Lakeside Foods, a leading manufacturer in the food and beverage industry, has announced its acquisition of the business assets from Smith Frozen Foods, a notable player in the frozen food market. The transaction’s financial specifics remain undisclosed, but the acquisition is set to finalize by early next week.
This strategic move will allow Lakeside Foods to enhance its operations by including Smith Frozen Foods’ production facility located in Weston, Oregon, as well as the Garrett Packing/Brittany Farms operations in Milton-Freewater, also in Oregon. By acquiring these assets, Lakeside Foods aims to expand its market share in the frozen vegetable sector while broadening its product line.
Smith Frozen Foods’ operations boast substantial frozen storage capacity and state-of-the-art production capabilities that will significantly benefit Lakeside Foods. The company collaborates with family farmers across western Oregon to cultivate a variety of produce, including peas, onions, carrots, corn, and lima beans.
Gary Crowder, president and CFO of Smith Frozen Foods, will continue during the transition, ensuring stability in the integration process. Lakeside Foods’ president and CEO, Joe Yanda, expressed enthusiasm about the acquisition, stating, “We are excited to further grow our frozen vegetable business and strengthen service to our nationwide base of retail, foodservice, and industrial customers, especially those with a large footprint on the West Coast.”
Moreover, Lakeside Foods is committed to retaining a “substantial” number of employees from Smith Frozen Foods while managing the transition of employee benefits. Gordon Smith, the owner and chairman of Smith Frozen Foods, commented on the acquisition, noting, “We are pleased to have found a great buyer. Lakeside Foods is a family-owned company like ours, with a rich heritage and stable history as a vegetable producer.”
In a simultaneous move, Lakeside Foods has decided to close its production facility in Manitowoc, Wisconsin. Yanda explained, “This decision, which we did not make lightly, best supports our long-term strategic growth plan.” While the number of affected employees has not been disclosed, those impacted have been offered opportunities at other Lakeside Foods locations.
Lakeside Foods remains dedicated to Manitowoc, the location of its corporate headquarters, where it maintains four additional production, warehouse, and office facilities. The recent acquisition aligns with Lakeside Foods’ growth strategy, building on previous notable deals, such as the 2021 acquisition of Cher-Make Sausage Company and the 2018 purchase of Good Eats Food Company, expanding its footprint in the food and drink business significantly.
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