World’s Best Cheeses (WBC) announced that it has completed the acquisition of the CWI Specialty Foods assets from its secured lender after the company was put into foreclosure.
After seven years of ownership by financial institutions, CWI returns to being owned by a cheese entrepreneur.
The Ringwood facility (now named World’s Best Cheeses/CWI) will remain operational until late winter 2013. At that time, a sales and purchasing office will be established in New Jersey. Concurrently, warehouse operations will be consolidated in Armonk.
The California division of CWI will remain the same with only a name change – World’s Best Cheeses West, Inc.
Customers will be able to order from any of the four sales offices.
Three years ago World’s Best Cheeses completed a successful acquisition of Crystal Food Import which combined World’s Best Cheeses great logistics with Crystal’s industry leading product assortment and exclusives. This new deal will further increase World’s Best Cheeses product selection, provide greater savings in logistics, and open the full line of products to customers nationwide. World’s Best Cheeses is not only positioned to be one of the most efficient providers in the industry, but with its combined product line the company will truly live up to its name…..The World’s Best Cheeses.
About WBC:
Joe Gellert, the President and Owner of WBC commented:
“This acquisition is another great step in achieving our ambitious growth strategy. Combining both businesses will allow us to serve our customers better, and continue with exceptional products. It will give us access to new product lines and a distribution platform in California. We are very excited about all the opportunities this acquisition offers us.”
Source: World’s Best Cheeses/CWI
