Press Releases | Newsroom | Rich Products Corporation https://www.richs.com/category/press-releases/ Thu, 06 Jul 2023 22:16:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.5 Mindy Rich named Chairman of Rich Holdings Inc. https://www.richs.com/mindy-rich-named-chairman-of-rich-holdings-inc/ Mon, 08 Aug 2022 16:04:51 +0000 https://www.richs.com/?p=5362 After 37 years, including a series of critical leadership roles with global, family-owned company, Ms. Rich takes top post BUFFALO, N.Y. (August 8, 2022) Melinda R. Rich, who served as vice chairman, executive vice president and a member of the board of directors for Rich Products Corp. in her 37-year career, today became chairman of […]

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After 37 years, including a series of critical leadership roles with global, family-owned company, Ms. Rich takes top post

BUFFALO, N.Y. (August 8, 2022) Melinda R. Rich, who served as vice chairman, executive vice president and a member of the board of directors for Rich Products Corp. in her 37-year career, today became chairman of the family-owned corporate parent, Rich Holdings Inc.

In this long-planned transition, she succeeds Robert E. Rich Jr., 81, who served as chairman for 16 years, is now senior chairman, and will support his wife as she leads the company.

Ms. Rich, 64, known as Mindy, joined Rich’s in 1985 and worked in various roles as part of the leadership team, including executive vice president of innovation. In that position, she unified initiatives across the enterprise, established best practices and processes, and identified new business opportunities and technologies. She also expanded the breadth and accelerated the pace of product development in support of Rich’s long-term growth strategies. She also chairs the board’s Finance and Audit and Compensation and Organization committees.

“This decision was made after years of very deliberate and careful planning,” Ms. Rich said in a message to Rich’s 13,000+ associates worldwide. “Intentional succession planning is a crucial part of fostering a robust leadership pipeline – especially in a family-led company like ours. We expect and demand that our senior leaders actively participate in this kind of forethought, and we hold ourselves accountable to the same expectations as stewards of Rich Products and our family of businesses.”

Over the course of her career, Ms. Rich focused on developing and nurturing Rich’s award-winning organizational culture and work/life programs. She also served as executive vice chair of Rich Entertainment Group, responsible for overseeing the organization’s baseball, theater, restaurant and travel interests. She is a member of the corporate Board of Directors and the Compensation and Human Capital Committeefor M&T Bank Corp. She also is a member of the Cleveland Clinic Board of Directors; the Board of Trustees for Cleveland Rock & Roll, Inc./Rock & Roll Hall of Fame + Museum; and an advisor on BDT Capital Partners LLC’s Advisory Board.

“Serving this company as chairman is one of the great honors of my life,” she said. “I’ve had the privilege of being an integral part of Rich’s for nearly four decades and deeply admire and respect what we, as the Rich family, have built over the past 77 years. I have the utmost pride in what our family name stands for and an even deeper desire to preserve and protect what my predecessors worked so hard to establish.”

Mr. Rich said the planned transition is in keeping with the company’s strategic goals.

“We are steadfast in our commitment to remaining a private, family-owned company,” Mr. Rich said. “This was a deep desire of our founder, my father, Robert E. Rich Sr. And, over the years, his aspiration morphed into an unwavering, family-wide directive that is as fundamental to our identity as a company as the delicious products we make.”

“Maintaining this core value requires diligent design and preparation at all levels of the organization, but particularly as it pertains to succession planning for our most senior leaders. In her role as chairman, Mindy will assume stewardship of our multi-billion dollar, global enterprise, leading us into the future,” Mr. Rich added. “I have every confidence in Mindy’s ability to leverage her vast experience and wisdom as chairman.”

Ms. Rich graduated from University of Colorado in 1979 with a B.A. in Psychology and Business. She received an Honorary Doctorate of Humane Letters Degree from The Culinary Institute of America in 2001 and an Honorary Doctorate of Laws from D’Youville College in 2007. Prior to joining Rich’s, she also worked at Westwood Pharmaceuticals and Levy, King and White Companies, Inc.

She received numerous awards and honors for her work, including the Women’s Foodservice Forum Titan Award (2019), the Distinguished Fellow Award (2015) from Cleveland Clinic’s 1921 Society and the Women’s Foodservice Forum Trailblazer Award (2010). She and Mr. Rich are also active in fundraising to support cystic fibrosis research.

“Mindy’s steadfast support and commitment to remaining a private, family-owned business that’s successful over the long-term cannot be understated,” said CEO Richard Ferranti. “Her leadership as chairman is key as we continue to transform our company to create greater value for our associates, customers and communities for generations to come.”

MEET RICH’S.
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

ABOUT MINDY RICH

Ms. Rich joined the company Oct. 7, 1985 and became a Director of Rich Holdings Inc. on July 28, 1998, at the annual board meeting. At the same meeting, she became chairman of the Audit Committee (now known as Finance and Audit Committee). In 2014, at the annual board of directors meeting, this committee was separated into two committees –Finance and Audit Committee and Compensation and Organization Committee and Ms. Rich was approved as chairman of both committees. Ms. Rich became an officer of the corporation on April 12, 1994, and vice chairman in July 2006. Ms. Rich became president of Rich Entertainment Group (REG) in 1993 before being named REG’s Executive Vice Chair in 2021.

