New Horizons’ acquisition takes it beyond bakery
NORWALK, OHIO — New Horizons Baking Co. expanded its business beyond bakery with the acquisition of Coalescence LLC, Columbus, Ohio. Coalescence is a producer of custom seasoning blends, flavors and nutritional solutions for food and beverage companies and non-profit organizations that fight against hunger. Both companies supply to similar customers — various foodservice operations and sandwich assembly operations — making the acquisition a natural extension of New Horizons’ business.
“This acquisition delivers a more diverse product portfolio to serve our customers and overall top- and bottom-line growth for our company,” said Mike Porter, president and chief operating officer of New Horizons. “It provides cost synergies throughout all our business units. It will provide vertical integration within our manufacturing facilities and supply chain.”
As a part of the acquisition, the new company will be named Coalescence NHB LLC and will operate independently. Formerly owned by spouses Angela Cauley and Ian Blunt, Sr., both will remain on as the company integrates with New Horizons.
“We couldn’t be more thrilled to become a part of the New Horizons family,” Ms. Cauley said. “New Horizons and Coalescence share the same mission, values and culture, and we look forward to leveraging our synergies to continue to add value and bring innovative solutions to our customers.”
Coalescence shares a similar vision, mission and core values as New Horizons, prioritizing innovation and adding value to both its employees and customers, Mr. Porter said. The fact that Coalescence and New Horizons are both woman-led and minority-owned businesses was also noteworthy to Trina Brown Bediako, chief executive officer of New Horizons.
“We are grateful and humbled to be a part of this unicorn moment: a female-led minority business enterprise acquiring another female-led minority business enterprise,” she said. “Today, more than ever, it speaks volumes and supports the legacies of our families.”
The Brown family has owned New Horizons for 25 years and grown the company to include three facilities in Norwalk and Toledo, Ohio, and Fremont, Ind. Ms. Cauley and Dr. Blunt founded Coalescence in 2005 with the mission to develop functional blends and flavors that deliver taste while also aiding in nutritional health and addressing food insecurity challenges.
“My entire team and I have the utmost respect for Angela and Ian,” Ms. Bediako said. “They have built a successful and thriving business with a quality centered foundation and diversity of thought mission, all for the greater good of their employees and customers. The staff of experienced professionals of Coalescence NHB LLC bring incredible expertise in innovation, product development, quality and sales. We are confident that our strategic partnership will complement each business exponentially.”
Terms of the transaction were not disclosed.