Food Industry
Industry: Email Alert RSS FeedMergers & Acquisitions & Joint Ventures - European food sector - Illustration
Eurofood, August 2, 2001
Mergers & Acquisitions & Joint Ventures
Buyer Target Country Remarks
Beghin-Say Acuar France/ French sugar group
Guarani Brazil Beghin-Say
announced the
acquisition of
Brazilian firm
Acuar Guarani.
Financial details
of the deal
were not
disclosed.
Beghin-Say is the
number one French
sugar producer and
the number two in
Europe.
SimplyOrganic Express UK Organic home
Dairies shopping service
SimplyOrganic has
Teamed up with
dairy firm Express
Dairies to offer
doorstep delivery
of its products.
Initially active
in London, it is
hoped the service
will be rolled out
nationally by
spring 2002. The
deal enables
SimplyOrganic to
offer its products
to a wide range
of people, and
also enables
Express Dairies to
make better use
Better use of its
extensive delivery
networks.
Markenfleischer Weiser Austria Markenfleischer,
an Austrian firm
specialising in
rescuing insolvent
firms, has
acquired the brand
rights and recipes
of bankrupt
sausage maker
Weiser.
Wessanen Preisco/ Netherlands/ Dutch health food
Jentash Canada firm Wessanen has
Foods agreed to acquire
Canadian firm
Preisco/Jentash
Foods. The
Canadian firm
produces
speciality and
health foods,
and has annual
sales of around
C$42m (31.1m
[European
Dollar]).
IAWS La Brea Ireland/US Irish firm IAWS
Bakery has further
Group expanded its
North American
operations
following an
agreement to
acquire an 80%
stake in
Californian-based
bakery
La Brea Bakery
Group. IAWS is
paying US$55m
(64m [European
Dollar]) for
the US concern, as
well as assuming
US$13.5m of debt.
Pfeifer & Five Germany/ German group
Langen Polish Poland Pfeifer & Langen
sugar is to acquire 51%
plants stakes in five
Polish sugar
plants. The
Polish Treasury
has rethought its
privatisation
plans following
its decision to
cancel the sale
of prize Polish
firm Slaska to
French sugar group
Saint-Louis-Sucre,
which has recently
agreed to be
acquired by German
giants Sudzucker.
Casino CBD France/ French retailer
Brazil Casino has
exercised its
right to increase
its equity
capital in
Brazilian firm
Companhia
Brasileira de
Distribuicao
(CBD). Casino
now holds
a total equity
holding in CBD
of 25.48%. CBD
operates
Brazilian
supermarket chains
Pao de Acuar,
Extra and
Barateiro, as well
as electrical
goods retailer
Eletro.
Competition in
Brazil is fierce,
particularly
with compatriot
rival Carrefour.
PepsiCo Tasali US/Saudi US cola giant,
Snack Arabia which is almost
as renowned for
its snacks as its
soft drinks, has
acquired Saudi
Arabian snack
firm Tasali Snack
from Savola Snack
Foods. Tasali
Snack is the
leader of the
salty snack
market in Saudi
Arabia. Assets
of Tasali will be
combined with
PepsiCo's current
venture in the
Region Saudi
Snack Foods.
Wal-Mart/ Venture US Both Wal-Mart and
K-Mart Capital K-Mart, two
Partners giants of US
retail, have
bought out their
respective venture
capital partners
that built their
online operations
with them.
Originally, many
retailers thought
online operations
would be spun-off.
However, with
recent
casualties in
the sector,
both Wal-Mart
and K-mart
have decided
to take full
control over
their online
activities.
Compass Vendpac UK The world's
largest contract
caterer Compass
has purchased
Venpac, from TM
Group, the market
leader in the UK
for vending
machines in a
deal worth
84m [pounds
sterling] (137.
4m [European
Dollar]). Compass,
already market
leader in vending
machines elsewhere
in Europe and the
US, now has a
strong presence
in the UK. Vendpac
has annual sales
of 58m [pounds
sterling] and
profits of 7m
[pounds sterling].
Provimi Nessabar- France/ Provimi, formerly
Provimi Bulgaria part of the
Franco-Italian
firm Eridania
Beghin-Say,
has taken full
control of
Nessabar-Provimi
in Bulgaria.
Provimi
operates in
the animal
nutrition sector.
Smithfield Gorges/ US US meat firm
Foods Quik-to- Smithfield has
Fix Foods announced it is
buying
compatriot
bankrupt firm
Gorges/Quik-to-Fix
Foods in a deal
worth US$34m
(38.9m [European
Dollar]) cash.
Gorges/
Quik-to-Fix Foods
has annual
revenues of
US$140m.
Sara Lee Earthgrains US US diversified
goods manufacturer
Sara Lee has
received
anti-trust
clearance from
the US authorities
to acquire
compatriot baking
giant Earthgrains
in a US$2.8bn
(3.2bn [European
Dollar]) deal.
Heinz Kagome US/Japan US firm Heinz has
teamed up with
Japanese company
Kagome, a producer
of ketchup, sauces
and vegetable
juices, to form
a strategic
alliance. The
two firms will
work to align
their operations
and product
portfolios in an
attempt to drive
sales growth.
Zed Gum Leaf Ireland Ireland/ Dutch food
Netherlands ingredient and
sugar group CSM
has announced
an agreement to
sell Leaf Ireland
to Zed Gum.
Alfonso and J Domino Sugar US/UK UK sugar group
Pepe Fanjul has finally ended
its troubled
presence in the US
sugar market
following the
US$108m (123m
[European Dollar])
sale of Domino
Sugar to an
investment
group. A further
US$25m will be
payable over
the next four
years dependent
on the price of
sugar, by the
investment group
headed up by
Alfonso and J
Pep Fanjul.
Cranswick Continental UK Cranswick has
Fine Foods agreed a 11.7m
[pounds sterling]
(19.1m [European
Dollar]) deal to
acquire UK
delicatessen
producer
Continental Fine
Foods.
COPYRIGHT 2001 Agra Europe Ltd.
COPYRIGHT 2001 Gale Group
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