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Canada’s Sofina Foods Buys Eight Fifty Food Group, Owner of Young’s Seafood
Eight Fifty Food Group, the owner of Young’s Seafood, is being sold to Sofina Foods, a leading Canadian multi-protein producer. The sale has been agreed upon by CapVest partners, an international private equity firm. The amount of the sale has not been disclosed.
CapVest acquired leading UK pork processor Karro Food Group in 2017. Two years later CapVest acquired the UK’s iconic seafood business, Young’s Seafood, creating Eight Fifty Food Group. Eight Fifty Food Group later consolidated five other protein businesses from across Europe to become a...
Hardeman Egg Group Acquires Adriaan Goede B.V.
Both companies have this week announced the acquisition of Adriaan Goede B.V. by Hardeman Egg Group. With this move, Hardeman Egg Group is strengthening its position in the egg market, with Adriaan Goede B.V. boosting its future market position.
Adriaan Goede B.V., a private limited company, has a long history and is one of the oldest egg product companies in the world. In the past 126 years, the company has evolved into an efficient and high-quality egg products company, exporting to more than 30 countries in the world.
Over the past four generations, the world of eggs and egg products has changed dramatically. The demand for many different types of eggs and egg products with higher and...
Yum China has Acquired a 5% Equity Interest in Fujian Sunner Development
Yum China Holdings, Inc. announced that it has acquired a 5% equity interest in Fujian Sunner Development Co., Ltd.
Founded in 1983 and headquartered in the Fujian Province, Sunner is China's largest white- feathered chicken producer. Sunner has a vertically integrated business model covering the full production chain, which primarily includes chicken breeding and farming, feed processing and meat processing.
"We are excited to become a strategic investor in Sunner, our largest poultry supplier. Yum China and Sunner are longstanding business partners. The management team of Sunner has demonstrated exceptional execution capabilities over the years," said Joey Wat, CEO of Yum China. "With this strategic investment, we look forward to...
Issa Brothers and TDR Capital Complete the Acquisition of Asda from Walmart
Walmart Inc., Asda Group Limited, the Issa brothers and TDR Capital have announced that the Issa brothers, founders and co-CEOs of EG Group, a global convenience and forecourts retailer, headquartered in Blackburn, UK, and investment funds managed by TDR Capital LLP, a leading UK-based private equity firm, have completed the acquisition of Asda, Walmart’s wholly-owned UK business, for an enterprise value of £6.8 billion, on a debt-free and cash-free basis.
The Issa brothers and TDR Capital have acquired a majority ownership stake in Asda, while Walmart will...
Smart Foodservice Warehouse Stores to Become US Foods CHEF’STORE
US Foods Holding Corp. announced that effective March 1, Smart Foodservice Warehouse Stores will be rebranded as US Foods CHEF’STORE. US Foods acquired Smart Foodservice Warehouse Stores in April 2020 to accelerate growth in the cash and carry market. This change will combine the power of the US Foods brand with the assortment, pricing and customer service of Smart Foodservice Warehouse Stores and pave the way for an enhanced customer experience.
“Our new CHEF’STORE branding represents the next step in our continued partnership with US Foods,” said Derek Jones, president, US Foods CHEF’STORE. “Smart Foodservice Warehouse Stores and US Foods share a commitment to...
Hormel Foods Adds Another Strategic Leading Brand to its Portfolio with the Acquisition of Planters
Hormel Foods Corporation, a global branded food company, announced that it has entered into a definitive agreement to acquire the Planters® snack nut portfolio from the Kraft Heinz Company. The proposed transaction is expected to close in calendar Q2 2021, subject to regulatory review and approval. The acquisition includes the Planters®, NUT-rition®, Planters®Cheez Balls and Corn Nuts®brands. Hormel Foods will acquire the business for $3.35 billion in cash in a transaction that provides a tax benefit valued at approximately $560 million, equating to an effective purchase price of $2.79 billion.
"Planters®is an iconic leading snack brand with universal consumer awareness," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "The acquisition of the Planters®business adds another...
Price Chopper/Market 32 and Tops Markets to Merge, Nearly Doubling Their Footprint in the Northeast
Price Chopper/Market 32 and Tops Markets today announced that they have entered into a definitive merger agreement that creates a powerful alliance between the two storied independent grocery chains, as it nearly doubles their collective footprint in the Northeast.
This transaction unites two iconic New York-based grocery chains with deep ties to their local communities and shared commitments to service, savings, and convenience. With increased scale across their almost perfectly contiguous footprints, the merged companies are expected to be better positioned to compete and offer even more value and outstanding services to their customers across the Northeast...
Cargill Expands Value-Added Protein Footprint Through Acquisition of ProPortion Foods
Cargill, the global food, agricultural, financial and industrial products company, announced the expansion of its value-added protein footprint through the acquisition of ProPortion Foods, a food manufacturer that supplies a variety of innovative fully cooked products, portion control steaks and marinated ready-to-grill meats.
Through the purchase, which closed in December 2020, Cargill gains two further-processed protein plants in Round Rock, Texas and Vernon, California. The Round Rock and Vernon facilities will deliver a variety of quality, fully cooked protein products for Cargill’s...
Livekindly Collective Expands Its Brand Portfolio With the Acquisition of Iceland Foods’ No Meat
LIVEKINDLY Collective, a collection of heritage and start-up brands, announced the acquisition of No Meat, Iceland Foods’ vegan meat alternative company.
