The Save Mart Companies Announces Acquisition by Kingswood Capital Management

Today, The Save Mart Companies announced that Kingswood Capital Management LP ("Kingswood") has acquired the company. Kingswood is an operationally-focused private equity firm based in Los Angeles, with significant experience in the retail sector. Terms of the transaction were not disclosed.

Headquartered in Modesto, California, The Save Mart Companies is committed to sourcing a wide variety of local products across approximately 200 stores and serves communities throughout California and Northern Nevada. The company operates stores under the banners of Save Mart, Lucky California, and FoodMaxx. In addition to...

Checkers® & Rally's® Franchisee Falcons Burger Acquires 30 Rally's Restaurants

Checkers & Rally's, an iconic and innovative drive-thru restaurant chain known for bold and flavorful food at an exceptional value and its people-first attitude, today announced that franchisee Falcons Burger has purchased 30 Rally's restaurants from longtime, fellow franchisee Joe Hertzman following his decision to retire. The acquisition of units in the Kentucky and Indiana markets makes Falcons Burger the largest franchisee with Checkers & Rally's with a total of 57 restaurants across several states. Moreover, Falcons Burger is continuing to grow through new restaurant construction...

Just Eat Takeaway.com and McDonald’s Announce Long-Term Global Strategic Partnership

McDonald’s Corporation and Just Eat Takeaway.com N.V. have agreed to a new, long-term global strategic partnership, evolving their existing local agreements to provide McDonald’s customers and franchisees with the convenience and value of McDelivery® in markets across the world. McDonald’s and Just Eat Takeaway.com’s partnership will support growth of the McDelivery business and will lead to increased operational benefits for Just Eat Takeaway.com.

Just Eat Takeaway.com’s global brand and extensive geographic coverage, best-in-class food-delivery marketplace and 500,000 couriers worldwide provide numerous strategic benefits to...

Kraft Heinz and J.R. Simplot Company Announce an Exclusive, Multi-Year Strategic Supply Agreement

The Kraft Heinz Company and Simplot Food Group, a division of the J.R. Simplot Company (“Simplot”), announced today that the two companies have signed a long-term agreement naming Simplot as the exclusive manufacturer and supplier of Ore-Ida. Kraft Heinz will continue to own the Ore-Ida brand.

As a leading expert in potato manufacturing and distribution, Simplot is expected to help grow the Ore-Ida brand by introducing world-class innovation and technology to the business as well as creating greater efficiencies through vertical...

PlantPlus Foods Expands Americas play via Completion of Sol Cuisine Acquisition

PlantPlus Foods, LLC, the new generation of plant-based foods and a joint venture between a leading global food solutions and nutrition company, ADM, and one of the leaders in the protein sector, Marfrig, is proud to announce its portfolio expansion in North America with the completed acquisition of Sol Cuisine Ltd. (“Sol Cuisine”) following the recent announcement of their acquisition of DEW Drink Eat Well, LLC (“Hilary’s”). These strategic acquisitions further position PlantPlus Foods as an industry enabler in the plant-based space as the...

Wienerschnitzel Franchise Inks 20-Unit Development Deal to Enter Arkansas

Wienerschnitzel, the world’s largest hot dog franchise, is proud to announce the signing of an exclusive development agreement with Tejas Dogs, LLC, to build 20 new Wienerschnitzel restaurants throughout Arkansas over the next 12 years. The Tejas Dogs agreement follows a separate 20-unit announcement by the brand in 2020 to develop throughout Louisiana and paves the way for Wienerschnitzel to further expand its iconic quick-service footprint throughout Southern and Midwestern states. There are already plans to begin building three stores in northwest Arkansas to jumpstart the development schedule...

KPOP Foods Acquired by Leading Korean Food Retailer Wooltari USA

KPOP Foods, a vibrant Korean food startup that launched out of UCLA Anderson and debuted through Kickstarter in 2017, announced today its acquisition by Wooltari USA, a leading retail and online grocer of premium Korean food products. KPOP Foods will continue as a wholly owned subsidiary and will have enhanced capabilities through Wooltari USA in product development, sourcing, and operations to expand its distribution and services.

Since its founding, KPOP Foods has significantly grown thanks to adding celebrity chef Chris Oh as its Head of Product, becoming a top seller...

