Martin's selling Gibble's to focus on bakery business
Chambersburg-based Martin's Famous Pastry Shoppe Inc., the maker of Martin's Potato Rolls, said today it has an agreement to sell its snack-food division Nibble with Gibble's to Berks County businessman Eldon Dieffenbach.
Martin’s wants to focus more on its bakery products including breads and rolls, so selling the snack-food business was a good move at this time, said Scott Heintzelman, vice president of finance and administration. Bakery products represent about 95 percent of the company’s business, he said.
The Gibble’s brand employs about 30 people making various snack foods, including potato chips, popcorn, pretzels and air-puffed cheese snacks. Martin’s will cease Gibble’s operation Nov. 30. Dieffenbach is expected to rehire the employees to continue making the Gibble’s brands shortly after that, Heintzelman said.
The deal is expected to close Dec. 1, he said. The company is not disclosing the sale price.
Dieffenbach and his family own Dieffenbach’s Potato Chips Inc., based in Womelsdorf, Pa. He managed day-to-day operations of the chip company with his brother Nevin until 2006.
Dieffenbach has been building a diverse group of company holdings over the years, including electrical contractors Blatt & Myers Inc. based in Myerstown, Lebanon County; reclaimed and recycled wood company Keystone Vintage Lumber based in Lebanon; and dGroup Information Technology Inc. in Myerstown. He did not immediately return calls seeking comment on the deal.
Martin’s employs 450 people, most in its Chambersburg factory and some in its Valdosta, Ga., factory. The company distributes its products along the East Coast and in Chicago. Martin’s plans to continue growing its bakery segment with expansion to Texas markets as its next possible move, Heintzelman said.