Deals this week: Ventura Foods, Parag Milk Foods, Alliance Consumer Growth

Incorporated’s dressings, sauces and mayonnaise (DSM) division Cargill will be acquired by Ventura Foods in a transaction that is expected to be completed in the second quarter of this year.

Ventura Foods is a leading producer of DSM, oils and other flavourings, and hopes to further strengthen its position through the acquisition.

As part of the transaction, the company will acquire Cargill’s DSM facility in Port St Lucie, Florida, and plant equipment at Gainesville, Georgia, and Sidney, Ohio.

Cargill will continue operating its North American Fats & Oils business from its Sydney and Gainesville facilities, as well as retain their ownership.

Cargill’s DSM assets at these plants will be moved to Ventura Foods’ facilities in Chambersburg, Pennsylvania, and Fort Worth, Texas.

The initial public offering (IPO) of Parag Milk Foods opened for subscription on 4 May and will close on 6 May.

The Indian dairy company is offering 20.5 million shares at Rs227 ($3.41) a share to raise a total of Rs3bn ($45.06m).

The company plans to use the net proceeds from the transaction to finance the expansion and modernisation of its facilities in Manchar and Palamaner.

India Business Excellence Fund (IBEF), India Business Excellence Fund I (IBEF I) and IDFC Private Equity Fund III (IDFC PE) are the three investors participating in the IPO by selling their shares.

HannahMax Baking Cookie Chips has received an investment from private equity firm Alliance Consumer Growth.

Cookie Chips plans to use the funds to boost its growth and expansion activities.

The cookie business was set up by Joanne Adirim and the bite-size cookies are now available in six flavours.

Boiban Business, a food delivery and ordering platform, has raised capital through angel funding to aid its market expansion activities.

The Indian company operates as Zapdel and was launched by Abhiudaya Parihar, Arunabh Parihar, Ram Manohar Rai, Rohit Gupta and Sudhir Prakash.

Fazer Group has acquired Mondelez International’s Domino, Jaffa and Fanipala brands in order to expand its biscuit business, as well as its home market.

Fazer Group is managed by Rolf Ladau and is a market-leader in the Finnish food industry with a varied product portfolio, including bakery, confectionery, biscuit and grain products, as well as food and cafe services.

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Image: Ventura Foods will acquire Cargill’s dressings, sauces and mayonnaise business. Photo: courtesy of Northamerica1000 via wikimedia.