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Rich Family Foundation Funds the College Dreams of Thousands of High-School Scholars with $1 Million Grant to Say Yes Buffalo https://www.richs.com/rich-family-foundation-funds-the-college-dreams-of-thousands-of-high-school-scholars-with-1-million-grant-to-say-yes-buffalo/ Thu, 16 Dec 2021 16:40:00 +0000 https://www.richs.com/?p=4737 BUFFALO, N.Y. (Dec. 16, 2021) – Rich Family Foundation, the philanthropic arm of Rich Products, has announced a $1 million grant to the Say Yes Buffalo Endowment Campaign. The gift, which will be distributed over the next five years, directly removes financial barriers to thousands of Buffalo public and charter high-school graduates who seek to […]

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BUFFALO, N.Y. (Dec. 16, 2021) – Rich Family Foundation, the philanthropic arm of Rich Products, has announced a $1 million grant to the Say Yes Buffalo Endowment Campaign. The gift, which will be distributed over the next five years, directly removes financial barriers to thousands of Buffalo public and charter high-school graduates who seek to earn a certificate, associate’s or bachelor’s degree. And it doubles the foundation’s previous donation to Say Yes—a five-year grant of $500k awarded in 2016.

Announced in 2018, the Say Yes Buffalo Endowment Campaign aims to raise $100 million by 2023 to secure the availability of Say Yes post-secondary scholarships and grants in perpetuity. Thanks to an anonymous challenge grant matching $1 for every $3 contributed to the campaign, Rich’s $1 million pledge will bring the campaign $1.33 million closer to its ultimate goal.

“Building the next generation of leaders in Buffalo is among Rich Products’ core values, and I can think of no better way to live our purpose than through our ongoing partnership with Say Yes Buffalo,” said Bill Gisel, executive vice chair of Rich Holdings. “Say Yes has created a path to higher education for so many young people in the Buffalo community, and we are proud to support its critical work not only through funding but through hands-on mentoring.” Say Yes Scholar interns have gained valuable on-the-job experience in various areas at Rich’s Buffalo headquarters, from human resources to data analytics. In addition, a number of Rich’s associates have volunteered as Say Yes mentors, working one-on-one with students in the program.

Since Say Yes Buffalo’s launch in 2012, the non-profit has supported more than 8,000 Buffalo Public Schools students, including more than 2,000 collegebound Say Yes scholars. The high school graduation rate has increased 27 percentage points, to 76% and 23% more students have gone on to college.

“We are honored to have such a wonderful partner in the Rich Family Foundation,” said David Rust, Say Yes Buffalo’s CEO. “They wholeheartedly support the mission of our organization and have done so for many years. Not only do they support with their financial contributions, they double down by investing an even more valuable resource of time in commiting to the nurturing and development of our students through our mentoring and internship programs. And it doesn’t stop there, Bill Gisel has made a multi-year commitment to serve on our Board of Directors and is an integral part of our organizational strategy and direction. Our sincerest thanks and appreciation to the Rich Family Foundation for their continued support.”

MEET RICH’S.
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

ABOUT THE SAY YES BUFFALO PARTNERSHIP.
Launched in 2012, the Say Yes Buffalo partnership is a community collaboration dedicated to strengthening the city’s public school system and increasing high school and postsecondary graduation rates. Comprised of the Buffalo Public School District, City of Buffalo, Erie County, the Buffalo Teachers Federation, the District Parent Coordinating Council and more than 100 other funders and community-based organizations, the partnership is made possible by the collaboration and generosity of Western New York individuals, families, businesses and organizations. For more information, visit www.SayYesBuffalo.org.

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Rich Products Acquires Signature Breads, Expanding Portfolio of Clean Label, Preservative-Free Baked Goods https://www.richs.com/rich-products-acquires-signature-breads-expanding-portfolio-of-clean-label-preservative-free-baked-goods/ Wed, 21 Jul 2021 15:48:00 +0000 https://www.richs.com/?p=3568 Acquisition enhances Rich’s bakery business with new line of specialty breads and rolls BUFFALO, N.Y. (July 21, 2021) – Global, family-owned food company Rich Products recently announced the expansion of its bakery portfolio with the acquisition of Signature Breads, a decades-long leader in specialty breads and rolls. Rich Products will continue to produce key Signature […]

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Acquisition enhances Rich’s bakery business with new line of specialty breads and rolls

BUFFALO, N.Y. (July 21, 2021) – Global, family-owned food company Rich Products recently announced the expansion of its bakery portfolio with the acquisition of Signature Breads, a decades-long leader in specialty breads and rolls. Rich Products will continue to produce key Signature Breads products like baguettes, ciabatta, and one-of-a-kind sandwich and dinner rolls, and the acquisition expands Rich’s offerings in the par- and fully baked bread and roll categories.

“When Signature Breads decided to cease operations, we recognized an opportunity to enhance our business with its exceptional product portfolio,” said Ray Burke, president and chief operating officer, U.S./Canada Region, Rich Products. “The acquisition allows our customers to purchase core Signature Breads offerings to help meet the demand for clean label, preservative-free and healthy options expected by today’s consumers. On top of that, Signature Breads’ customers now have greater access to Rich’s growing and diversified Value Added Bakery portfolio.”

