SAVr Acquired Select Kent Washington Assets from Passport Foods (SVC), LLC to expand Product Offerings and Modernize Manufacturing Capabilities
SEATTLE, WA / April 23, 2020/ Passport Foods (SVC), LLC (“Passport Foods”), a portfolio company of Skyview Capital, LLC (www.skyviewcapital.com), has sold select assets of its Kent, Washington facility to SAVr LLC. The acquisition diversifies SAVr LLC’s product line and provides additional manufacturing capacity. The House of Bee and Golden Pheasant brands will be added to the SAVr LLC portfolio. Terms of the transaction were not disclosed.
The Passport Kent facility previously operated under the Golden Pheasant brand and now returns to management by the Cheng family.
For nearly three decades, Passport Foods has delivered to the table traditional and contemporary recipes perfectly crafted for all customer preferences with uncompromising, superior taste. Rooted in generations of Asian and ethnic culinary tradition, Passport Foods has earned an industry-wide reputation for bringing fresh and exciting flavors to the table with passion, authenticity and a contemporary twist. Passport Foods takes inspiration from cultures around the globe to create a wide and varied selection of culinary delights that range from a broad array of authentic traditional offerings to a bold line-up of innovative, creative fusions.
“We are extremely excited by this acquisition as it allows us to launch modernization of our manufacturing processes while extending the product expertise and long history of the Tsue Chong Company”, said Isaac Cheng, VP of Operations at SAVr LLC. “These enhanced manufacturing capabilities and capacity provide great opportunities for us to extend our national accounts and widen our distribution network.”
“We believe that the Kent facility is in good hands for future growth with Camillo and Isaac Cheng of SAVr. They have the local expertise and history with this Seattle-area operation. Passport will now be able to focus attention on our core business in our Ontario, California operations, which produces and distributes ethnic foods for the foodservice and retail/club channels. Both teams worked well together to complete this transaction,” said Mark Thomson, CEO of Passport Foods.
“When we first evaluated our Passport acquisition, we had planned on divesting the Kent, Washington facility to allow the business to focus on the core operations in Ontario. Passport can now focus on profitable organic growth and strategic acquisitions”, said Alex Soltani, Chairman and CEO of Skyview Capital.
About Skyview Capital, LLC:
Skyview Capital, LLC is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services, niche manufacturing, and food & beverage. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term, sustainable value of the businesses it acquires. The Los Angeles Business Journal consistently recognizes Skyview as one of the leading private equity firms in Los Angeles. To date, Skyview has successfully completed nearly 30 transactions within its target market verticals. For further information visit www.skyviewcapital.com.
About Passport Foods (SVC), LLC:
Passport Foods (SVC), LLC is a leading producer of globally-inspired foods. The business distributes its variety of entrees and appetizers throughout the United States in the Retail, Food Service, Grocery, and Club channels. Passport Foods (SVC), LLC is based in Ontario, CA and is a portfolio company of Skyview Capital, LLC. More information can be found at www.passportfood.com.
About SAVr LLC:
SAVr LLC is an Asian food manufacturer in the Pacific Northwest. Headquartered in Seattle, Washington, SAVr LLC manufactures Asian style wheat noodles, rice noodles, dumpling wrappers and fortune cookies under its Rose Brand and SAVr Foods brands. With its family-owned manufacturing beginning in 1917, it is one of the longest-standing food manufacturers in the Pacific Northwest.