An Idaho-based food broker expanding nationwide as a go-between for packaged food companies and grocers has snatched up a Minnesota firm.
Impact Group of Boise said it acquired Minnetonka-based Impact Sales & Associates, as well as two other food brokers in suburban Milwaukee. Terms were not disclosed.
Food brokers can serve both grocery store clients looking for products to stock their shelves and food brands looking for places to sell their goods.
Impact Group offers other services, like brand marketing, consulting and distribution know-how. The company was founded in 1994 but has grown quickly over the past several years. The three-firm acquisition marks the company’s ninth purchase since 2016.
Minnesota-based Impact Sales & Associates is a full-service food broker, with a focus on wholesale distribution. The 45-person company brings to Impact Group a relationship with Minneapolis-based Target Corp.
Impact Group Chief Executive Carl Pennington said he hopes the purchase of Impact Sales will expand its reach in conventional grocery, natural foods, convenience stores and mass retailing.
“The Midwest, including Minneapolis, is a crucial area for us to develop,” Pennington said in an e-mail Friday. “This round of acquisitions is critical because the companies involved have deep relationships in the Midwest with major retailers, both large and independent, allowing us to serve our [consumer packaged goods] clients much more effectively in this area.”
Impact Group has local clients like Cameron’s Coffee, based in Shakopee, and Organic Valley, based near La Crosse, Wis. It represents other national brands like Hansen’s, Amy’s, Smucker’s and Mattel. On the grocery side, Impact regularly works with grocers Albertsons and Kroger.