Production of Signature Breads’ products will move to Rich’s manufacturing sites in Fridley, Minn and Ft. Erie, Canada. The transition also brings two former Signature Breads associates to the Rich’s family. Heidi Keathley has assumed the position of national business development manager – breads/rolls and is based in greater Boston. Keathley served for more than five years with Signature Breads, most recently as vice president of sales and marketing, and brings an exceptional foodservice industry background, including almost nine years with Tyson Foods.

Portland, Ore.-based Ryan Baenen joins Rich Products as regional commercial chains manager following a six-year tenure with Signature Breads, where he served as western U.S. regional sales manager. Both appointments are effective immediately.

Media Contact: Allison Conte, aconte@rich.com

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Rich Products achieves coveted global cybersecurity certification https://www.richs.com/rich-products-achieves-coveted-global-cybersecurity-certification/ Mon, 21 Jun 2021 15:56:00 +0000 https://www.richs.com/?p=3570 BUFFALO, N.Y. (June 21, 2021) – Rich Products, a global, family-owned food company announced that it has achieved ISO/IEC 27001:2013 certification, the most widely recognized international standard outlining best practices for cybersecurity management. An independent evaluation of Rich’s IT information security controls by British Standards Institute (BSI) auditors demonstrated the company’s commitment to protect and […]

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BUFFALO, N.Y. (June 21, 2021) – Rich Products, a global, family-owned food company announced that it has achieved ISO/IEC 27001:2013 certification, the most widely recognized international standard outlining best practices for cybersecurity management. An independent evaluation of Rich’s IT information security controls by British Standards Institute (BSI) auditors demonstrated the company’s commitment to protect and secure corporate information, including company, associate and customer data.  

The prestigious ISO 27001 certification is highly sought-after by organizations seeking to document a robust information security management system that meets the highest industry standard at a global level.

“Attaining ISO 27001 certification is an important accomplishment,” said Don Smyczynski, director of global digital risk management at Rich Products. “Security enables sustainability and growth within our business, and we are honored to receive this certification which illustrates our commitment to ensuring the security and privacy of our manufacturing data, as well as data shared with our customers and partners. Recognition from ISO 27001 reflects our commitment to the confidentiality, integrity and availability of systems and data at Rich Products.”

Jason VanEtten, global digital risk project manager for Rich Products, led the implementation of the Information Security Management System (ISMS), communicated the updated policies and coordinated the audits. “One of the most challenging aspects of managing cybersecurity is ensuring the program extends beyond Information Systems (IS) into other departments, including human resources, research and development, legal and finance. The holistic integration of important safeguards serves both Rich Products and its customers.”

ISO/IEC 27001:2013 is an ISMS standard published in October 2013 by the International Organization for Standardization (ISO) and the International Electrotechnical Commission. The standard ensures that organizations have established methodologies and a framework of business and IT processes to help identify, manage, and reduce risks. More information about this standard can be found online.

ISO 27001 certification provides current and potential customers and partners of Rich Products with independent validation of conformity with international cybersecurity standards. Certification details are publicly available in BSI’s certificate directory, located on BSI’s website here.

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Rich Products teams up with Nextbite in virtual restaurant pilot to test the future of foodservice https://www.richs.com/rich-products-teams-up-with-nextbite-in-virtual-restaurant-pilot-to-test-the-future-of-foodservice/ Tue, 08 Jun 2021 12:15:09 +0000 https://www.richs.com/?p=3487 Rich’s world headquarters serves as ghost kitchen for three new delivery-only virtual restaurants BUFFALO, N.Y. (June 8, 2021) – Resolutely at the forefront of foodservice innovation, Rich Products is collaborating with fast-growing startup Nextbite to launch a trio of on-trend virtual restaurants. Starting today, the global, family-owned food company will use Dolly’s, its Buffalo, N.Y.-based […]

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Rich’s world headquarters serves as ghost kitchen for three new delivery-only virtual restaurants


BUFFALO, N.Y. (June 8, 2021) – Resolutely at the forefront of foodservice innovation, Rich Products is collaborating with fast-growing startup Nextbite to launch a trio of on-trend virtual restaurants. Starting today, the global, family-owned food company will use Dolly’s, its Buffalo, N.Y.-based world headquarters’ kitchen, as a ghost kitchen to bring three new virtual restaurants to Western New York: Grilled Cheese Society, Monster Mac and The Big Melt, with more slated to launch in the coming months.

“Virtual restaurants and delivery-only concepts are a huge part of the industry innovation wave sparked by the pandemic,” said Kevin Spratt, senior vice president, Group Business Channels, Rich Products. “Rich’s collaboration with Nextbite puts us at the leading edge of this emerging trend, enabling us to gain key learnings to help our customers solve major business challenges, navigate the post-pandemic recovery and test the future of foodservice.”

Using robust consumer demand insight and backed by deep restaurant and technology expertise, Nextbite has developed a portfolio of delivery-only brands, tapping into what is projected to be a $1 trillion global industry by 2030 (Euromonitor). The rise of virtual brands reflects a wave of innovation by the restaurant industry in response to COVID-19’s massive disruption.

