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.
Kenover is part of Kayco, located in Bayonne, New Jersey, which formed after a merger between Kedem Foods, Kenover Marketing and B&W Foods. Manischewitz is based in Newark, N.J.
The sale reportedly will not include Manischewitz’s Season brand.
The companies said in a statement on Monday, July 30, that they will conclude the transaction “in the near future” and will then announce the details and that meanwhile the two companies will operate business as usual.
The B. Manischewitz Co. LLC was founded by Rabbi Dov Behr Manischewitz in 1888 in Cincinnati and is known for its machine-made matzah and its line of Passover products, as well as its wines and Tam Tam crackers. Manischewitz remained a public corporation under control of the family until it was taken private in a 1990 management buyout for $42.5 million.
No members of the Manischewitz family are now involved in the company, according to Kosher Today.