celebration Foods, a leading manufacturer and distributor of frozen desserts and ice cream cakes, and VSE International, the leading wholesale bakery manufacturing company in Sydney, Australia. The Celebration Foods business brings with it a licensing agreement for Carvel-branded ice cream cakes in certain distribution channels, along with assets in manufacturing, corporate operations and R&D, plus a direct-store-distribution system.

The purchase of VSE International, with a product portfolio of more than 800 items, supports Rich’s overall growth strategy in the Asia/Pacific region, giving the company local manufacturing, a broader customer base and product range, and an increased presence in the Australian market.

Industry-leading product innovations continue as Rich’s introduces two new whipped icings, S’mores Bettercreme and Fudge Swirl Bettercreme. S’mores Bettercreme is the first icing of its kind to incorporate both a variegate (fudge swirl) and a particulate (graham cracker crumbs), resulting in an indulgent whipped icing that brings the delicious, nostalgic s’mores experience to a cake. Fudge Swirl Bettercreme, with fudge swirled into vanilla whipped icing, offers consumers the perfect blend of chocolate and vanilla.

Rich’s continues aggressive global expansion during fall 2011 with the opening of a manufacturing facility producing frozen and aseptic non-dairy creams for the bakery and foodservice industries. The state-of-the-art manufacturing platform supports Rich’s overall growth strategy to further develop its Korean and other Asian businesses.
 
Also in 2011, Rich’s is named to the list of the top 100 family-owned businesses in North America by CampdenFB magazine. Meanwhile, the company begins planning a strategic realignment to more-effectively take advantage of global market opportunities. The conversion to one global structure sets the stage for the company to leverage its enterprise-wide infrastructure and talented workforce to facilitate the flow of knowledge and best practices across its expanding global footprint. The major structural shift, made effective in 2012, converts the company’s two separate business groups – North America and International – into one seamless, global Rich’s organization consisting of five geographic operations: United States/Canada Region; Latin America Region; Asia/Pacific Region; Europe/Middle East Region; and South Africa Region.

Bob Rich Jr. continues to lead the family-owned business as its Chairman, with his wife, Melinda R. (Mindy) Rich serving as Vice Chairman and Bill Gisel serving as President and Chief Executive Officer and leader of the company’s executive team with Richard Ferranti as Executive Vice President and Chief Operating Officer, leading Rich’s five regional businesses.

After years of work and preparation, Rich’s expands into the emerging Western Asia market with the addition of Rich’s Turkey during spring 2012. In addition to presenting a huge growth opportunity within a country of 75 million people, Turkey serves as a gateway to an additional 130 million potential customers in the nearby countries of Iraq, Iran, Syria, Bulgaria and Azerbaijan.

Rich’s wraps up 2012 with the acquisition of two companies, transforming its US-Canada business. Adding Goglanian Bakeries Inc., f’real foods LLC, and a joint venture, Twin Star Bakery, with business partner The Stolbun Group, brings increased depth and capabilities to Rich’s diverse product portfolio. The acquisition of family-owned Goglanian Bakeries nearly triples Rich’s current pizza business and provides the company with an exceptional line of par-baked pizza crusts, flatbreads and pitas, to complement its existing strength in frozen pizza dough within the foodservice channel. Giving Rich’s access to a new product line and greater penetration into the high-growth convenience store segment, f’real sells authentic, high-quality milkshakes, smoothies and frozen coffee beverages. Twin Star Bakery is a new joint venture partnership between Rich’s and The Stolbun Group. The addition of Twin Star’s iced cookies to Rich’s product portfolio allows Rich’s to supply an entirely new product offering through its in-store bakery division. Also, Twin Star’s fully-finished cakes and baked cookies add to Rich’s already robust selection of cakes and desserts

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