“This acquisition is very complementary to our current portfolio further strengthening our position in the frozen sector of the fast-growing plant-based meat category", says Domenico Speciale, General Manager for LIVEKINDLY Collective in the UK. "No Meat has been such an incredible success with...
Inspire Brands Completes Acquisition of Dunkin’ Brands
Inspire Brands announced the completion of its $11.3 billion acquisition of Dunkin’ Brands Group.
With the addition of Dunkin’ and Baskin-Robbins, Inspire now encompasses nearly 32,000 restaurants across more than 60 countries generating $26 billion in annual system sales, making it the second-largest restaurant company in the U.S. by both system sales and locations. Inspire’s family of brands includes Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s, Rusty Taco, and SONIC Drive-In.
“We are very excited to welcome the Dunkin’ and Baskin-Robbins brands into the Inspire family. Dunkin’ and Baskin-Robbins are category leaders and two of...
FAT Brands Agrees to Combine with Fog Cutter Capital Group
FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) announced today that it has entered into an agreement to combine with Fog Cutter Capital Group Inc. (FCCG), the Company’s controlling stockholder. The merger is intended to provide FAT Brands with increased financial flexibility and simplified corporate structure, at a time in the restaurant industry when committed capital and first mover advantage are critical to strategic acquisitions.
Andy Wiederhorn, President and CEO of FAT Brands, stated “We have taken a number of steps in 2020 to bolster our balance sheet and ensure that FAT Brands is as nimble and opportunistic as possible, especially in this environment...
Technomic's Take: 2021 Global Trends Outlook
We can only guess what’s in store for 2021 in the global restaurant space. 2020 showed us—among so many things—that what’s expected and what happens don’t always align, to say the least. That said, we think our 2020 restaurant trend forecast holds up fairly well given the reality of the marketplace affected so drastically by the pandemic. Ghost kitchens certainly moved mainstream. Vegan fare got more space to stretch and grow. Plant-based meats continued to inform product development, especially across Asia. Beverage chains certainly broke out from the crowd—again, especially in Asia. And halloumi, pinsa pizzas and sliders had strong showings on chain menus across the world. So, what’s in store for the coming year...
Uber Completes Acquisition of Postmates
Uber Technologies, Inc. announced that it has completed the acquisition of Postmates Inc. in an all-stock transaction, and that the two companies have begun the process of integrating U.S. operations.
As previously announced, the transaction brings together Uber’s global Mobility and Delivery platform with Postmates’ beloved business in the U.S. to strengthen the delivery of food, groceries, essentials, and other goods. The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by...
HelloFresh Acquires Ready-to-Eat Meal Company Factor75
US subsidiaries of HelloFresh SE, have entered into an agreement to acquire all of the outstanding equity interests of Factor75, Inc. (including its subsidiaries “Factor”). HelloFresh is the leading provider of meal kits in the world and in the US. Factor is a leading provider of fully-prepared, fresh meals that combine health, convenience and restaurant-quality taste.
The acquisition marks the next step in HelloFresh’s growth plan in the US to strengthen its leading position and to expand its total addressable market. The total purchase price for the acquisition is up to...
Sanderson Farms Issues Statement on Unsolicited Proposal
Sanderson Farms, Inc. issued the following statement:
Sanderson Farms has not received a proposal from Tyson Foods and Durational Capital Management. The Sanderson Farms Board of Directors has unanimously rejected an unsolicited proposal from Durational Capital Management, a new shareholder, to acquire the Company for $142 per share, a price that very substantially undervalues Sanderson Farms and its future prospects and is significantly below the 52-week high share price of $179.45. After careful consideration, with the assistance of its financial and legal advisors, the Board unanimously determined that the highly conditional and opportunistic proposal is not...
Quirch Foods Completes Merger With Colorado Boxed Beef One Month After Making Initial Announcement
On September 18 Quirch Foods and Colorado Boxed Beef announced that they had agreed to merge their companies. Now, a month later, the merger is officially complete.
“With Colorado Boxed Beef and its operating companies now part of our unique portfolio of leading protein companies, we have increased our core domestic retail business and expanded into new geographies and channels,” said Frank Grande, President and CEO of Quirch. “As a result, we are delivering a broader and more diverse product offering, including a number of...
ADP Direct Poultry Acquires Cami International
ADP Direct Poultry announced the acquisition of Cami International Poultry. Cami is a poultry slaughter and processing company located in Welland, Ontario, and employs 55 people.
"I've believed for years that vertical integration was critical to the company's long-term aspirations. Cami's business operations end where ADP's further poultry processing operations begin, so there isn't overlap between the two businesses. This acquisition gives ADP a consistent supply of poultry with the size and specification required by ADP customers, which makes Cami the perfect addition to the ADP team' said Augo Pinho, President & CEO of ADP.
Terms of the deal will remain confidential, but 100% of Cami shares were acquired, and...
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...
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...
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...
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...
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...
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...
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...
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...
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...
Atlast Raises $40M to Expand Production of Whole Cut Plant-Based Meat
Urner Barry Releases April Soy & Wheat Protein Report
Global Consumer Confidence Hits Record High
US Foods Releases 2020 Corporate Social Responsibility Report
Domino's and Nuro Launch Autonomous Pizza Delivery with On-Road Robot
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