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FAT Brands Completes Acquisition of Johnny Rockets, Increases Securitization Facility to $80 Million

FAT (Fresh. Authentic. Tasty.) Brands Inc. announced today that it has completed the acquisition of Johnny Rockets from an affiliate of private equity firm Sun Capital Partners, Inc. for a purchase price of approximately $25 million. The transaction was funded with proceeds from an increase in the Company’s securitization facility. With the acquisition of Johnny Rockets, FAT Brands now franchises more than 700 restaurants around the globe in more than 30 countries with annual system-wide sales exceeding $700 million...

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Sep 22 8:18 AM, General News



Premium Brands Announces Acquisition of Global Gourmet Foods and Allseas Fisheries 

Premium Brands Holdings Corporation, a leading producer, marketer and distributor of branded specialty food products, announced that it has acquired Global Gourmet Foods Inc. and signed an agreement to acquire Allseas Fisheries Inc.

Global Gourmet is one of Canada’s leading providers of ready-to-eat kettle cooked food solutions, including protein-based fillings, specialty sauces, soup bases and side dishes, to retailers and restaurants in Canada and...

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Sep 1 8:53 AM, General News


Fed Cattle Exchange Acquired by Central Stockyards

The Fed Cattle Exchange, the only weekly fed cattle online auction for the cattle industry, has been acquired by Central Stockyards, LLC from 5150 Productions Company, LLC.

Since 2016 the Fed Cattle Exchange has provided the cattle industry with weekly, cost-effective cattle auctions that provide a platform for price discovery through competitive bidding. The prices determined in the weekly auctions benefit...

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Aug 21 11:57 AM, General News


FAT Brands Announces Planned Acquisition of Johnny Rockets

FAT (Fresh. Authentic. Tasty.) Brands Inc. announced that it has agreed to acquire the Johnny Rockets restaurant chain from an affiliate of private equity firm Sun Capital Partners, Inc. for approximately $25 million. The deal will be funded through cash on hand and proceeds generated from the Company’s securitization facility. The purchase is expected to be completed in September 2020. With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company owned restaurants around the globe with annual system-wide sales exceeding $700 million.

Johnny Rockets was founded in 1986 with its first location on the iconic Melrose Avenue in Los Angeles, California. Known for its 1950s diner style décor, the chain serves up...

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Aug 14 8:20 AM, General News


7-Eleven Transforms Its U.S. Store Network Through Acquisition of Speedway

7‑Eleven announced it has entered into an agreement to acquire Speedway, a leading convenience store chain, from Marathon Petroleum Corp. As part of the agreement, 7‑Eleven will acquire approximately 3,900 Speedway stores located in 35 states, for $21 billion in cash.

"This acquisition is the largest in our company's history and will allow us to continue to grow and diversify our presence in the U.S., particularly in the Midwest and East Coast," said Joe DePinto, President and Chief Executive Officer of 7‑Eleven. "By adding these quality locations to our portfolio, 7‑Eleven will have the opportunity to bring...

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Aug 4 8:24 AM, General News


Uber to Acquire Postmates; Will Keep Consumer-Facing App Running Separately 

Uber announced on Tuesday that they have reached a definitive agreement to acquire Postmates for approximately $2.65 billion in an all-stock transaction. The deal, once completed, will keep the consumer-facing Postmates app running separately.

As we reported last week, Uber was said to be in talks to buy Postmates after their deal with Grubhub fell apart in June. The New York Times reported that Uber made an offer of about $2.6 billion, however, their offer came at the same time that Postmates reportedly decided to...

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Jul 7 8:19 AM, Urner Barry


More Food Delivery Consolidation? Uber in Talks to Buy Postmates

Another major acquisition in the food delivery world could potentially be in the works. Uber is reportedly in talks to buy Postmates after their deal with Grubhub fell apart a few weeks ago.

While Uber and Postmates have declined to comment, The New York Times reported on Monday that Uber made an offer to acquire Postmates for about $2.6 billion. However, their offer comes at the same time that Postmates has reportedly decided to revive their plan for an initial public offering. Postmates, which is considered the fourth largest...

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Jul 2 8:19 AM, Urner Barry


Lineage Logistics Announces Acquisition of Henningsen Cold Storage, Assets from Maines Paper & Food 

Lineage Logistics is expanding their reach. Just last month the refrigerated warehousing and logistics provider announced the acquisition of Henningsen Cold Storage Co., as well as assets of Maines Paper & Food Service.