Hopdoddy and Grub to Form Better-Burger Powerhouse

Hopdoddy Burger Bar, the popular Austin-born burger joint, announced today that it has entered into a definitive agreement to acquire Grub Burger Bar, the Bryan, Texas-based brand known for its signature burgers, hand-spun shakes, scratch kitchen, and craft cocktail bar, to bring a shared vision and craveable menus to more burger lovers across the nation. Terms of the transaction were not disclosed.

The two high-performing brands intend to capitalize on many complementary capabilities while rapidly expanding into new markets. The new combined company, HiBar Hospitality Group, is backed...

Smokey Mo's TX BBQ Cookin' Up Growth, Purchased by Private Equity Firm Switchback Capital, LLC

Smokey Mo's TX BBQ, an authentic Texas barbeque chain with 16 locations and 21 years of successful corporate operations, was acquired by Austin, Texas-based Switchback Capital, LLC. Switchback is planning to bring the fan-favorite barbecue to even more local communities as well as a new look and feel for the iconic barbeque joint.

With a combined 60 years of private equity experience, the Switchback team adds Smokey Mo's to their portfolio as the firm's first formal investment. Founded by Tim Keyes and...

MamaMancini’s Announces Acquisition of Two Premier Gourmet Food Manufacturers

MamaMancini's Holdings, Inc., a marketer of specialty pre-prepared, frozen and refrigerated food products, today announced the signing of definitive agreements for two acquisitions – T&L Creative Salads, Inc. (“T&L”) and Olive Branch, LLC, which are related premier gourmet food manufacturers based in New York. Closing is expected to occur on or about December 29, 2021, subject to closing conditions.

Over several decades, brothers Anthony, Michael, and Joseph Morello have owned and operated T&L Creative Salads, offering a full line of foods for retail food chains and club stores...

Cargill to Acquire Croda’s Bio-based Industrial Business, Expanding Natured-Derived Solutions

Cargill has reached an agreement with Croda to acquire the majority of its performance technologies and industrial chemicals business for EUR 915,000,000 (1.03bln USD) on a cash-free, debt-free basis. The investment would dramatically expand Cargill’s bioindustrial footprint to better serve industrial manufacturers searching for “greener” ingredient solutions.

The transaction, which is subject to regulatory approvals, is expected to close in Summer 2022. Cargill will comply with applicable information and consultation requirements with our employee representative bodies.

“The bioindustrial space is a priority for Cargill, as we..."

Diversey Completes Acquisition of Birko Corporation and Chad Equipment LLC

Diversey Holdings, Ltd. (NASDAQ: DSEY), a leading provider of hygiene, infection prevention and cleaning solutions, today announced it has completed the acquisition of Birko Corporation, a North American manufacturer of food safety chemical solutions for the food and beverage industry, and Chad Equipment LLC, a subsidiary of Birko Corporation, which manufactures food safety equipment for the protein industries, with approximately 100 employees in total. With estimated 2021 sales of more than $40 million, this acquisition strengthens Diversey’s market presence in the United States and Canada...

Jack in the Box to Acquire Del Taco

Jack in the Box Inc. (NASDAQ: JACK), one of the nation’s leading QSR chains, and Del Taco Restaurants, Inc. (NASDAQ: TACO), the nation’s second largest Mexican QSR chain by number of restaurants, today announced that the companies have entered into a definitive agreement pursuant to which Jack in the Box will acquire Del Taco for $12.51 per share in cash in a transaction valued at approximately $575 million, including existing debt. While this price per share offers an attractive premium to Del Taco shareholders, Jack in the Box estimates...

Versova, Northwest Farms and Proterra Investment Partners Acquire Williamette Egg Farms

Northwest Farms and Proterra Investment Partners (Proterra) has acquired the operations and assets of Willamette Egg Farms (Willamette) in the Pacific Northwest from Michael Foods, Inc., a subsidiary of Post Holdings.

Northwest Farms is a newly formed company that includes several egg farming families who also are owners in Versova Management (Versova). Versova, headquartered in Sioux Center, IA, has assumed day to day management of the farms, located in Washington and Oregon.

The acquisition includes Willamette’s egg farms in Moses Lake, WA; and Canby and Molalla, OR. The farms...