Prior to today’s launch, Rich’s spent months conducting primary research—from thought leader interviews to surveys—to develop a variety of tools that help operators create and start their own ghost kitchen or virtual restaurant brand. From how-to guides on building a virtual brand menu, to tips and tricks for creating an impactful brand and choosing the right packaging, Rich’s is committed to growing its knowledge and sharing findings with operators that are looking for ways to increase revenue. 

Available through GrubHub and DoorDash in greater Buffalo, N.Y., menu highlights from Rich’s three new virtual restaurants include:

  • Grilled Cheese Society: Signature takes on a favorite comfort food range from The Special (chorizo, queso fresco, pepper jack cheese, roasted jalapeños and red pepper mix and Society Sauce) to The Thursday with roasted turkey, bacon, muenster cheese, blue cheese crumbles, avocado spread and Society Sauce.
  • Monster Mac: Classic mac and cheese topped with everything from spicy grilled buffalo chicken breast with blue cheese crumbles and green onions (Buffalo Mac) to Mexican street corn, queso fresco, roasted peppers and cilantro (Street Mac).
  • The Big Melt: Patty melts from the Ha, Classic, featuring pepper jack cheese, grilled onions, sauteed mushrooms and Awesome Sauce, to That’s the Way the Blue Cheese Crumbles, with Cajun seasoning, blue cheese crumbles and Sriracha ranch dressing.

MEET RICH’S
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

About Nextbite
Nextbite is focused on helping restaurant partners successfully enter the virtual restaurant space by diversifying their portfolio, using under-utilized labor and kitchen capacity, and driving demand to increase margins and revenue. It enables brick and mortar restaurants to easily enter the delivery-only business, empowering them in the off-premise space. Founded in 2019, Nextbite is the only complete virtual restaurant solution for existing restaurants and kitchens that pairs a proven ordering/delivery management solution with a selection of highly visible, on-trend, delivery-only brands. Headquartered in Denver, Nextbite/Ordermark recently announced the close of its $120M funding round led by SoftBank.

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Rich Products BILLieves in Buffalo Small Businesses; Announces $75K Donation to Josh Norman and Mayor Brown’s Buffalo Business Blitz https://www.richs.com/rich-products-billieves-in-buffalo-small-businesses-announces-75k-donation-to-josh-norman-and-mayor-browns-buffalo-business-blitz/ Thu, 14 Jan 2021 14:58:37 +0000 https://staging.richs.com/?p=3055 Contribution adds to more than $425K raised funds that will be dispersed by WEDI to support local small businesses impacted by pandemic    Buffalo, New York (January 12, 2020) – On the heels of the Buffalo Bills first playoff win in decades,  Rich Products is adding to the city’s excitement. The global, family-owned food company, […]

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Contribution adds to more than $425K raised funds that will be dispersed by WEDI to support local small businesses impacted by pandemic   

 

Buffalo, New York (January 12, 2020) – On the heels of the Buffalo Bills first playoff win in decades,  Rich Products is adding to the city’s excitement. The global, family-owned food company, headquartered on Buffalo’s West Side for more than 75 years, today announced that it is teaming up with Buffalo Bills All-Pro Cornerback Josh Norman on behalf of his foundation, Starz 24, to support the Buffalo Business Blitz.  

Founded by Norman, in partnership with Mayor Byron Brown and the City of Buffalo, the Buffalo Business Blitz initiative is raising critical funds to support local small businesses that have been hit hardest by COVID-19 restrictions. With Rich’s $75K donation, the Buffalo Business Blitz has raised more than $500K to-date for area small businesses.

“Buffalo Business Blitz shows the winning spirit of Buffalo and Western New York,” said Josh Norman. “I am humbled by the support of the local business community. Thank you to the Rich family for their generosity. We are now $75,000 closer to hitting the half million dollar mark. I encourage everyone to continue to donate so that we can help as many small businesses as possible.”

Small businesses can earn up to $2,500 in financial assistance awards through the Buffalo Business Blitz. The Westminster Economic Development Initiative (WEDI) was selected by Starz 24 to disperse the funds raised through the program.

 “Whether it’s your corner coffee shop or your favorite restaurant, we all know a small business that’s facing adversity like never before,” said Jon Dandes, corporate vice president of government relations and special projects, Rich Products and Rich Family Foundation. “As a company that started as a small business on Buffalo’s West Side more than 75 years ago, Rich’s has a deep appreciation for the vibrancy small businesses bring to our community. We’re especially pleased that WEDI, one of our partners within the West Side Promise Neighborhood, has been selected by Starz 24 to administer the grants.”

HOW TO APPLY (limited application window)
From January 13-18, 2021, interested small businesses can apply to the program via an online application form that will be live starting on Wednesday, January 13 at 9:00 a.m.

Applicants may include small businesses located in Erie County, NY that filed taxes in 2019. The funding will target businesses that have been most affected by the pandemic, such as brick-and-mortar locations that do not have an e-commerce presence. WEDI will handle all logistics associated with the application process, including application evaluation and administration of the funds.   

