News has figured prominently in our Top 10 this year, including this story about Baltimore-based Redwood Holdings taking ownership of Newly Weds Foods, its latest foray into the food industry.
According to multiple sources, Redwood Holdings has agreed to buy Newly Weds Foods for about $4 billion. Current Newly Weds Foods CEO Brian Johnson will purportedly continue to lead the company once the deal is completed.
The Angell family owns Chicago-based Newly Weds Foods, which was founded by Paul Angell in 1932. The company previously explored a sale following the 2022 death of Charles Angell, who took over the business from his father Paul.
“Newly Weds Foods has executed an agreement to be acquired by Redwood Holdings, a family-owned holding company,” Newly Weds Foods said in a written statement. “Redwood is fully aligned with our strategy and the culture of Newly Weds built by our late owner Charles Angell. Following the transaction, we will continue to operate as Newly Weds Foods and remain an independent, privately held and family-owned company as part of Redwood. We are excited about the future under our new ownership.”
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Newly Weds Foods Being Sold for $4 Billion
