Lamex Food Group, Bloomington, Minn., entered into an agreement to acquire a significant holding in Mondi Serbia, a processor of frozen fruit and vegetables. The deal is subject to approval of a proposed creditors arrangement and the Serbian authorities. Lamex Agrifoods, a wholly owned subsidiary of Lamex Food Group, will handle the worldwide sales for the new business, which will be renamed Mondi Lamex.
“We’re very excited about this announcement,” says Phil Wallace, chief executive officer of Lamex Food. “The Mondi Serbia business has hit difficult times with the continual increase in the cost of raw material and a lack of available finance, but we have been a customer for many years and believe it to be one of the best processing plants in Serbia with a great team of people.”