Velvet Taco Receives Significant Investment from Leonard Green & Partners

Velvet Taco (the "Company"), the popular Dallas-based restaurant concept serving up globally inspired tacos, today announced that Leonard Green & Partners, L.P. ("LGP") acquired a majority stake in Velvet Taco from L Catterton, the largest global consumer-focused private equity firm, and FB Society (formerly Front Burner Restaurants), which spearheaded the creation of Velvet Taco ten years ago. L Catterton and FB Society will retain significant minority ownership stakes in the business. Terms of the transaction were not disclosed.

Founded in Dallas in 2011, Velvet Taco is a...

Restaurant Brands International Inc. to Acquire Firehouse Subs

Restaurant Brands International Inc. and Firehouse Restaurant Group Inc. ("Firehouse Subs") announced today that they have reached an agreement for RBI to acquire Firehouse Subs for $1.0 billion in an all-cash transaction. The transaction offers significant long-term unit growth potential to drive attractive returns for all stakeholders and is expected to be immediately accretive to RBI's diluted net earnings per share.

Firehouse Subs adds a strong and loved restaurant brand with attractive unit economics in a complementary category to RBI's existing family of iconic quick service restaurant...

GrubMarket Acquires Oakport Transportation to Expand Transportation and Logistics Capabilities 

GrubMarket today announced it has completed the acquisition of Oakland, CA-based Oakport Transportation, a provider of comprehensive trucking and logistics services that stores and ships produce throughout California, the Pacific Northwest, British Columbia, and Nevada, plus selected routes throughout the rest of the U.S. for certain seasonal items. GrubMarket will leverage Oakport's facilities and logistics networks to address the supply chain challenges introduced by recent trucking shortages, route congestion and skyrocketing consumer demand for fresh food.

The timing of this acquisition is of paramount importance. The coronavirus pandemic has...

BurgerFi Completes $156.6 Million Acquisition of Anthony’s Coal Fired Pizza & Wings

BurgerFi International Inc., the owner of one of the nation’s fastest-growing premium fast-casual concepts through the BurgerFi brand, is announcing the successful completion of its pending acquisition of Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) from L Catterton for $156.6 million. Ophir Sternberg, Executive Chairman of BurgerFi commented, “This acquisition marks a significant step forward in BurgerFi’s ongoing growth strategy and transition into a premium multibrand platform.”

Anthony’s, founded in 2002 and headquartered in Fort Lauderdale, FL, is a leading operator of casual...

Save A Lot Expands Retail Partnership With Yellow Banana Through Sale of Corporate Stores

Save A Lot, one of the largest discount grocery chains in the U.S., today announced the sale of six company-owned stores in Dallas, Texas, and Jacksonville, Florida, to Yellow Banana, LLC as part of Save A Lot’s ongoing efforts to convert corporate-owned stores to local ownership. Yellow Banana’s acquisition will enable these six stores to remain open, providing critical support to both the communities in question and the nearly 100 store associates employed.

Yellow Banana is owned by 127 Wall Holdings, LLC...

Benson Hill Announces Closing of Acquisition of Soy Crushing Facility Assets 

Benson Hill, Inc., a food technology company unlocking the natural genetic diversity of plants with its cutting-edge food innovation engine announced the closing today of its acquisition of a soybean crushing facility in Seymour, Indiana.

This investment, announced on September 13, 2021, will further solidify the Company’s position in the value chain to support production of a robust portfolio of proprietary, non-GMO, identity...

Yum! Brands Completes Acquisition of Dragontail Systems

Yum! Brands, Inc. announced today the completion of its acquisition of Dragontail Systems Limited (Dragontail), an innovative provider of technology solutions for the food industry, following the successful implementation of the previously announced share scheme of arrangement in accordance with Australian corporations law.

Yum! Brands acquired all of the issued and outstanding common shares of Dragontail for A$0.235 per share in cash or a total of approximately A$93.5 million. With today’s announcement, following the approval by the Australian Federal Court and by Dragontail shareholders and certain other...

Fortune International Announces Acquisition of MPI

Fortune International, LLC, announced the acquisition of Meat Processors, Inc., (MPI). This investment expands Fortune International's Fish & Gourmet brand into Michigan and Wisconsin.

