CHICAGO, November 29, 2016 – Supreme Oil Company, Inc. (“Supreme Oil” or the “Company”) has been sold to Stratas Foods LLC (“Stratas Foods”), a joint venture between Associated British Foods plc and Archer Daniels Midland Company. The Court of Chancery of the State of Delaware previously appointed a custodian to conduct a sale process. Mesirow Financial acted as the exclusive financial advisor to the custodian in the sale of Supreme Oil.
Supreme Oil is a manufacturer, packager and distributor of edible oils and related products to foodservice customers, including club/cash & carry, QSR chain accounts, distributors and supermarkets, among others. The Company’s extensive product portfolio includes frying oils, blended oils, salad oils and dressings, margarines, shortenings, mayonnaises, sauces, vinegars and mustards that are sold under several recognizable trade brands, including Admiration®, Piknik® and Salad Bar®, as well as private labels. Founded in 1945, the company has three production facilities located in Englewood, New Jersey; Nashville, Tennessee; and Brundidge, Alabama.
“Mesirow Financial was pleased to have worked with the Custodian and Supreme Oil on this assignment,” stated Jeff Golman, vice chairman and head of Mesirow Financial’s Investment Banking group. "We are confident that Supreme Oil’s brands and value-added product offerings will thrive under Stratas Foods’ leadership and capital resources."
Bill Gottschalk, senior advisor of Mesirow Financial’s Investment Banking group noted, “This is yet another example of the strength of Mesirow Financial’s relationships with key strategic acquirers in the food manufacturing and distribution industry.”
About Supreme Oil Company
Supreme Oil Company LLC is a manufacturer, packager and distributor of edible oils and oil-based food products that are sold primarily to the Foodservice and Retail Industries. The Company sells a wide range of products under several recognizable trade brands and private labels. Supreme Oil Company LLC is a wholly-owned subsidiary of Stratas Foods LLC. To learn more, please visit supremeoilcompany.com.
About Stratas Foods LLC
Stratas Foods LLC is the leading supplier of fats and oils to the Foodservice, Food Ingredients and Retail Private Label markets in North America with six production facilities and distribution centers across the U.S. and Canada. Stratas Foods was formed in October 2008 as a joint venture between Associated British Foods plc and Archer Daniels Midland. To learn more, please visit stratasfoods.com.
About Archer Daniels Midland
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries. With a global value chain that includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. To learn more, please visit adm.com.
About Associated British Foods plc
Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.4 billion and 130,000 employees in 50 countries. It has significant businesses in Europe, southern Africa, The Americas, Asia and Australia. Our aim is to achieve strong, sustainable leadership positions in markets that offer potential for profitable growth. We look to achieve this through a combination of growth of existing businesses, acquisition of complementary new businesses and achievement of high levels of operating efficiency. To learn more, please visit abf.co.uk.