“Buffalo Business Blitz is an inspiring way for community members to collectively impact our local economy,” said Carolynn Welch, executive director, WEDI. “At WEDI, we’ve been supporting and promoting small businesses for over a decade, but we could have never imagined that those businesses, and so many in Western New York, would face such a detrimental hardship. Buffalo has weathered many storms, but our community always sticks together to support our neighbors.”

Mayor Brown added, “I’m proud of our community for its generosity and strong support to protect our small businesses. I thank Josh Norman for his dedication to the success and livelihood of our community. I also thank the many individuals and organizations who stepped up and donated to this innovative initiative to help Buffalo area businesses.”

MEET rICH’S.
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods, among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family.

Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

About the STARZ 24 Foundation

The STARZ 24 Foundation, a 501(c)(3) non-profit organization, was founded by humanitarian philanthropist Joshua R. Norman. The main mission of STARZ 24 is to provide enrichment to children through community events & youth programs, aiming to inspire them to become future leaders in science, technology, engineering, math, and the fine arts. STARZ 24 seeks also to engage with global leaders to sponsor programs which open pathways for children and youth to economic empowerment, providing equal access to high quality and equitable education, while encouraging innovation, social entrepreneurship, and future generations of world leaders. For more information on STARZ 24 and its initiatives, please visit www.starz24.org.

About the Westminster Economic Development Initiative (WEDI)

WEDI’s mission is to strengthen communities through a continuum of educational and financial resources, removing systemic barriers to economic equity for all Western New Yorkers. Founded in 2006 by members of the Westminster Presbyterian Church to improve the quality of life for residents of Buffalo’s West Side, WEDI (the Westminster Economic Development Initiative) has two focus areas—Education and Economic Development—and numerous programs including the West Side Bazaar. The organization’s dual focus on providing access to both educational and financial resources makes WEDI unique among its peers. With a passionate, diverse staff that is representative of the constituents it serves, WEDI is well-poised to realize its vision that all residents of Western New York can succeed and thrive in a culturally inclusive community. For more information on WEDI visit www.wedibuffalo.org.    

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GREAT POINT CAPITAL ANNOUNCES PLANS TO BUILD A MAJOR FILM & TV STUDIO COMPLEX IN BUFFALO, NY https://www.richs.com/great-point-capital-announces-plans-to-build-a-major-film-tv-studio-complex-in-buffalo-ny/ Tue, 30 Jun 2020 20:51:49 +0000 https://staging.richs.com/?p=2910 Buffalo, NY – June 30, 2020 – Great Point Capital Management, a media-focused investment fund run by Robert Halmi and Fehmi Zeko, today announced it has filed plans with the city of Buffalo to build a major new film and television studio complex. Earlier this year, Great Point signed a deal with Rich Holdings Inc. […]

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Buffalo, NY – June 30, 2020 – Great Point Capital Management, a media-focused investment fund run by Robert Halmi and Fehmi Zeko, today announced it has filed plans with the city of Buffalo to build a major new film and television studio complex. Earlier this year, Great Point signed a deal with Rich Holdings Inc. to purchase a building site for the studio on land adjacent to Rich Products, Niagara Street campus.

The $50+ million full-service film and television production facility will include two 20,000-square-feet stages and 70,000-square-feet of office and support space. The studio will be built in two phases, with construction on Phase-1 slated to start this September with projected completion in autumn 2021.

Fehmi Zeko, co-founder of Great Point Capital said, “Buffalo is an ideal city for a state-of-the-art film and television complex. A combination of great locations, well-trained crew and tremendous support from local government, has made Buffalo a desirable destination for filmmakers. With the addition of the studio, Buffalo will see year-round activity.”

Rich Holdings Inc., a key investment partner and a long-time corporate force in Buffalo has been instrumental in bringing this opportunity to fruition. Bill Gisel, executive vice chair of Rich Holdings, Inc. said, “The new studio facility will provide an immeasurable boost to filmmaking and television production in Buffalo, and we are thrilled that our West Side Promise Neighborhood will be at the center of it.”

Longtime local developer and former CEO of the Buffalo Sabres, Larry Quinn, will be coordinating and supervising all aspects of the project for Great Point. Buffalo based architecture firm, Architectural Resources, is designing the studio with Krog orporation acting as construction manager and builder. Great Point will be using Buffalo subcontractors and the local labor force to complete the building. The studio is expected to be a big boost to the local economy. In addition to the many full and part time jobs which will be created at the complex, films utilizing the studio will source catering, security, cleaning crews, transportation and housing locally.

The Mayor of Buffalo, Byron Brown, said “Buffalo continues to emerge as a film-friendly city and the building of a major film and television studio complex, here in our community, is a game-changer for our community and a positive statement of the long-term confidence Great Point Capital Management and Rich Holdings, Inc. have in our City’s growing film and television industry,” stated Buffalo, New York Mayor Byron W. Brown. “This $50+ million investment means new employment opportunities for City residents and more business for those around the City who support Buffalo’s thriving film sector.”

This will be the second studio complex under construction for Great Point Capital. Construction on their Lionsgate Studios in Yonkers, NY has resumed after a three-month Covid-19 hiatus. Great Point is in discussions with numerous television companies that are considering the role as anchor tenant for the Buffalo Studios.