In February 2019 Lineage announced the acquisition of Preferred Freezer Services, making them not only the largest refrigerated warehousing and logistics provider in North America, but globally as well. The acquisition of Henningsen Cold Storage adds 14 facilities to Lineage’s expansive U.S. network, and bolsters its leading presence in the Pacific Northwest...

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Jun 2 11:00 AM, SeafoodNews


Prime Pork to Merge with Hylife 

Prime Pork is excited to announce that they will continue to expand their operations with the merger of their business with Hylife. Founded by Glen Taylor in 2016 to resurrect the former PM Beef facility, Prime Pork now employs more than 650 people.

“I have been really pleased with the employees at Prime Pork. With this new partner and leadership, I am confident this agreement will be great for the community, employees and area producers.” said Glen Taylor.

“This is a unique opportunity to partner with an operation that has an established network of producers, customers, and employees,” Grant Lazaruk, President and Chief Executive Officer of HyLife, commented about the addition of over...

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May 27 8:14 AM, General News


Yum! Brands Completes Acquisition of The Habit Restaurants

Yum! Brands, Inc. announced the completion of its acquisition of The Habit Restaurants, Inc., following the approval by The Habit Burger Grill stockholders. The transaction marks the addition of the first fast-casual concept to Yum! Brands’ portfolio of iconic global restaurant brands.

Yum! Brands acquired all of the issued and outstanding common shares of The Habit Burger Grill for $14 per share in cash or a total of approximately $375 million. Yum! Brands funded the transaction using cash on hand and available...

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Mar 19 8:19 AM, General News


US Foods to Acquire Smart Foodservice Warehouse Stores

US Foods announced that it has entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management for $970 million in cash.

Smart Foodservice operates 70 small-format cash and carry stores across California, Washington, Oregon, Idaho, Nevada, Utah and Montana that serve small and mid-sized restaurants and other food business customers with a broad assortment of products. Founded in 1955 and headquartered in the greater Portland, Oregon area, Smart Foodservice employs approximately 900 associates. Smart Foodservice had 2019 revenues of...

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Mar 6 9:45 AM, General News


Hormel Foods Announces Acquisition of Sadler's Smokehouse Business

Hormel Foods Corporation announced it has reached an agreement to acquire Texas-based Sadler's Smokehouse. Sadler's Smokehouse is a family-owned business that specializes in premium and authentic pit-smoked meats for retail and foodservice customers. Hormel Foods has been a customer of Sadler's Smokehouse for over two decades.

"Sadler's Smokehouse is a great company with an impressive history, talented team and an outstanding portfolio of on-trend products that resonate with consumers, customers and operators," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "This is a very strategic acquisition for...

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Feb 20 9:55 AM, General News


Cranswick Acquires White Rose Farms 

Cranswick plc, a leading UK food producer, announces that it has acquired the Buckle family’s pig farming and rearing operations as well as the family’s 50% share of the White Rose Farms Limited pig production joint venture set up by Cranswick and the Buckle family in 2018. The enlarged pig enterprise, to be known as White Rose Farms, specialises in the production of Red Tractor assured pigs in Yorkshire and will continue to be led by Rick Buckle.

Following the acquisition of Packington Pork in December, which specialises in British free range and outdoor pigs, today’stransaction further increases Cranswick’s self-sufficiency in UK pigs processed to over...

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Feb 12 8:41 AM, General News


GrubMarket Completes Two New Acquisitions to Kick-Off Their Rapid Expansion Plans in 2020

GrubMarket today announced it has completed the acquisitions of Eating with the Seasons Inc and EJ Food Distributor Inc, two highly-reputable food companies with established customer bases across Northern California. Eating with the Seasons was founded in 2000 by Pat Herbert, a fourth generation farmer. His business originally consisted of offering weekly boxes of his farm's fresh and seasonal bounty. Two years later, Pat's daughter Becky Herbert, left her job in publishing to help market and promote the farm's produce, and through her innovative thinking and operational excellence, she created one of the nation's first customizable produce boxes for Eating with the Seasons. Since then, Becky has developed...

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Jan 7 9:49 AM, General News


Yum! Brands to Acquire The Habit Restaurants

Yum! Brands, Inc. and The Habit Restaurants, Inc. announced that they have entered into a definitive agreement pursuant to which Yum! Brands will acquire all of the issued and outstanding common shares of The Habit Burger Grill for $14 per share in cash or a total of approximately $375 million. The board of directors of The Habit Burger Grill, acting on the recommendation of a special committee composed of non-executive independent directors, has unanimously approved the transaction.

