Apio has completed the acquisition of Yucatan Foods for $80m.
Based in the US, Apio is a subsidiary of health and wellness solutions provider Landec Corporation, while Yucatan Foods is a producer of packaged avocado-based food products in Mexico.
The purchase consideration includes approximately $60m in cash and $20m of Landec common stock, half of the shares have three-year sales lock-up and the remaining have a four-year lock-up period.
The transaction allows Landec Natural Foods to fortify its presence in the natural foods market and increase its earnings from the fiscal year 2020.
DA Davidson & Co is the exclusive financial advisor to Landec for the transaction.
The Kraft Heinz has agreed to acquire Primal Nutrition for approximately $200m.
Kraft Heinz is a food and beverage company, while Primal Nutrition is a producer of condiments and sauce. Both the companies involved in the transaction are based in the US.
The agreement enables Primal Kitchen to become a part of Springboard, which is a Kraft Heinz’s platform for partnering with disrupting food brands.
Primal Kitchen will operate as an independent business and its existing leadership team will lead the entity.
Bellisio Foods has agreed to acquire Frozen Specialties (FSI) from Swander Pace Capital for an undisclosed amount.
Bellisio Foods is a manufacturer of frozen foods, while FSI is a producer and supplier of frozen pizza and Pizza Bites to retailers across the US, Canada, Puerto Rico and the Caribbean.
Both the companies involved in the transaction are based in the US.
FSI will continue its operations under Bellisio Foods’ Overhill Farms division, upon completion of the transaction.
Yili Group has agreed to acquire Chomthana for an undisclosed amount.
Based in China, Yili is a state-owned company of the dairy industry, while Chomthana is an ice cream, bread and dessert producer based in Thailand.
The transaction forms part of the expansion plan of Yili.
Coca-Cola Amatil (CCA) intends to sell its Australian food business unit SPC, upon completion of a strategic review.
CCA started the review in August 2018 after completion of a four-year co-investment of A$100m ($73m) by Amatil along with the Victorian government.
High-speed snack lines and an aseptic fruit processing system were installed with the co-investment.
CCA has invested A$250m ($184m) of capital in the business, including technology and equipment since the acquisition of SPC in 2005.
Europastry has completed the acquisition of Confeitaria Torres for an undisclosed amount.
Established in 1987, Europastry is a provider of premium quality products to consumers, bakers and catering industry, while Confeitaria Torres is a manufacturer of deep-frozen baked goods.
Both companies involved in the transaction are based in Portugal.
The acquisition enables Europastry to add another craft baker to its production capacity.
The transaction is a part of Europastry’s global expansion plan. It intends to expand the company’s footprint in the Portuguese market and fortify its operations in the Carregado region.
FrieslandCampina has completed the acquisition of Jana Foods for an undisclosed amount.
Based in the Netherlands, FrieslandCampina is a dairy co-operative, while Jana Foods is a cheese importer and distributor.
Jana Foods is the importer and marketer of FrieslandCampina’s Dutch cheese in the US.
The transaction allows the integration of Jana Foods with FrieslandCampina Consumer Dairy USA business.
Jana Foods’ former owner and CEO Dan Lynch will become the vice-president for imports and senior commercial advisor.
Cargill has acquired CAMPOLLO for an undisclosed amount.
Based in the US, Cargill is a provider of food, agricultural, financial and industrial products to consumers, while CAMPOLLO is a chicken and protein products producer based in Colombia.
