TORONTO, Jan. 25, 2012 /PRNewswire/ – Associated Brands (“Associated Brands” or
the “Company”), a leading North American manufacturer and supplier of
private-label dry packaged foods, today announced that it has completed
the acquisition of Soluble Products (“Soluble”), a New Jersey-based
manufacturer of powder supplements for weight management and sports
nutrition.

Associated Brands and Soluble Products have complementary businesses,
geographies, raw materials and end-markets. This acquisition expands
the Company’s co-manufacturing business with the addition of Soluble’s
loyal customer base and focused portfolio of private-label powder
supplements for diets, bodybuilding, sports nutrition and children’s
health.

“This acquisition strengthens our position as a partner of choice for
co-manufacturing services and helps us build on our leading position in
the North American private-label dry packaged goods marketplace,” said
CEO Scott Greenwood. “We are intent on continuing to create exceptional
value for our customers as we grow our business, both organically and
by acquisition.”

Associated Brands’ principal focus is on private-label dry packaged food
products such as flavored drink mixes, soups, bouillon, side dishes and
sweeteners. The Company’s customer driven R&D process, adoption of
leading technologies and development of products that deliver great
value has enabled it to become one of the largest suppliers of
private-label dry packaged food products in North America.

Associated Brands has two manufacturing and R&D facilities serving
customers in Canada, the U.S., the Caribbean and Mexico. Following
closing of the deal, Associated Brands will begin planning and
executing the transition of all production from Soluble’s New Jersey
facilities to the state-of-the-art Associated Brands manufacturing
facility in Medina, New York.

For more information about Associated Brands see www.associatedbrands.com.

About Associated Brands

Associated Brands is a leading North American manufacturer and supplier
of private-label packaged food products that sells to almost all of the
50 largest North American food retailers. Associated Brands’ principal
focus is on manufacturing dry packaged food products such as flavored
drink mixes, iced tea, hot chocolate drinks, dessert mixes, soups,
bouillon, side dishes and sweeteners, in addition to nutritional and
weight management products. Associated Brands has grown to become one
of the largest suppliers of a diverse range of private-label dry
packaged food products in North America. Associated Brands is majority
owned by TorQuest Partners, a leading Canadian private equity firm.

About TorQuest Partners

Founded in 2002, TorQuest Partners is a Canadian-based manager of
private equity funds. With more than C$700 million of equity capital
under management TorQuest seeks to pursue investments in middle market
companies with the goal of working in close partnership with management
to build value. To learn more about TorQuest Partners, visit www.torquest.com.

About Soluble Products

Soluble Products is a New Jersey-based manufacturer of nutritional
powders, including diet, bodybuilding, sports nutrition and children’s
nutritional supplements.

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SOURCE Associated Brands