M&As this week: Canada Bread, US Foods, Landec
Canada Bread has acquired Stonemill Bakehouse through share purchase for an undisclosed sum.
Notable brands of the target company, such as Stonemill, will be taken over by the acquirer company, as a result of the acquisition.
The acquirer company makes and distributes packaged fresh bread and bakery products, whereas the target company makes and distributes slow fermented craft breads.
Both the companies involved in the transaction are based in Canada.
US Foods has reached an agreement to acquire SRA Foods, a company also based in the US, in order to strengthen its position in the region and expand its product offerings.
The target company is a meat processor and distributor.
Landec has reached an agreement to acquire O Olive Oil, a specialty olive oils and wine vinegars company based in the US.
Landec will pay $2.5m in cash as consideration to O Olive Oil, for the acquisition.
The existing management team and headquarters of the target company will be retained following the acquisition.
Total Produce has increased its stake in Grandview Ventures by 30%, for €28.4m (C$39.5m), increasing its total stake in the latter to 65%.
Trading under the names Oppenheimer Group and Oppy, the target company is headquartered in Vancouver, Canada, and offers fresh produce for the retail, wholesale and foodservice customers.
As part of its long-term strategic expansion plan, packaging company, tna, has completed the acquisition of NID, a company based in Australia, for an undisclosed sum.
The target company supplies starch moulding equipment and confectionery equipment.