Deals this week: Dawn Meats and Dunbia, Inventure Foods
Dawn Meats (Dawn) and Dunbia have announced the receipt of regulatory clearances for their strategic partnership and acquisition agreement signed in May.
The two companies agreed to form a joint venture (JV) company in the UK with the trade name Dunbia. Dawn will also acquire Dunbia’s operations in the Republic of Ireland.
The two companies intend to grow as the leading supplier in the UK through the partnership. The combined business is estimated to process approximately 900,000 cattle and 2.6 million sheep a year.
Dawn Meats is an Ireland-based supplier, while Dunbia is a red meat processing company headquartered in Northern Ireland.
US-based speciality food producer and marketer Inventure Foods has sold its frozen business to Oregon Potato Company (OPC) for $50m.
The deal includes the Rader Farms and Willamette Valley Fruit Company brands and other assets, rights and properties related to Inventure’s frozen fruits, vegetable blends, beverages, as well as frozen desserts business.
OPC is engaged in innovative growing and processing of potatoes, vegetables and fruits at its three US processing plants in Washington, Oregon, and Idaho.
Inventure Foods intends to use the proceeds to repay the bank debts and other loans.