Woodbridge investment firm buys Amboy Group out of bankruptcy

By Eric Strauss
Woodbridge | Jun 18, 2019 at 4:35 pm

A Woodbridge-based investment group, United Premium Foods, has purchased meat and food products provider Amboy Group out of bankruptcy, it announced this week.

An affiliate, Amboy Woodbridge Realty, has acquired the company’s real property and cold storage business, UPF noted in a news release on the transactions.

“The acquisitions include a state-of-the-art meat processing and cold storage facility, as well as an extremely strong and loyal customer based,” UPF Chairman and acting CEO Jim Kwon said in a prepared statement. “We are confident that, with additional working capital, supplemental management and a new operating team, we can improve operating efficiencies while growing the company’s market share and reach.”

UPF intends to continue Amboy’s operations, it noted, with Amboy Group CEO William Colbert joining UPF’s management team.

“Mr. Colbert has been a tremendous asset to Amboy Group, and we look forward to working with him as he brings his strong sales and food processing expertise to United Premium Foods,” Kwon said.

Amboy’s processing facility is located at 1 Amboy Ave. in Woodbridge, comprising 110,000 square feet, while its cold storage capacity stands at 1 million cubic feet — making it one of the largest such facilities in the Northeast.

“With the acquisition, United Premium Foods will continue to produce more than 100 proprietary products, including the Tommy Moloney’s brand, the leading provider of traditional Irish meat products in the U.S., as well as maintain a full-service, private-label meat processing business,” Colbert said.

Eric Strauss | estrauss@roi-nj.com | acerimrat