Cornerstone Foodservice Group snaps up assets of coffee machine maker

Wholesale Coffee Bean Prices On The Rise

Cornerstone Foodservice Group, a subsidiary of ShoreView Industries, has acquired the assets of Astra Manufacturing, a designer and manufacturer of premium coffee equipment for both the commercial and home segments.

This is the group’s third acquisition after buying Spring USA in September 2016 and LloydPans in July 2017.

Kristine Holtz, CEO of Cornerstone Food Service Group, said: “Cornerstone is a family of innovative and trusted brands. We believe Astra’s thoughtful approach to the art of coffee provides a highly profitable solution for our customers in the face-paced, rapidly growing premium coffee segment.

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Richard Hourizadeh, president and founder of Astra Manufacturing, said: “I am excited to be joining forces with Cornerstone Foodservice Group.

“Cornerstones vast customer and distribution channels will allow us to bring our products to new markets and help fuel Astra’s long-term growth.”

Astra Manufacturing, based in California, has produced premium, professional espresso machines, steamers, grinders and accessories since 1993.

Tags : acquisitioncoffee machinesCornerstone Foodservice GroupLloydPansShoreView Industries
Carly Hacon

The author Carly Hacon

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