United Premium Foods purchases Amboy Group out of bankruptcy
The Board of Directors of United Premium Foods, a private investment group based in N.J., announced the company has purchased the Amboy Group, a provider of quality meat and food products, out of bankruptcy. In addition to UPF’s acquisition of Amboy, Amboy Woodbridge Realty, an entity affiliated with UPF, acquired the real property and cold storage business.
“The acquisitions include a state-of-the-art meat processing and cold storage facility, as well as an extremely strong and loyal customer base,” said Jim Kwon, chairman and acting CEO, UPF. “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.”
As part of the acquisition, officials from UPF also announced that William Colbert has agreed to join UPF as an integral part of the management team. Colbert’s expertise in the meat processing industry spans over 20 years covering all aspects of product development, manufacturing, marketing and distribution. “Mr. Colbert has been a tremendous asset to Amboy Group, and we look forward to working with him as he brings his strong sales and food processing expertise to United Premium Foods,” Kwon added.
“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 U.S., as well as maintain a full-service, private label meat processing business,” Colbert noted. “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.”
United Premium Foods also released its updated Mission Statement, which reads, “United Premium Foods is committed to preparing delicious products to meet the highest standards, and to uphold the most humanely sourced products to protect our planet. We celebrate our valued employees by providing the safest and most nurturing working conditions. We always put our customers first and we take pride in giving back to all the communities we serve.”
About the Processing Facility
Located at 1 Amboy Avenue in Woodbridge, N.J., the 110,000-square-foot facility is USDA, FDA and SQF 2000 Level 2 certified, which includes a fully automated, temperature-controlled space that uses advanced, computer controlled AS/RS and EMS storage technologies. One of the largest processing/cold storage facilities in the Northeast with 1 million cu. ft. of cold storage capacity, the facility utilizes multiple ovens to cook and low-pressure steam various products, ranging from fresh sausage lines to burgers and chicken patties. The plant also is capable of high-speed deli-slicing, injecting, brining and tumbling, as well as packaging. The facility is strategically located within 15 miles of the Port of Newark and is adjacent to the major roadways throughout the state.
Source: United Premium Foods
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