Sharechat Logo

Golden State acquires Wellington-based Groenz, adding sauces, condiments

Tuesday 5th February 2013

Text too small?

Golden State Foods, the biggest US supplier of ingredients to fast-food giant McDonald's, has bought Wellington-based Groenz Group, adding sauces and condiments to a range that includes the original Big Mac sauce.

No price or financials were disclosed in the statement from Irvine, California-based Golden State, which services more than 25,000 fast-food outlets around the world for some 50 companies. A PR consultant handling the release said the private companies didn't want to release details of the transaction. Golden State was ranked the 73rd biggest private company in America by Forbes, with annual revenue of US$4.8 billion last year.

Groenz's brands include French Maid and Kiwi Style, and it has a business called In-House Systems which supplies ingredients in bulk to food manufacturers.

Its shareholders include members of the founder Maarten Groen's family. Managing director Fred Groen is a former world barefoot waterskiing world champion according to the company website, which describes the firm as "a multi-million dollar sauce and condiment manufacturing company."

Golden State's website says the company "pioneered the one-stop-shopping concept that forms the basis for McDonald's highly touted distribution system." It is a "value-driven company" that believes "in God and the dignity of all people."

It also runs the GSF Foundation, a non-profit organisation to help children and families in need.

 

BusinessDesk.co.nz

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar mixed, buffeted by Fed talk and downunder data
Super Fund can expect lower returns over next decade - review
ANALYSIS: Should penalties for continuous disclosure breaches be relaxed?
Fletcher seeks urgent talks on Ihumatao stalemate
NZ economy grows 0.5% in June quarter, beating expectations
Restaurant Brands lifts 2Q sales; appetite for KFC offsets ditched Starbucks
Auckland jet fuel arrangements a potential barrier to new entrants
NZ dollar weaker after Fed split on outlook for further US cuts
Leading judge says court administration model 'outdated'
MARKET CLOSE: NZ shares fall; Goodman placement sees property stocks sold

IRG See IRG research reports