“We are impressed with the business Doug and Jim have built over the last 44 years and thrilled to add their expertise, service level and high-quality products to the Fortune Fish & Gourmet family," said Fortune's CEO & President, Sean J. O’Scannlain.

Fortune International is the leading importer, distributor, and processor of the United States. Their focus is on meats, seafood and gourmet products. MPI is a Wisconsin-based, poultry and meat...

Cargill and Continental Grain Company to Acquire Sanderson Farms

Cargill, Continental Grain Company, and Sanderson Farms, Inc. announced they have reached a definitive agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms for $203 per share in cash, representing a total equity value for Sanderson Farms of $4.53 billion. The purchase price represents a 30.3% premium to Sanderson Farms' unaffected share price of $155.74 on June 18, 2021, the last full trading day prior to media speculation about the potential sale of Sanderson Farms; a 22.8% premium to the Sanderson Farms 30-day volume weighted average price ("VWAP") as of June 18, 2021, and a 15.2% premium to the all-time high share price as of June 18, 2021. Upon completion of the transaction, Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new, privately held poultry business.

The combination of Sanderson Farms and Wayne Farms will create a best-in-class U.S. poultry company with a high-quality asset base, complementary operating cultures, and...

Meatpacker JBS Takes Plunge Into Seafood Industry with $300 Million Huon Aquaculture Purchase

Brazil-based meatpacking giant JBS has agreed to purchase Australian salmon farmer Huon Aquaculture for AU$425 million (US$313 million).

Huon said JBS will acquire 100% of Huon for a cash consideration of $3.85 per share. The share price is a 61% premium over the closing price of $2.39, which was the last traded price before the company announced a strategic review on February 26.

The board at Huon Aquaculture unanimously recommended the move to sell to the world’s largest meat...

Church’s Chicken to Be Acquired by High Bluff Capital Partners and FS Investments

High Bluff Capital Partners (“High Bluff”), supported by various alternative investment funds managed by FS Investments, announced it has entered into a definitive agreement to acquire Church's Chicken®, one of the world’s largest quick service chicken restaurant chains, from FFL Partners. Subject to customary closing conditions, the transaction is expected to be completed during Q3 of 2021.

Based in Atlanta and founded in 1952, Church’s® has more than 1,500 locations in 26 countries and international territories. Demonstrating considerable resiliency in the face of a devastating global pandemic, the brand in 2020 leveraged its strengths in family meals, digital offerings, delivery and to-go orders to post a strong year of performance, generating system-wide sales of nearly $1.2 billion. Over the next year, the brand expects to...

Hesse Enterprises Acquires Ideal Meat & Provisions

Hesse Enterprises announced the acquisition of Ideal Meat & Provisions, Inc. located in Northridge, California. The new entity will assume the name Ideal Meat, LLC.

“We are proud to bring Ideal Meat & Provisions into the HEI Family of Companies. Larry Vad and his team have always excelled at producing the highest quality of products and delivering on customer expectations, staple ideals for all Hesse Enterprise Companies. We will build on those strengths to grow Ideal Meat to...

ADM Fastens Growth of Global Alternative Protein Platform with Planned Acquisition of Sojaprotein

Global nutrition leader ADM announced that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients.

Established in 1977, Serbia-based Sojaprotein has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company had more than...

C&S Wholesale Grocers Enters Into A Definitive Purchase Agreement With Piggly Wiggly Midwest

C&S Wholesale Grocers, Inc., an industry leader in supply chain solutions and wholesale grocery supply in the United States, has entered into a definitive agreement with Piggly Wiggly® Midwest with the intent to purchase the Wisconsin-based wholesaler. Piggly Wiggly® Midwest operates corporate stores and services independent franchisees under a chain-style program. Since 1911, Sheboygan, Wisconsin has been the home to Piggly Wiggly® Midwest's headquarters where it has its corporate offices and two of its distribution centers. A third distribution center...

General Mills Completes Acquisition of Tyson Foods’ Pet Treats Business

General Mills announced that it has completed the acquisition of Tyson Foods’ pet treats business for $1.2 billion in cash. The business, which includes the Nudges, Top Chews and True Chews brands, is the leader in natural meat treats for pets.

“This acquisition represents an important step as we reshape our portfolio for growth, in line with our Accelerate strategy,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “This business is a wonderful complement to...

