Food and Beverage Business
Finance

Two frozen vegetable processors in the US, Twin City Foods and Smith Frozen Foods, set to merge

Two frozen vegetable processors in the US, Twin City Foods and Smith Frozen Foods, set to merge Frozen Food and Beverage Business

US frozen food companies, Twin City Foods and Smith Frozen Foods, have entered into a nonbinding agreement to merge and form a new entity named TCF Holdings, Inc. The final terms of the merger are still being finalized, with expectations for the deal to be completed by the second quarter of this year.

Both companies, with Twin City Foods based in Washington and Smith Frozen Foods in Oregon, boast long-standing histories in the food industry. Smith Frozen Foods, a family-owned business established in 1919, and Twin City Foods, founded in 1945, bring together a wealth of experience and expertise.

In a joint statement, the companies highlighted the strategic benefits of the partnership, emphasizing the alignment of resources and capabilities to better meet customer needs and market demands. The collaboration aims to enhance efficiencies and support local farmers in a more effective manner.

Dale Goyer, COO of Twin City Foods, expressed enthusiasm for the merger, describing it as a “pivotal moment” and a significant step towards strategic growth. Smith Frozen Foods CEO, Gary Crowder, anticipated synergies that would benefit customers through the combined efforts of the two companies.

Both companies specialize in producing a variety of frozen vegetables, with Smith Frozen Foods offering a range that includes corn, peas, carrots, lima beans, onions, green garbanzo beans, and mixed vegetables. Similarly, Twin City Foods’ portfolio includes frozen green peas, sweet corn, carrots, green beans, and baby lima beans, along with custom order options for additional vegetable varieties.

The companies operate multiple processing facilities and cold storage sites, collectively capable of holding millions of pounds of frozen vegetables. Despite the closure of a facility in 2017, Twin City Foods continues to expand its operations in Washington and Michigan.

Smith Frozen Foods, on the other hand, produces over 130 million pounds of frozen goods annually, representing a significant portion of the frozen corn, peas, and diced carrots market in the US. The companies have been asked to disclose details about their production sites, retail partners, and geographic locations.

Transitioning to the future, the merged entity, TCF Holdings, Inc., prepares to capitalize on the strengths of both Twin City Foods and Smith Frozen Foods, leveraging their combined expertise to drive innovation and growth in the competitive food and beverage industry. By aligning resources and capabilities, the companies aim to stay ahead of food and drink consumer trends and establish a strong presence in the market.

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