Saputo has completed the acquisition of the Carolina Aseptic and Carolina Dairy businesses formerly operated by AmeriQual Group Holdings. These businesses, which join Saputo’s Dairy Division (USA) under its USA Sector, are conducted at two facilities in North Carolina and employ approximately 230 people. The purchase price of US$118 million (approximately CDN$149 million), on a cash-free and debt-free basis, was paid in cash at closing.
Fortune Fish & Gourmet, a leading processor, distributor and importer of seafood, meats, and gourmet products, has acquired CCT Logistics, a Theodore, Alabama-based 68,000-square-foot cold storage facility. Terms of the transaction were not disclosed.
Kombucha brand Health-Ade announced longstanding partner First Bev has acquired a controlling stake in the company, with investment help from Manna Tree. Daina Trout, who co-founded Health-Ade in 2012, has taken on the new role of Chief Mission Officer and will work in partnership with Jack Belsito, Managing Partner of First Bev, who will assume the role of CEO. Daina and Jack will be working to cultivate further growth for the fast-growing business, capitalizing on increasing consumer demand for gut-healthy products and expansion opportunities in retail accounts domestically and internationally.
Wayne Farms CEO Clint Rivers will lead the new poultry business.
August 9, 2021
Cargill, Continental Grain Company, and Sanderson Farms have reached a definitive agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms for $203 per share in cash, representing a total equity value for Sanderson Farms of $4.53 billion. The purchase price represents a 30.3% premium to Sanderson Farms’ unaffected share price of $155.74 on June 18, 2021, the last full trading day prior to media speculation about the potential sale of Sanderson Farms; a 22.8% premium to the Sanderson Farms 30-day volume weighted average price as of June 18, 2021, and a 15.2% premium to the all-time high share price as of June 18, 2021. Upon completion of the transaction, Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new, privately held poultry business.
Lineage Logistics has acquired Hanson Logistics, one of the largest cold storage organizations in the Midwest. Hanson currently ranks as the twelfth largest temperature-controlled warehousing and logistics provider in North America, according to the International Association of Refrigerated Warehousing (IARW).
Bakery manufacturer Brill--formerly known as CSM Bakery Solutions in the U.S.--is being sold to Minneapolis-based Rise Baking Company. The deal is expected to close this summer. Terms were not disclosed. This is the second major acquisition in just over a year for Rise Baking Company. Rise purchased the North American frozen bakery business of Dawn Foods in March, 2020.
Pilgrim’s Pride announced it has executed an acquisition agreement to acquire the meats and meals business of Kerry Consumer Foods in the United Kingdom and Ireland. Following the acquisition, Pilgrim’s will be a leading food company, with a significant value-added protein and integrated prepared foods business anchored by a portfolio of strong brands.
Lineage Logistics has reached an agreement to acquire Kloosterboer Group, a leading independent integrated platform for temperature-controlled storage, logistics and value-added services in Europe, Canada and South Africa. The transaction is subject to regulatory clearance and completion of the employee consultation process.
Flowers Foods, producer of Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake, and other bakery foods, announced it has acquired the assets of Koffee Kup Bakery (KKB) in Burlington, Vermont, from the court-appointed receiver of the assets. Financial terms of the transaction were not disclosed. The acquisition includes three closed bakeries located in Burlington and Brattleboro, Vermont, and North Grosvenor Dale, Connecticut, and the Koffee Kup Bakery and Vermont Bread Company brands.
Smurfit also sells flexible packaging business in El Salvador to Emusa Group.
June 7, 2021
Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, has completed the acquisition of Cartones del Pacifico, a leading paper-based packaging company in Peru.