Pilgrim's Pride Acquires Kerry Consumer Foods’ Meats and Meals Business
Pilgrim’s Pride Corporation announced that it has executed an acquisition agreement to acquire the Meats and Meals business of Kerry Consumer Foods in the United Kingdom and Ireland. Following the Acquisition, Pilgrim’s will be a leading food company, with a significant value-added protein and integrated prepared foods business anchored by a portfolio of strong brands.

The acquisition, which was unanimously approved by Pilgrim’s Board of Directors, values the acquired businesses at a £680 million (or approximately $952 million based on a 1.40 USD/GBP exchange rate as of June 16, 2021) enterprise value. The purchase amount represents...

Kraft Heinz Announces Agreement to Purchase Assan Foods

The Kraft Heinz Company announced that it has reached an agreement to purchase Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at approximately $100 million. Assan Foods is a rapidly growing sauces-focused business with local manufacturing facilities in Balikesir and Izmir that has been a certified production partner for Kraft Heinz since 2019 and offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa.

“This is a great opportunity to accelerate our international growth strategy centered on Taste Elevation,” said Rafael Oliveira, International Zone President at Kraft Heinz. “We believe Assan Foods is a high-performance organization that brings best-in-class local innovation and...

Livekindly Collective Expands Its Brand Portfolio with the Acquisition of The Dutch Weed Burger

LIVEKINDLY Collective, a collection of heritage and scale-up brands on track to become one of the world’s largest plant-based food companies, announced an agreement to acquire The Dutch Weed Burger, an Amsterdam-based, brand that uses seaweed as its hero ingredient.

By adding The Dutch Weed Burger to LIVEKINDLY Collective, the company expands its plant-based portfolio with seaweed, a high-quality source of protein. Additionally, this proposed acquisition will help the company scale internationally in the UK and Nordics, two key markets in Europe, as well as...

Hormel Foods Announces Closing of Acquisition of Planters Snacking Business

Hormel Foods Corporation announced the closing of its acquisition of the Planters® snacking portfolio from the Kraft Heinz Company.

The acquisition includes the Planters®, NUT-rition®, Planters® Cheez Balls and Corn Nuts®brands, as well as three production facilities.

"This is an important day for Hormel Foods as we close the largest acquisition in our company's history. As a global branded food company, we have been making a purposeful and strategic shift in our portfolio of brands and products, which includes enhancing our snacking offerings. The Planters® snacking business is...

Cal-Maine Foods Completes Acquisition of Interest in Red River Valley Egg Farm

Cal-Maine Foods announced that the Company has closed the previously announced purchase of the remaining 50 percent joint venture membership interest in Red River Valley Egg Farm, LLC from Rose Acre Farms, Inc, effective May 30, 2021. The entity is now a wholly owned subsidiary of the Company. Red River Valley Egg Farm, LLC owns and operates a specialty shell egg production complex with approximately 1.7 million cage-free laying hens, cage-free pullet capacity, feed mill, processing plant, related offices and outbuildings and...

Yum! Brands Undertakes to Acquire Dragontail Systems

Yum! Brands and Dragontail Systems Limited, an innovative provider of technology solutions for the food industry, announced that they have entered into a binding agreement under which Yum! Brands would acquire Dragontail by way of a share scheme of arrangement in accordance with Australian corporations law (referred to as the Scheme).

If the Scheme is successfully implemented, the addition of Dragontail to Yum! Brands’ growing technology portfolio is intended to give Yum! Brands the ability to scale Dragontail’s artificial intelligence (AI) kitchen order management and delivery technology globally.

Australia-based Dragontail’s platform is focused on optimizing and managing the entire food preparation process from order through delivery. Its AI-based solution automates...

Sysco Announces Agreement to Acquire Greco and Sons

Sysco Corporation announced it has entered into an agreement to acquire Greco and Sons, a leading independent Italian specialty distributor in the United States from Arbor Investments and the Greco family. Greco and Sons operates 10 distribution centers servicing 22 geographies nationwide, with approximately $800 million in annual revenue.

Founded in 1990, Greco and Sons imports and distributes a full line of premium quality food and non-food products as well as manufactures value-added specialty meat products. Upon completion of the transaction, Greco and Sons will operate as a standalone division within Sysco, similar to...