EAGLE, IDAHO — Lamb Weston Holdings, Inc. has entered into an agreement to acquire Ready Meals Pty Ltd., a frozen potato processor based in Hallam, Victoria, Australia. Financial terms were not disclosed.
Ready Meals produces frozen potato products under the Harvest Choice brand and sells its products through a network of food service distributors. The company operates frozen potato processing and storage facilities in Hallam, Victoria.
The acquisition of Ready Meals will add approximately 70 million lbs of production capacity to Lamb Weston’s global manufacturing network. Once the transaction is completed, Lamb Weston will own and operate 18 processing facilities worldwide and an additional 8 facilities in conjunction with its joint venture partners.
“The Ready Meals acquisition is the continuation of our strategic work to strengthen and expand our global capabilities,” said Tom Werner, president and chief executive officer of Lamb Weston. “The acquisition complements our presence in Australia, providing us additional avenues to increase our position in Australia’s 1.1 billion lb market.”