New Carbon acquires Munsey ProductsPublished 10:24am Monday, November 16, 2009
By JESSICA SIEFF
Niles Daily Star
New Carbon Company, Inc. officially announced and recognized its recent acquisition of a one of its competitors, Munsey Products Inc., of Little Rock, Ark.
The announcement was confirmed by president and CEO Rick McKeel, who said the acquisition was finalized in mid-September.
According to the announcement, Munsey Products Inc. was traded under the TasteeFare brand name and manufactured commercial waffle bakers, supplying a variety of waffle mixes apparently used in the restaurant and lodging industry.
The news is just the latest in the extensive history of the company that started small in 1937 in Buchanan and has since become a nationally-recognized powerhouse now based in South Bend.
“The story for us has been the expansion and diversification,” McKeel told Leader Publications in a previous interview on the history of New Carbon. “For us to be as successful as we have been, it took a focus on what we did well, which is our New Carbon Company, the wholesale distributors that sell to the restaurants.”
The company states its “highly recognized brand of commercial waffle bakers and Golden Malted pancake and waffle flour mixes is the market share leader within the restaurant and lodging industry. A majority of the national brand restaurants, hotels, theme parks, and universities around the world utilize Carbon’s commercial waffle bakers and serve Golden Malted pancakes and waffles to their consumers.”
McKeel said the acquisition of Munsey would “provide additional opportunities to expand existing markets, develop new business, and increase local job opportunities within New Carbon Company Inc.”
This is reportedly the third acquisition of a competitor by the company in the last three years. Despite current difficult economic times, this is the second business acquisition of a competitor by New Carbon Co. Inc. in the last three years.