Golden State Foods Gets China OperationWednesday, November 7, 2012
Irvine-based food processor and distributor Golden State Foods Corp. has acquired KanPak China, a manufacturing company that serves the quick-service restaurant industry in Asia.
Golden State Foods bought a 51% stake in the company from Wichita, Kan.-based KanPak LLC. Terms of the deal were undisclosed.
KanPak makes dairy-based products, including ice cream, smoothies and frozen desserts. The company has about $60 million in annual revenue and about 70 employees. It does not break out numbers for its business in Asia.
Golden State Foods processes meats and liquid products, such as sauces, dressing and syrup. It also provides distribution services to the fast-food industry.
The company is the third-largest privately held company in Orange County, with $5.4 billion in revenue last year. It has 3,864 employees total, with 51 here.
“This acquisition is part of our company’s strategy to meet the needs of fast-growing international markets,” said Mark Wetterau, Golden State Foods’ chief executive. “We are especially looking forward to building our local manufacturing capabilities in China to serve our customers in that region.”