United Premium Foods purchases bankrupt Amboy

New Jersey investment group United Premium Foods (UPF) recently purchased the Amboy Group, a provider of meat and food products, out of bankruptcy.

In addition to UPF’s acquisition of Amboy, Amboy Woodbridge Realty, an entity affiliated with UPF, acquired the real property and cold storage business.

“The acquisitions include a state-of-the-art meat processing and cold storage facility, as well as an extremely strong and loyal customer base,” said Jim Kwon, chairman and acting CEO for UPF. “We are confident that with additional working capital, supplemental management and a new operating team, we can improve operating efficiencies while growing the company’s market share and reach. This investment is affirmation of our belief in the strong fundamentals of the business and our confidence in the upside potential of this company.”

As part of the acquisition, UPF officials also said William Colbert agreed to join the company’s management team. Colbert’s expertise in the meat processing industry spans more than 20 years, covering all aspects of product development, manufacturing, marketing and distribution.

“With the acquisition, United Premium Foods will continue to produce more than 100 proprietary products, including the Tommy Moloney’s brand, the leading provider of traditional Irish meat products in the US, as well as maintain a full-service, private label meat processing business,” Colbert said. “We will continue our focus on delivering high-quality, fresh and frozen meat products to our customers while delivering greater cost controls and making high value investments to expand our product lines and market share.”