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SYRACUSE - River Valley Holdings, Inc. - the parent company of River Valley Foods, a distributor of frozen foods and ice cream - has purchased the assets of Cavallaro Specialty Foods, Inc., a 130employee firm based in DeWitt.
River Valley has formed a new subsidiary, Cavallaro Foods, LLC. The new unit will continue to serve Cavallaro's customer base, says Gerard Redmond, president of River Valley Holdings.
River Valley Holdings had 155 employees before the acquisition and will post $60 million in revenue this year, Redmond estimates. The company sells food products to 2,000 customers in the Northeast, primarily in New York and Pennsylvania. Following the deal, River Valley has 285 employees. Redmond declined to provide a revenue estimate for the new, combined company.
Cavallaro distributes food products such as imported spices and...