“As a Western New Yorker, I am proud that Buffalo is emerging as the top destination to film in Upstate New York,” said Lt. Governor Kathy Hochul. “The addition of this major film and TV studio complex means more jobs, more business and more opportunities to showcase our friendly city and unique Western New York region. As we continue to contain the spread of the coronavirus, we are simultaneously building back Western New York better than ever before and further putting the City of Buffalo on the map.”

Adviser to the fund is London-based Great Point Media Group, a diversified media and entertainment company owned by Jim Reeve and Robert Halmi (who will also be an investor in the new studios). Great Point Media Group has provided investment and arranged financing for more than 50 production companies with clients including Lionsgate, Netflix, Amazon, Hulu, Google, Sky, BBC, ITV, Universal, AMC, Hallmark, Sony and Paramount.

ABOUT GREAT POINT CAPITAL MANAGEMENT
Great Point Capital Management is a media-focused investment fund specializing in film and television infrastructure concentrated on investments in qualified economic opportunity zones. The general managers are Fehmi Zeko and Robert Halmi. They are presently expanding into new studio investment/management businesses in other locations in North America and the U.K.

Robert Halmi is the founder of the Hallmark Channel and was Chairman of Crown Media. Robert has been the Chief Executive Officer of four public companies. As President and CEO of Hallmark Entertainment, Robert transformed the business from a small production company into one of the first modern studios, with production, distribution and broadcast all in one company. Under Halmi’s leadership, Hallmark Entertainment produced over 2,000 hours of original content. Halmi is an active member of the Academy of Television Arts & Sciences and serves on the board of the International Emmy Committee. He is also Chairman of Great Point Media, a U.K.-based media group, which will provide synergistic opportunities for Great Point Capital Management.

Fehmi Zeko has established a record of helping global technology, media and telecommunications clients build strong companies and deliver profitable growth through landmark M&A, turnaround and growth initiatives. Fehmi has led the banking strategies in global communications, media, entertainment and telecom at Bank of America, Macquarie Capital, Deutsche Bank and Citigroup. Fehmi has had consistent success providing operating advice and capital to drive the completion of hundreds of transactions and raising hundreds of billions in equity and debt capital. He has built, led and/or expanded market sector practices in leading institutions through long-standing corporate relationships with clients such as Viacom, Newscorp, Fox, Time-Warner, Comcast NBCUniversal, Cablevision, Disney, CBS, Yahoo, Facebook, Sony, Warner Music, Thomson Reuters, Bertelsmann, Vivendi, Sprint, American Tower, Apollo, Bain, TPG, KKR, TH Lee and Blackstone, among others.

ABOUT GREAT POINT MEDIA GROUP
Founded in 2013 by Robert Halmi and Jim Reeve, Great Point Media specializes in the development, investment, distribution and sales of intellectual property in entertainment media. The U.K.-based company has produced and helped bring to the screen such acclaimed films as Damsel, Love After Love,The Party and Lady Macbeth.

Jim Reeve is an Emmy-Award-winning producer with over 25 years of experience in the development, production, financing and distribution of television programs and films, with numerous credits including Foyle’s War and Jack Higgins’ On Dangerous Ground. In addition, Jim is a leading authority on media EIS and SEIS businesses and over the past decade has managed over £500m worth of EIS investment in media content.

ABOUT RICH’S
Rich Holdings, Inc. is the holding company for all Rich family business enterprises, including food, logistics, sports, travel, dining and theatre. Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich’s is a global leader with a focus on everything that family makes possible.

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Support Your Local Pizza Place During #TheGreatAmericanPizzaParty https://www.richs.com/support-your-local-pizza-place-during-thegreatamericanpizzaparty/ Thu, 16 Apr 2020 14:11:51 +0000 https://staging.richs.com/?p=2756 Americans Encouraged to Order Pizza for a Chance to Win a Full-Size Arcade Game LOS ANGELES, Calif. (April 16, 2020) – On Friday, April 17, pizza restaurants across the country will come together for The Great American Pizza Party, a national event to support pizza restaurants during the COVID-19 crisis. Americans are encouraged to support […]

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Americans Encouraged to Order Pizza for a Chance to Win a Full-Size Arcade Game

LOS ANGELES, Calif. (April 16, 2020) – On Friday, April 17, pizza restaurants across the country will come together for The Great American Pizza Party, a national event to support pizza restaurants during the COVID-19 crisis. Americans are encouraged to support their favorite pizza restaurants by enjoying the time-honored tradition of Friday night pizza at home. 

The Great American Pizza Party, supported by family-favorite pizza joints like Marco’s Pizza and Papa Murphy’s Take ‘N’ Bake Pizza, is an extension of The Great American Takeout. Los Angeles advertising agency High Wide & Handsome, supported by a coalition of restaurants nationwide, developed The Great American Takeout to help restaurants during the coronavirus pandemic. The restaurant industry, which employs more than 15 million Americans, now relies on delivery and takeout orders to survive. 

As a tribute to the pizza arcades of yesteryear, The Great American Takeout and Rich Products are giving away a full-size arcade machine (loaded with 60 games) to one participant in The Great American Pizza Party. 