The acquisition of The Habit Burger Grill will add an award-winning fast-casual concept with a loyal fan-base to Yum! Brands, the world’s largest restaurant company in terms of units and parent of the KFC, Pizza Hut and Taco Bell global brands. Founded in California in 1969, The Habit Burger Grill offers...

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Jan 6 9:34 AM, General News


Performance Food Group Company Completes the Acquisition of Reinhart Foodservice

Performance Food Group Company announced that it has completed the acquisition of Reinhart Foodservice, L.L.C. (Reinhart). With the close of the transaction, PFG is now positioned as one of the largest distributors in the U.S., with approximately $30 billion in annual net revenue and nearly 25,000 talented associates. PFG continues to expect to generate approximately $50 million of annual run-rate cost synergies in the third full fiscal year following today’s close. This is anticipated to result in low single-digit Adjusted Diluted EPS accretion in the first full fiscal year and low double-digit accretion expected in the third full fiscal year.

“We are excited to close the acquisition and welcome Reinhart’s many talented associates to the PFG family of companies,” said George Holm, PFG Chairman, President & CEO. “The Reyes family has built a strong business and...

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Dec 31 8:54 AM, General News


Performance Food Group Company Receives FTC Approval for Acquisition of Reinhart Foodservice

Performance Food Group Company announced that it has received approval from the Federal Trade Commission (FTC) to acquire Reinhart Foodservice, L.L.C. (Reinhart). PFG now expects to close the transaction on or about December 30, 2019, subject to the satisfaction or waiver of the remaining closing conditions.

“We are pleased to receive FTC approval to move forward with our acquisition of Reinhart Foodservice,” said George Holm, PFG Chairman, President & CEO. “This transaction builds upon our strong distribution platform and will provide us with greater overall scale and a diverse customer base, including independent customers. We expect this transaction to enhance our ability to help...

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Dec 24 9:44 AM, General News


JBS' Seara Alimentos Completes Acquisition of Cold Cuts Business Frigorífico Marba

JBS S.A., communicates to its shareholders and the market in general, in accordance with the terms of the Brazilian Securities and Exchange Commission Instruction no. 358, dated January 3, 2002, that its subsidiary Seara Alimentos Ltda. ("Seara") concluded on December 20, 2019 the purchase of Frigorífico Marba Ltda. ("Marba"), under the terms of the Agreement to Purchase and Sell Quotas and Other Covenants signed on November 6, 2019.

The transaction had previously been approved by the Brazilian anti-trust authority, among other conditions that are...

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Dec 24 9:34 AM, FeedInfo


Cal-Maine Foods, Inc. Completes Acquisition of Egg Production Assets of Mahard Egg Farm

Cal-Maine Foods, Inc. today announced that it has closed the previously announced acquisition of certain assets of Mahard Egg Farm, relating to its commercial shell egg production, processing, distribution and sale of shell eggs business. The acquired assets include commercial shell egg production and processing facilities with current capacity for approximately 3.9 million laying hens and permitted capacity for up to 8.0 million laying hens, a feed mill, pullets and related production facilities located in Chillicothe, Texas, and Nebo, Oklahoma, and a distribution warehouse located in Gordonville, Texas.

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including...

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Nov 21 9:34 AM, General News


Jefferies Agrees to Sell Remaining 31% Interest in National Beef to Marfrig

Jefferies Financial Group Inc. announced today that it has entered into a definitive agreement to sell its remaining 31% interest in National Beef to Marfrig Global Foods. This follows our original sale to Marfrig of a 48% interest in National Beef in June 2018. Under the terms of this agreement, Jefferies will realize a total of $970 million in cash, including $860 million of proceeds from Marfrig and $110 million from final distributions from National Beef. Closing is expected on or about November 30, 2019, subject to limited and customary closing conditions.

The transaction will result in a pre-tax gain of approximately $210 million being recognized by Jefferies. Our last published valuation of our remaining interest in National Beef was $903 million as of May 31, 2019. Since that date, we have received $66 million in distributions and now...

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Nov 19 12:10 PM, General News


Sysco Acquires Hawaii-Based Armstrong Produce and Kula Produce

Sysco Corporation today announced it has acquired Armstrong Produce and Kula Produce, Hawaii-based broadline fresh produce wholesalers and distributors with approximately $155 million in combined annual revenue. The acquisitions will operate as part of FreshPoint, Sysco’s specialty produce company.

