Rich Products Corporation (also known as Rich's) is a privately held multinational food products corporation headquartered in Buffalo, New York. The company was founded in 1945 by Robert E. Rich, Sr., after his development of a non-dairy whipped topping based on soybean oil, 21 years before Cool Whip. Since then, the company has expanded its non-dairy frozen food offerings and also supplies products to retailers, bakeries, and foodservice providers.
Rich's employs 11,000 employees worldwide, with manufacturing facilities in many countries. The company sells more than 2,000 products in 112 countries. It currently ranks number 116 on Forbes list of America's Largest Private Companies.
In addition to Farm Rich, the company sells products under other brands it has acquired, such as SeaPak, French Meadow, Casa Di Bertacchi, Byron's Barbecue; Carvel, F'real and Jon Donaire. CoffeeRich' is one of the company's few exceptions, with nearly all of its products not being sold under the Rich brand name.
Company history
1940s
Rich's began in 1945, when Robert E. Rich, Sr. created a cream less expensive than dairy-based whipped cream and lasted longer in the refrigerator, and could reportedly "remain frozen for more than a year without degrading."
1950s
In 1954, the company introduced the first commercial line of frozen éclairs and crème puffs.
1960s
Rich's expanded further, introducing CoffeeRich, a non-dairy frozen creamer in 1961. The company also constructed a manufacturing plant in Fort Erie, Ontario, Canada the following year. This facility is now known as Rich Products of Canada, Ltd. The acquisition of Elm Tree Baking Co., in 1969 expanded Rich's products to include frozen baked goods.
1970s
Rich's acquired nine new production facilities, as well as SeaPak, a St. Simons, Georgia based company that produces frozen seafood specialties. In 1973, they bought the rights to rename the Buffalo Bills stadium to Rich Stadium for 25 years (a total cost of $1.5 million).
1980s
In 1980, Rich's introduced Freeze-Flo, a process allowing foods to remain soft while frozen. It also introduced another product, On Top, a non-dairy dessert topping, in 1986. Rich's also expanded its product line through the acquisition of Casa Di Bertacchi, a specialty meat and frozen pasta producer, in 1982, and Byron's, a barbecue and meat producer, in 1986.
1990s
During the 1990s, Rich's expanded internationally, opening facilities in Mexico, London, Singapore, Hong Kong, Tokyo, and Australia, among others.
In 1997 the company was described as a "20-plant, $1 billion global food-processing corporation."
2000s
Since 2000, Rich's has acquired a number of companies, including frozen dessert and bakery mix producer JW Allen & Co., Jon Donaire Desserts, and donut producer Rolling Pin Manufacturing. Rich's integration of French Meadow Bakery and acquisition of World Catch LLC (all-natural seafood) and GLP Manufacturing (gluten-free baked goods) entered the company into the health and wellness food sector.
In 2005, the company celebrated 60 years as a family-owned company with the "60 Delicious Years" worldwide birthday party on March 14. As part of the celebration, Rich's renovated lunch and break rooms at all of its manufacturing sites and launched an employee recognition program.
With over 2,000 products sold in "more than 85 countries," 2005 sales worldwide was $2.5 billion.
2010s
On August 23, 2013, Rich's celebrated the 50th anniversary of its Fort Erie, Ontario plant.
On June 24, 2014, Rich's unveiled its new Innovation Center and Atrium @ Rich's. On 1 January, 2020, Richard Ferranti became the new CEO of Rich's.
2020s
in January 2020, Rich's announced the acquisition of two manufacturing plants from TreeHouse Foods, followed by two other acquisitions in February; Rizzuto Foods, which manufactures pizza products, and Morey's Seafood International, a Minnesota-based seafood processing and distribution company.
In July 2021, Rich Products announced the acquisition of Signature Breads.
Product portfolio
Rich's offers a variety of products, including toppings and icings; sweet goods; finished desserts; appetizers; bread and rolls; pizza products; Italian specialties; barbecue; and shrimp and seafood.
In addition to the Rich's brand (Farm Rich), the company mostly sells products under other brands it has acquired, such as SeaPak; French Meadow, Casa Di Bertacchi; Byron's Barbecue; Carvel, f'real and Jon Donaire. CoffeeRich is one of the company's few exceptions; nearly all of its products are "sold not under the Rich brand name."