To enter for a chance to win:

  • Order pizza on Friday, 4/17
  • Post a picture of your pizza pie with one slice removed along with the hashtags #TheGreatAmericanPizzaParty and #Sweeps
  • Follow @thegreatamericantakeout if participating on Instagram, or @TheGATakeout if entering on Twitter

Additionally, Rich Products will donate $5 to the Restaurant Employee Relief Fund (RERF.US), up to $25,000 total, for every social media post tagged with  #TheGreatAmericanPizzaParty on April 17th. The National Restaurant Association Educational Foundation created RERF.US to support U.S. restaurant workers financially impacted by the COVID-19 crisis, and to provide aid to restaurant employees nationwide. 

“We were so energized by #TheGreatAmericanTakeout initiative that we started brainstorming creative ways to offer additional support,” said Kevin Spratt, senior vice president, Foodservice Division, Rich Products. “Since pizza is such an important part of our business and a beloved takeout tradition, evolving the campaign into #TheGreatAmericanPizzaParty was a natural fit. It’s an uncertain time for all of us, but especially our valued foodservice operators who need our help. In this case, help means ordering pizza on Friday night for you and your family. Now, that’s something we can all get behind.”

For more information about The Great American Pizza Party, visit www.thegreatamericantakeout.com.

# # #

CONTACT:

Sara Dunaj
High Wide & Handsome // The Great American Takeout
860.705.5616
sara.dunaj@wearehwh.com 

Allison Conte
Rich Products
aconte@rich.com 

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Rich’s Response to COVID-19 https://www.richs.com/richs-response-to-covid-19/ Fri, 03 Apr 2020 15:00:00 +0000 https://staging.richs.com/?p=2619 As the global COVID-19 pandemic continues its impact around the world, Rich Products is responding through actions, resources and compassion. Our top priority is protecting the health and safety of our associates and those we do business with – including customers, suppliers, partners, visitors and all their families around the world. Because so many count […]

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As the global COVID-19 pandemic continues its impact around the world, Rich Products is responding through actions, resources and compassion.

Our top priority is protecting the health and safety of our associates and those we do business with – including customers, suppliers, partners, visitors and all their families around the world. Because so many count on the products we produce and jobs we provide, we’re focused on continuing to service our customers, without interruption, to the best of our ability. 

Based on our values as a global, family-owned company, these are some of the actions we’ve taken to respond, along with information on who to contact with questions:

COVID-19 Task Force
Our cross-functional, company-wide COVID-19 task force has been hard at work planning and reacting to the challenges we’re facing today, tomorrow and in the months ahead.

Social Distancing & Remote Work
We are committed to doing our part to protect the communities where we live and work. This includes taking the necessary steps to help “flatten the curve” and slow the spread of the virus. Accordingly, we are making a concerted effort to practice social distancing and reduce the volume of people in our buildings. Specifically, we are requiring all associates who can work from home to do so, leveraging technology and digital collaboration tools to continue their work. 

Travel & Meetings

  • All travel remains business-essential, in-country travel only.
  • All non-essential meetings and events have been canceled or postponed, including tradeshows and conferences.
  • Rich’s associates are leveraging technology and collaboration tools to connect with customers, external business partners and colleagues, in lieu of travel and in-person meetings.

Global Operations
As an essential business operation and part of critical infrastructure, we continue to fuel the food supply in the countries where we live and work. Our production facilities are operational. As part of our business continuity process, we have been and continue to work on contingency plans across our business to prepare for  potential disruptions.

Supporting Our Own
We have reinforced to all our associates that their health and safety is our top priority. We have mandated to all associates that if they are sick, to stay home without question. We’ve upped sanitization efforts and precautionary measures for our people. We’ve also launched temporary enhanced benefits to support our workforce during this extraordinary time.

Bettering Our Communities
Rich’s is supporting the communities where we live and work in a variety of ways, from financial aid to in-kind donations. This includes grants to our nonprofit partners, meal prep to support health care and frontline community workers, donation of transportation to support organizations like Meals on Wheels and much more. We appreciate the privilege we have to assist and uplift those around us through the Rich Family Foundation.

Rich Products is a global company, with local soul. We will do our best during this global health crisis to help our associates, customers and communities in ways that you would expect from Rich’s. You have our commitment.

Contact Information

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Rich Products Kicks off 75th Year with Expansion https://www.richs.com/rich-products-kicks-off-75th-year-with-expansion/ https://www.richs.com/rich-products-kicks-off-75th-year-with-expansion/#respond Mon, 10 Feb 2020 20:10:40 +0000 https://staging.richs.com/?p=2570 Global Family-Owned Food Company Announces Three Acquisitions as Part of Long-Term Growth Strategy Buffalo, New York (February 10, 2020) – Global, family-owned food company Rich Products today announced the expansion of its product portfolio with three acquisitions: Rizzuto Foods, a Pacific northwest-based leader in pizza dough innovation; Morey’s Seafood International, a major seafood industry player […]

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Global Family-Owned Food Company Announces Three Acquisitions as Part of Long-Term Growth Strategy

Buffalo, New York (February 10, 2020) – Global, family-owned food company Rich Products today announced the expansion of its product portfolio with three acquisitions: Rizzuto Foods, a Pacific northwest-based leader in pizza dough innovation; Morey’s Seafood International, a major seafood industry player based in Plymouth, MN; and two manufacturing plants from TreeHouse Foods, a leading manufacturer and distributor of private label breads, rolls and cakes. These strategic additions position Rich Products for continued growth, innovation and long-term success.

