Global growth remained a key driver in transactions during the quarter.
In January, private equity firm Brynwood Partners VII L.P. continued its trend of buying food brands with the announcement that its newly-formed portfolio company, JPC Acquisition Co., acquired Joseph’s Pasta Co. from Nestle Prepared Foods Co. Terms and conditions of the transaction were not disclosed. Read the full story.
The Hain Celestial Group, Inc., Lake Success, N.Y., in January acquired Tilda Ltd., a 100% branded Basmati and specialty rice products company headquartered in Essex, U.K. Tilda brand offers a range of more than 60 dry rice and ready-to-heat branded products under the names Tilda, Akash Basmati and Abu Shmagh to consumers in more than 40 countries, principally in the United Kingdom, the Middle East and North Africa, Continental Europe, North America and India. Read the full story.
In January, Tyson Foods, Inc., Springdale, Ark., acquired Bosco’s Pizza Co., Warren, Mich. With one manufacturing plant, Bosco’s is a maker of partially baked frozen pizza made with traditional and whole grain crusts, pizza sticks that feature a variety of fillings and pizza sauces. Read the full story.
Post Holdings, Inc., St. Louis, continued its expansion in the active nutrition category with the February announcement it had agreed to acquire the PowerBar and Musashi brands and related worldwide assets from Nestle S.A., Vevey, Switzerland. Financial terms of the transaction were not disclosed. Read the full story.
Saputo Inc., the largest dairy processor in Canada, in February won a bidding battle for Warrnambool Cheese and Butter Factory Co. Holdings Ltd., one of Australia’s largest milk processors. Now the company has its sights set on other acquisition targets, including opportunities in the United States. Read the full story.
Grupo Bimbo, S.A.B. de C.V., Mexico City, has agreed to acquire all of the common shares of Canada Bread Company, Ltd. for C$72 ($65) per share, or approximately C$1,830 million ($1,663 million). Canada Bread is one of the leading manufacturers and marketers of bakery products, including sliced bread, buns, bagels, English muffins and tortillas in Canada, frozen bread in North America, and specialty bakery goods in the United Kingdom. Read the full story.
Minong, Wis.-based Jack Link’s Beef Jerky in February entered into an agreement to acquire the meat snacks business of Unilever P.L.C. for an undisclosed amount. Included in the acquisition are the European brands Bifi, Benelux and Peperami and Unilever’s meat snacks manufacturing plant in Ansbach, Germany. Read the full story.
Albertsons, an affiliate of Cerberus Capital Management L.P., in March entered into an agreement to acquire retailer Safeway, Inc., Pleasanton, Calif., for an estimated total purchase price of $9 billion. Read the full story.
In March, Chiquita Brands International, Inc., Charlotte, N.C., agreed to acquire Fyffes, a Dublin, Ireland-based fruit and produce distributor, in an all-stock transaction that values Fyffes at approximately $526 million. The combination of the two companies would create the world’s largest banana company with about $4.6 billion in annual sales. The new company, ChiquitaFyffes, will have an operating presence in more than 70 countries and a workforce of approximately 32,000 people. It will become the largest company in the global banana market with sales of more than 160 million boxes annually. Read the full story.