Reser’s to acquire Vaughan Foods

July 8, 2011

Reser’s Fine Foods Inc. and Vaughan Foods Inc. have entered into an agreement for Reser’s to acquire Vaughan Foods for $18.25 million in cash. Vaughan’s Board of Directors has unanimously approved the transaction, which is subject to approval from Vaughan’s stockholders and other closing conditions, and is expected to close in the early fall 2011.

Reser’s produces salads, side dishes, dips, Mexican foods, and specialty products. Vaughan Foods is an integrated manufacturer and distributor of value-added, refrigerated foods. Vaughan sells to both foodservice and retail sectors. Its products consist of fresh-cut vegetables, fresh-cut fruits, salad kits, prepared salads, dips, spreads, soups, sauces, and side dishes.

“We are extremely pleased with the offer from Reser’s Fine Foods. We believe the offer benefits our employees, their families, and our investors. After 50 years of business, Vaughan Foods has found within Reser’s a company that is growing at a strong pace. It is a company that will respect our legacy as a family-operated company that delivers the freshest products throughout the nation,” said Herb Grimes, Chairman of the Board and CEO of Vaughan Foods.

Press release