“As we enter our 75th year, we remain as committed as ever to driving value for our customers,” said Ray Burke, president and chief operating officer, Rich Products’ U.S. Canada Region. “Expanding our product portfolio, adding greater capacity and fueling innovation are key pieces of our strategic acquisition efforts. These moves strengthen our position as a total solutions provider in today’s rapidly evolving marketplace.”

Bakery and Dessert Expansion
Furthering Rich’s reach and offerings in both the bakery and dessert categories are two manufacturing plants the company will acquire from TreeHouse Foods. Located in Lodi, CA, and Fridley, MN, these facilities specialize in baked artisan breads and rolls, as well as fully finished cakes for in-store retail bakeries and foodservice.

These two manufacturing plants allow Rich’s to provide its customers with greater in-demand product options and adds industry reputable brands like Cottage Bakery to its product portfolio. Enhancing Rich’s dessert and bakery business units, the acquisitions also align with Rich’s long-term plans for growth.

More than 400 associates across the two plants join Rich’s as part of this acquisition. The transaction is expected to close in April.

Enhanced Pizza Capabilities
Rich’s amplifies its more than 40-year legacy in the pizza business with the acquisition of Rizzuto Foods. Based in Spokane, WA, Rizzuto is best known for high-quality pizza and flatbread products, along with gluten-free and cauliflower crusts. The strategic addition of Rizzuto Foods positions Rich’s for continued growth, greater capacity, increased innovation and long-term success in the category.

Like Rich’s, Rizzuto has been family-owned for more than 60 years. What started in 1957 as Joe’s Drive In Pizza has grown into a large multi-faceted business. Since becoming Rizzuto’s in 1991, the company has produced more than 1 billion pizza crusts.

Greater Seafood Growth
Rich’s is expanding its current seafood footprint with the acquisition of Morey’s Seafood International, a leading seafood industry player based in Plymouth, MN, that also has family-owned roots. Founded in 1937 by Ed Morey, Morey’s has become a Minnesota icon and a legacy brand in the seafood category. With a state-of-the-art processing center in Motley and a distribution facility in Plymouth, MN, Morey’s offers a full line of high quality, authentic fish and seafood products.

Already a venerable leader in value-added seafood, Rich’s SeaPak brand is America’s top selling retail brand in the frozen specialty seafood category. The company’s investment in Morey’s will grow Rich’s seafood business, allowing Rich’s to expand its impact and deliver even more options for customers.

Financial terms of each transaction were not disclosed.

MEET RICH’S.

Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods, among others. Working in 100 locations globally, with annual sales exceeding $4 billion, Rich’s is a global leader with a focus on everything that family makes possible. Rich’s®—Infinite Possibilities. One Family. Learn more at Richs.com or join the conversation on Facebook, Instagram, LinkedIn and Twitter.

ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading manufacturer and distributor of private label packaged foods and beverages in North America. We have over 40 production facilities across the United States, Canada and Italy, and our vision is to be the undisputed solutions leader for custom brands for our customers. Our product portfolio includes shelf stable, refrigerated, frozen and fresh products, including baked goods (refrigerated and frozen dough, cereal, cookies, crackers, pretzels and snack bars); beverages (broth, single serve hot beverages, creamers and powdered drinks); and meal solutions (dressings, hot cereal, macaroni and cheese, pasta, pickles, sauces and side dishes). We have a comprehensive offering of packaging formats and flavor profiles, and we also offer natural, organic and preservativefree ingredients across almost our entire portfolio. Our purpose is to make high quality food and beverages affordable to all. Additional information, including TreeHouse’s most recent statements on Forms 10-Q and 10-K, may be found at TreeHouse’s website, https://www.treehousefoods.com.

ABOUT RIZZUTO FOODS
Rizzuto Foods is a manufacturer of premium parbaked, freezer to oven and gluten free pizza crusts, frozen pizza doughs and breadsticks. Our product line is designed to provide solutions to the broad spectrum of operational demands and requirements that exist within the foodservice industry. The Rizzuto name has become synonymous with the pizza industry in the Northwest and beyond by providing innovative solutions, value and reliable service to our customers since 1991.

ABOUT MOREY’S SEAFOOD INTERNATIONAL
Morey’s Seafood International LLC specializes in the manufacturing, marketing and distribution of restaurant-inspired, great tasting fish and seafood products. Morey’s commitment to quality, taste, convenience and healthy products is consistent with consumer feedback when sharing what they look for in today’s marketplace. Since 1937, Morey’s has grown to be a leading seafood manufacturer and distributor. Today, Morey’s manufactures and distributes multiple products under the Morey’s label including Morey’s marinated seafood and Morey’s smoked fish products. Morey’s is an active member of the National Fisheries Institute and a member of the Global Aquaculture Association. For more information, go to www.moreys.com.

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