WINNIPEG, MAN. — Richardson International Ltd. has completed the acquisition of the Wesson oil business from Conagra Brands, Inc., Chicago. The Wesson edible oil portfolio includes vegetable, canola, corn and blended oils.
Financial terms of the transaction were not disclosed.
“This is a very exciting time for Richardson as we add strategic assets to strengthen and grow our food and ingredients business,” said Curt R. Vossen, president and chief executive officer of Richardson. “Not only are we effectively increasing our profile in North America, we are also enhancing our ability to meet the needs of a global marketplace with quality products.”
As part of the transaction, Richardson has acquired the Wesson production facility located in Memphis, Tenn., expanding the company’s presence in the United States and building on its oilseed processing operations. The 280,000-square-foot manufacturing plant is supported by a network of over 120 employees.
“We are pleased to be taking on an established, well-regarded brand in Wesson, and we are committed to not just maintaining that brand in the market, but also to bringing innovation, focus and investment to build the business,” said Chuck Cohen, executive vice-president of food, ingredients and ag technology.
With plans to invest in the Memphis facility, Richardson is committed to a continued U.S. presence for marketing, manufacturing and distribution of Wesson products.
“Richardson is committed to the Memphis plant, the employees, the local community and a continued U.S. presence for marketing, manufacturing and distribution of Wesson products,” Mr. Vossen said. “We are proud of our long legacy of investing in and supporting the communities in which our customers and employees live and work.”