Armstrong Produce was founded in 1979 and has grown from a small family-run wholesale business into Hawaii’s leading produce wholesaler and distributor. With operations in Honolulu, Kona and Kahului, the company supplies a wide range of customers, from local chefs to retailers, with fresh produce daily. Armstrong Produce and Kula Produce are sister companies.

“Armstrong Produce and Kula Produce have been providing quality service and produce to...

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Nov 13 9:22 AM, General News


Givaudan to Acquire Ungerer

As part of its 2020 strategy to expand the capabilities of its global flavour and fragrance business, Givaudan today announced that it has reached an agreement to acquire Ungerer & Company, the US based Flavour, Fragrance and Specialty Ingredients company.

Headquartered in New Jersey, USA, Ungerer is a leading independent company in the flavour and fragrance specialty ingredients business, most notably in essential oils, which provides a rich palette of predominantly natural ingredients for flavour and fragrance creation, as well as for end customers of such specialties. Ungerer also has an impressive local and regional customer presence for both...

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Nov 12 8:57 AM, General News


Symrise Successfully Closes Acquisition of ADF/IDF

Symrise AG today announced that it has successfully completed the acquisition of ADF/IDF, a leading U.S. meat and egg-based protein specialist and pioneer in all-natural nutrition ingredients. The acquisition has been cleared by the Antitrust Division of the U.S. Department of Justice (DOJ). Symrise will now begin the process of integrating ADF/IDF. With its comprehensive portfolio of solutions for the food and pet food industries, ADF/IDF will complement the Nutrition portfolio with a highly diversified range of natural based solutions.

"We very much look forward to teaming up with ADF/IDF given our shared focus on innovation and meeting customer needs. Together, we will work to continue expanding our diverse solutions portfolio using the highest quality natural ingredients. Our combined reach will allow us to expand...

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Nov 4 8:57 AM, General News


Cal-Maine Foods Announces Definitive Agreement to Acquire Egg Production Assets of Mahard Egg Farm

Cal-Maine Foods, Inc. today announced that it has reached a definitive agreement to acquire substantially all of the assets of Mahard Egg Farm, relating to its commercial shell egg production, processing, distribution and sale of shell eggs business. The assets to be acquired, subject to the completion of this transaction, include commercial shell egg production and processing facilities with current capacity for approximately 3.9 million laying hens and permitted capacity for up to 8.0 million laying hens, a feed mill, pullets and related production facilities located in Chillicothe, Texas, and Nebo, Oklahoma, and a distribution warehouse located in Gordonville, Texas. The Company expects to close the transaction in the next few weeks.

Commenting on the announcement, Dolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., said, “We are very pleased to announce the acquisition of these assets from Mahard Egg Farm. Cal-Maine Foods already has...

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Oct 17 9:11 AM, General News


Cracker Barrel Acquires Maple Street Biscuit Company

Cracker Barrel Old Country Store, Inc. announced it has acquired Maple Street Biscuit Company in an all-cash transaction for $36 million. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. It currently has 28 company-owned and five franchised fast casual locations across seven states. Maple Street Biscuit Company has targeted AUVs of $1.0+ million and targeted store-level EBITDA of 17%+ of net sales. The Company plans to convert its Holler & Dash Biscuit House units into Maple Street Biscuit Company locations in the coming months. Scott Moore will remain CEO of Maple Street Biscuit Company and will report directly to Sandra B. Cochran, President and CEO of Cracker Barrel.

“The breakfast and lunch-focused fast casual category is an attractive segment, and our experience with Holler & Dash has reinforced this belief. We have long admired Maple Street Biscuit Company with...

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Oct 15 8:15 AM, General News


The Cheesecake Factory Completes Acquisitions of North Italia and Fox Restaurant Concepts

The Cheesecake Factory Incorporated announced that it has closed the acquisitions of North Italia and Fox Restaurant Concepts (“FRC”), including Flower Child.

The transactions were completed for $308 million in consideration at closing, including $12 million earmarked for customary post-closing adjustments. An additional $45 million will be due ratably over the next four years, and the FRC transaction also includes an earn-out provision based on the financial performance of the FRC brands outside of North Italia and Flower Child. The Company previously invested...

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Oct 4 8:18 AM, Urner Barry




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