AdvancePierre Foods, a leading national producer and distributor of sandwiches, sandwich components and other entrées and snacks, announced it has completed the acquisition of Allied Specialty Foods Inc., a pioneering manufacturer of raw and cooked beef and chicken Philly steak products, from Steven Zoll, for $60 million in cash, subject to certain post-closing adjustments.
“We are pleased to add Allied’s synergistic product platform and unique capabilities to our existing portfolio and network,” said John Simons, President and CEO of AdvancePierre. “The Philly steak category is primed for growth, and this acquisition strengthens our position, brings us additional products and production capacity, and expands our geographic reach.”