Fort Lauderdale, FL - Terrace Holdings, Inc. announced that it has completed the acquisition of Banner Beef & Seafood Co., a privately-owned custom value- added processor of meat, seafood and poultry headquartered in Miami, FL Terms of the acquisition were not disclosed.
Banner, which will operate as a subsidiary of Terrace, manufactures and sells food service products customized to specific needs of customers, including: Winn-Dixie, Sky Foods, Walt Disney World, Arthur Treacher's Seafood and other restaurant and large retail chains.
Terrace Holdings recently announced an arrangement with ALR Holding Corp., a large supplier of food products, to provide home meal replacements and other food service products to ALR through its Banner & Beef Seafood subsidiary.
Banner Beef and Seafood Co., Inc., in business since 1965, operates out of 50,000 square feet encompassing two facilities in Miami, with 92 employees, and has annual revenues of approximately $6.5 million.
Commenting on the acquisition, Jon Lasko, Chief Operating Officer, stated, “The acquisition of Banner Beef has already aided us in our strategy of becoming a major factor in the high margin, value-added food processing industry. Banner Beef will be a major component in our arrangement with ALR Holdings for the processing of home meal replacement and other food service products.”
Terrace Holdings, Inc., is a South Florida leader in distribution and processing of produce, dairy, frozen and other perishable commodities.
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Return to Home Page