EAGLE, IDAHO — Lamb Weston Holdings, Inc. has acquired Australian frozen potato processor Marvel Packers Pty Ltd. Headquartered in Hallam, Victoria, Marvel operates several frozen potato processing and storage facilities in Hallam. The company’s frozen potato chips products are sold under the Marvel Frozen Chips and Farmers Best brands.
Financial terms of the transaction were not disclosed.
“Our purchase of Marvel is part of our strategy to strengthen our global capabilities and continue to drive growth both organically and through acquisitions,” said Thomas P. Werner, president and chief executive officer of Lamb Weston. “Marvel not only provides us with an opportunity to increase our position in Australia’s 1.1-billion lb market with in-country production, it also creates new avenues to serve our customers.”
With the acquisition of Marvel, Lamb Weston will add approximately 50 million lbs of production capacity to its existing global manufacturing network. Lamb Weston will own and operate 16 processing facilities worldwide, and an additional 9 facilities in conjunction with its joint venture partners.