ACH Food Companies, Inc., a leading manufacturer of cooking oils and baking ingredients, said Tuesday it has acquired Prosecco Source, Inc. dba Anthony’s Goods, an e-marketer of organic flours and baking ingredients.
Terms of the deal were not disclosed.
Imad Bazzi, CEO of Oakbrook Terrace, Ill.-based ACH, owner of the Mazola cooking oil, Fleischmann’s yeast, Karo corn syrup, and Argo corn starch and baking powder brands, said a main reason behind its decision to acquire Anthony’s was its “ability to rapidly meet increasing consumer demands for high quality natural, organic options.”
Indeed, Glendale, Calif.-based Anthony’s potatoes for its organic potato starch are grown in the European Union; its organic corn starch and psyllium husk are imported from India; its organic cassava (tapioca) is from Thailand; and its organic flaxseed comes from Canada. However, Anthony’s organic oat fiber is a U.S. product.
All of Anthony’s products are third-party packed in California by Pennypacker Packaging, a CCOF certified-organic operation. Anthony’s sells most of its product on Amazon.com, with only 5 percent of sales coming from brick and mortar outlets.
Anthony’s co-founder Alex Avakian, who last week created a new company called Prosecco Source Newco, Inc. in Tarzana, Calif., said “ACH’s experience and capabilities, guided by our original vision, will help bring our great tasting organic, natural flours and meals to the world.”
ACH said Avakian and co-founder Anthony Zanontian will continue to lead the company.