The Manischewitz Co., a name synonymous with kosher food and wine, has announced its plans to sell its entire kosher business to NJ-based Kenover Marketing Corp., another industry leader.
The companies “have reached an understanding for a transaction whereby Kenover Marketing Corp. will acquire all of the kosher food business of Manischewitz,” according to reports.
Rabbi Dov Behr Manischewitz, who immigrated to the U.S. from Prussia in the 19th century, founded the B. Manischewitz Co. in 1888 in Cincinnati and the company became known for its kosher wine, machine-made matzah (it is the largest matzah manufacturer in the world), Passover products, and Tam Tam crackers.
Since becoming a public corporation in 1923, Manischewitz remained under family control until it was taken private in a 1990 management buyout for $42.5 million and no members of the Manischewitz family are currently involved in the company.
Kenover is part of Kayco, one of the world’s largest distributor of Kosher foods, which formed as the result of a merger between Kedem Foods, Kenover Marketing, and B&W Foods. Manischewitz’s Cincinnati plant closed in 1958 and the company is now based in Newark, New Jersey, while Kenover is headquartered in Bayonne, New Jersey.
The sale will reportedly not include Manischewitz’s Season brand.
The companies announced in a statement earlier this week that they will conclude the transaction “in the near future” and then will provide further details. Meanwhile, the two companies will conduct business as usual and will honor all outstanding commitments.
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