Los Angeles, CA — Anthony's Goods ("Anthony's" or the "Company"), a digitally-native brand selling better-for-you baking ingredients and other food products, has been acquired by ACH Food Companies, Inc. ("ACH"), a subsidiary of Associated British Foods plc ("ABF"), and the owner of many well-recognized brands including Mazola® cooking oil, Fleishmann's® Yeast, Karo® corn syrup, Argo® corn starch and baking powder, among others. Legacy FocalPoint Securities, LLC, now B. Riley Securities ("B. Riley"), served as the exclusive financial advisor to the Company.
Founded in 2013 by Anthony Zanontian and Alex Avakian, the Company began selling almond flour and other gluten-free ingredients to customers via Amazon. Since then, Anthony's has grown into a diversified better-for-you brand with over 100 SKUs in the baking ingredients, snacking, and supplements categories. Anthony's digital nature and innovative sourcing model allow the Company to incorporate real-time customer feedback into its new product development initiatives, driving rapid responsiveness to consumer trends and the development of online enthusiast communities.
"One of the key reasons we partnered with Anthony's Goods is their ability to rapidly meet increasing consumer demands for high-quality natural, organic options," ACH's Chief Executive Officer Imad Bazzi said. "Anthony's is one of the fastest growing, entrepreneurial businesses we've seen in our sector and will be a strong complement to our core business."
Anthony Zanontian, Co-founder of Anthony's, said, "We definitely found the right partner in ACH, as they demonstrated a relentless passion and deep attention to detail for our products and our consumers."
Alex Avakian, Co-founder of Anthony's, added, "We're confident that ACH's experience and capabilities, guided by our original vision, will help bring our great-tasting organic, natural flours and meals to the world."
About Anthony's Goods
Headquartered in Southern California, Anthony's Goods launched as a direct-to-consumer brand in the baking ingredients, snacking, and supplements categories. As a digitally-native brand, the Company has been able to mine data to be responsive to consumer preferences resulting in impressive growth. International procurement and captive manufacturing have provided the ability to offer superior value to the consumer and take market share from legacy brands. For more information about Anthony's Goods, please visit www.anthonysgoods.com.
About ACH Food Companies
ACH Food Companies, Inc. manufactures, markets and sells a premier branded portfolio of cooking oils and baking brands in the consumer and foodservice channels in the US, Canada, Puerto Rico, and Mexico. ACH's brands are #1 or #2 brands in their categories and include Mazola® cooking oil, Fleischmann's® yeast, Karo ® corn syrup, Argo® corn starch and baking powder, and Capullo® cooking oil. For more information about ACH Food Companies, please visit www.achfood.com.
About Associated British Foods
ABF is a diversified international food, ingredients, and retail group with sales of £15.6bn, 137,000 employees, and operations in 50 countries across Europe, southern Africa, the Americas, Asia, and Australia. It aims to achieve strong sustainable leadership positions in markets that offer potential for profitable growth, and deliver quality products and services that are central to people's lives. The group operates in five business segments: Sugar, Agriculture, Retail, Grocery, and Ingredients. For more information about Associated British Foods, please visit www.abf.co.uk.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com.
Please contact Robert Woolway, Managing Director, at 310-405-7080 with any questions about this transaction.