WOODBRIDGE, N.J. – Private investment firm United Premium Foods (UPF) bought the Amboy Group, an importer and supplier of premium meat and other food products, out of bankruptcy. Financial terms of the deal were not disclosed.
The acquisition includes a 110,000-sq.-ft. cold storage and processing plant that is USDA, FDA and SQF 2000 Level 2 certified. The facility also features a fully automated, temperature-controlled space that uses computer controlled automated storage and retrieval systems (AS/RS) and EMS storage technologies. UPF said the Amboy facility is one of the largest processing/cold storage complexes in the Northeast with 1 million cu. ft. of cold storage capacity.
On the processing side, the facility features multiple ovens to cook and low-pressure steam fresh sausage lines, burgers, chicken patties and various other food products. The plant also is capable of high-speed deli-slicing, injecting, brining and tumbling as well as packaging. The facility is located within 15 miles of the Port of Newark and is adjacent to major roadways throughout New Jersey, according to UPF.
Amboy Woodbridge Realty, an entity affiliated with UPF, acquired the real property and cold storage business. Amboy Group CEO William Colbert agreed to join UPF as part of the management team.
“With the acquisition, United Premium Foods will continue to produce more than 100 proprietary products, including the Tommy Moloney’s brand, the leading provider of traditional Irish meat products in the US, as well as maintain a full-service, private label meat processing business,” Colbert said. “We will continue our focus on delivering high quality, fresh and frozen meat products to our customers while delivering greater cost controls and making high value investments to expand our product lines and market share.”
Jim Kwon, chairman and acting CEO of UPF, said, “We are confident that with additional working capital, supplemental management and a new operating team, we can improve operating efficiencies while growing the company’s market share and reach. This investment is affirmation of our belief in the strong fundamentals of the business and our confidence in the upside potential of this company.”