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. FocalPoint Securities, LLC (“FocalPoint”) 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.”
Duane Stullich, FocalPoint Managing Partner, said, “Anthony’s is the latest of many transactions we’ve completed with food companies and digitally-native brands. As it expands its presence, we look forward to seeing Anthony’s Goods become a widely recognized, international brand known as a leader in its categories.”
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.
About FocalPoint Partners
FocalPoint is a leading international boutique investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm serves middle-market clients and has a dedicated Food and Beverage practice. For more information, please visit www.focalpointllc.com and follow us on LinkedIn and Twitter.