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PRESS RELEASE Portland, Oregon
October 13, 1999 |
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For Immediate Release |
Norman Mackenzie and Horizon Partners team up
to acquire leading processor of peanuts
Norman Mackenzie and Horizon Partners have announced the October 13, 1999 acquisition of Universal Blanchers, the largest peanut blanching and processing company in the world. The company, with plants in Blakely, Georgia and Dublin, Texas, annually processes approximately 180 million pounds of peanuts for use as an ingredient in the confectionery industry and to the snack food industry.
Norman Mackenzie is a thirty-year veteran of the food industry both with Del Monte and Agripac. His strategy is to build Universal into the leading provider of value-added processing services for peanuts and other snack nuts through both internal growth and acquisitions.
Horizon Partners, located in Milwaukee, Wisconsin, is a private investment holding company with significant experience in the food industry. Horizon was attracted to this investment opportunity given Universal’s strong position in the industry and future growth potential.
Thomas Beaty, the former owner and CEO, will remain active in the future management of the company and retain an ownership position.