CAMERICAN INTERNATIONAL ACQUIRES KHI
Paramus, NJ and Atlanta, GA – Oct 14, 2016 - Camerican International ("Camerican") announced today that it has acquired KH International ("KHI"). KHI is a leading international food sourcing and sales company based in Atlanta with additional offices in Oregon, Chile, Hong Kong and China. KHI's strength is in sourcing frozen and processed fruit products. The combination of Camerican and KHI creates a highly complementary and diversified portfolio of imported products. The combined entity will have approximately $400 million in annual revenue. Camerican is part of the Gellert Global Group which will now have over $1.1 billion in annual sales revenues.
"KHI's frozen fruit sourcing expertise perfectly complements our core strength in frozen vegetable procurement. Combined with our sourcing of canned fruits, vegetables, seafood and specialty items, we will be able to offer our customers a full range of imported items," said Josh Gellert, Executive Vice President at Camerican.
"I am pleased to welcome KHI into the Camerican family," said Larry Abramson, President and Chief Executive Officer at Camerican. "I have known Karen Holzberg for over 20 years, and have watched with admiration as she has put together a great team and turned KHI into a force in the imported frozen fruit industry. We are very excited to be able to combine our companies."
"I look forward to working with the Camerican team, a company that shares our values and passion for providing customers with high quality products from trusted processors around the world," said Karen Holzberg, founder of KHI. "By partnering with Camerican, we can leverage its operating strengths to allow KHI’s sourced items to reach an even wider customer base. We are thrilled to be part of the Camerican team and the potential for our combined future business."
George Gellert, Chairman of Gellert Global Group said, "I am delighted to add KHI to the Group. Karen and the KHI team have an excellent reputation and we are excited to have them as part of our team."
Terms of the deal were not disclosed. KHI will continue operating out of its office in Atlanta, Georgia. Camerican International was advised by Corporate Fuel Advisors. BB&T was the exclusive advisor to KHI.
About Camerican International
In 2016, Camerican is celebrating 100 years in the global sourcing business. Camerican sources canned and frozen fruits, vegetables, seafood, meat, and grains from over 40 different countries around the world working with over 125 active suppliers. Camerican prides itself on working with a carefully selected number of processors in each of these countries that meet a rigid criteria for quality control, performance excellence, financial stability, and business integrity. Camerican's customer base includes many of the largest food companies in the United States. Camerican's website is www.camerican.com.
Since its launch in 1992, KHI has been a recognized leader in the sourcing, transportation and sale of exceptional quality fruit and food products throughout the world. KHI sources products from over 100 active suppliers and processing plants in 43 countries that meet the industry's highest food safety standards. KHI has continued to open new markets throughout the world, most recently opening an office in China where product is both sourced and sold. KHI prides itself on developing long-lasting relationships with growers, suppliers and customers. many of whom have been with KHI since its founding. KHI's website is www.khinternational.com.
About Gellert Global Group
The Gellert Global Group is a third generation family-owned business comprised of 11 companies including Atalanta Corp, Camerican International, JF Braun and Sons, Finica, Swiss Chalet and Tipico. The Gellert Global Group continues to grow organically and through acquisitions, importing over 6,000 different food items sourced from trusted supply partners in over 60 countries worldwide. The Group successfully services all facets of the U.S food industry including manufacturers, retailers, food service distributors and restaurant chains. With combined revenues of over $1 billion, the GGG is a leader in the food industry and proud to be one of the largest and most established food importers in the United States.